Disney CEO Defends Box Office Flops as Franchise Wins
Get the Culture newsletter
Daily culture — film, music, books, the trends and ideas worth your attention. Free.
- Disney CEO Josh D'Amaro acknowledged that 'Star Wars: The Mandalorian and Grogu' and live-action 'Moana' underperformed at the box office, but framed both as contributors to broader franchise value through merchandise, theme parks, gaming, and Disney+ engagement.
- 'The Mandalorian and Grogu' opened over Memorial Day Weekend with $81 million domestically and earned $345 million worldwide — well below the billion-dollar grosses of 'The Rise of Skywalker' and 'The Last Jedi.'
- Live-action 'Moana,' featuring Dwayne Johnson, has earned $262 million worldwide on a reported $250 million production budget, with Variety reporting the film stands to lose $100 million in theaters for Disney.
- CFO Hugh Johnston described the film business as 'more of a portfolio game' and said the theatrical window is 'just one data point,' pointing to Disney's diversified business as a buffer against film volatility.
- 'Spider-Man: Brand New Day' earned praise from D'Amaro as an 'unbelievable result' — he congratulated Sony and Marvel Studios and said the film's success 'bodes well' for December's 'Avengers: Doomsday.'
Why it matters: Disney is publicly reframing major theatrical losses — Moana alone stands to lose $100 million, and Mandalorian earned less than a third of prior Star Wars films — as franchise wins to justify continued big-budget production. The CFO's 'portfolio game' framing signals theatrical results are no longer the sole yardstick Disney uses to measure a film's value, even as the company simultaneously lauds Spider-Man as proof audiences still turn out for tentpoles.
