Disney CEO Bob Iger announced Friday that the company would be lowering its movie production output as Disney’s operating income continues to slump.
Disney has yet to produce a profitable operating quarter in its movie division since April 2022.
“I’ve always felt that quantity can be actually a negative when it comes to quality, and I think that’s exactly what happened, we lost some focus,” said Iger during an earnings call.
The company currently only has three movies slated to premiere in 2024.
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