Disney, usually at the forefront of the film industry’s highest-grossing company race, made a much-unwanted achievement that year. According to Deadline Disney took four out of five spots on the list of the worst-lossing films of 2023, which is a surprising departure from the common domination. Under the leadership of returning CEO Bob Iger, Disney is now changing course to a “less is more” strategy, seeking to raise quality to regain its former strong performance.
Unwanted “Marvels” record
It was supposed to be another high-grossing film with a budget of over $200 million. In the end reported a loss of $237 million, making it the biggest financial failure of the year. “Marvels” already had a record low debut for the Marvel Universe at the beginning of its screening in cinemas. The poor result reportedly prompted Disney to rethink its production strategies.
While Disney’s film content strategy is an integral part of its business model, which even extends to theme parks and merchandise, the company acknowledges the need to recalibrate its approach. Especially as the industry continues to navigate recovery from the pandemic.
Other big failures of 2023
Second place: “Flash”
In second place among the film failures of 2023 was the comic book show by Warner Bros. “Flash”. According to Deadline’s calculations, the studio lost as much as $155 million on it. This is the only title on the list of the five biggest financial failures of last year that is not from Disney.
Third Place: “Indiana Jones and the Artifact of Destiny”
Third place on the list of failed investments was taken by another film from the series of adventures of the famous archaeologist – . Disney, which is responsible for the production, recorded a loss of $143 million. This is another case where the cult series did not meet financial expectations.
Fourth Place: “The Wish”
In fourth place was Disney’s title. “Wish”. The production, despite high expectations and potential, resulted in a loss of USD 131 million for the creators. Interestingly, this film was intended to be a celebration of Disney’s 100th anniversary.
Fifth Place: “The Haunted Manor”
“The Haunted Manor” rounds out the top five box-office flops. The loss on this project amounted to $117 million. The film, despite its well-known brand and potential for a unique story, failed to attract enough audience to cover production costs.
Source: Gazeta
Bruce is a talented author and journalist with a passion for entertainment . He currently works as a writer at the 247 News Agency, where he has established himself as a respected voice in the industry.
