Disney has announced film and TV production cuts for 2023

The Walt Disney Company’s 2022 Annual Report indicates that the company plans to reduce film and TV production for 2023. In the wake of Bob Chapek’s dramatic exit from the company just over a week ago, and the subsequent return of Robert Iger as CEO, Disney appears to be looking to make significant changes in its field. own content production.

In the Q3 2022 earnings report, this was revealed $1,061 billion lost by them directly to the consumer section. That part of the business deals with Hulu, ESPN+ and, of course, Disney+ which includes the likes of PixarAnd the marvelAnd the and Star Wars. Disney noted that this is due in part to “Higher loss on Disney+”.

The operating losses come despite Disney+ surpassing 164 million subscribers at the beginning of October this year. It also comes despite the release of highly anticipated projects from heavyweight franchises such as MarvEarth star Wars.

Because of all of this, it looks like the Studio 2023 will be a little thinner.

Disney cuts Disney+ content in 2023

Disney

Disney’s 2022 Annual Report recently revealed an interesting detail, namely that its 2023 release plans will be narrower than in the past.

Disney+’s operating losses appear to have been a concern for the company, as it plans to significantly reduce the number of titles produced by its studios, including the Walt Disney Pictures, Marvel, Lucasfilm, Pixar, Twentieth Century Studios, and Searchlight Pictures banners.

In its annual report for 2021, the company announced the following:

In fiscal year 2022, the studios plan to produce approximately 50 films, which includes spin-off films and TV shows, for theatrical distribution and/or on our DTC platforms. The timing and number of production runs can be affected by COVID-19.

However, this strategy appears to have been revised for the next year, as shown below:

In fiscal year 2023, the studios plan to produce approximately 40 films, which includes spin-off films and TV shows, for theatrical distribution and/or on our DTC platforms.

As such, the company plans to produce 40 titles in fiscal 2023, down 20% from the 50-title target for 2022.

Although they are intent on reducing production of projects under the studios’ banner, Disney’s general entertainment division appears willing to pick up the slack.

Incorporating the likes of ABC Signature, Disney Television Animation and FX, the fourth-quarter earnings report also revealed that Disney’s General Entertainment side is hopeful. “Produced or commissioned more than 270 original programmes.”

By comparison, the 2021 earnings report estimated just over 145 programs to produce Disney’s General Entertainment.

What will this mean for the future of Disney+?

While a drop of 10 titles may not sound like much, it’s interesting that Disney is balancing streaming production with traditional programming methods.

Of course, given the internal turmoil the company is facing, it is not surprising that such structural changes have occurred in the company’s operations.

Whether or not Iger played a role in this remains to be seen. It’s possible that Disney is just wanting to satisfy its expectations for Disney+ in the wake of the board changes.

However, Disney expects returning CEO Robert Iger to start “Organizational and Operational Changes”. Iger is said to be moving really fast, and this may have been one of the first issues he’s played a role in since his reinstatement.

Regardless, the decline in Disney+ production could play into the hands of beloved franchises like Star Wars and Marvel.

Many fans feel that Disney+ projects are rushed and the rigorous episode count for Disney+ projects has become something many fans hate.

It might be helpful for the streaming service to sit back and dedicate itself. Not only are fans more likely to experience burnout, but projects can pace themselves better, something the Disney+ show has been highly acclaimed for. Andor was particularly praised.

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