Disney is slowing down when it comes to making movies and TV series for its Marvel Studios and Lucasfilm franchises, CEO Bob Iger said Thursday on CNBC.
The move comes as the company is looking to cut costs during a time when its recent films, from Marvel to animation, have underwhelmed at the box office.
“You pull back not just to focus, but also as part of our cost containment initiative. Spending less on what we make, and making less,” Iger said Thursday.
Earlier this year, Disney rolled out a broad reorganization of the business that included $5.5 billion in cutting costs, of which $3 billion would be slashed from content excluding sports.
Iger said Thursday that a lot of decisions were made to prop up the company’s flagship streaming service, Disney+, and beckon more customers.