Industry News: House Of Mouse

[ThaOGDreamWeaver]

 

Normally, boardroom shenanigans don't necessarily affect the kind of content us peons enjoy.

However, in, this case it may well do, if you're a D+ subscriber.

 Longtime CEO Bob Iger has been recalled to his role and his handpicked replacement Bob Chapek promptly, dismissively iced.

 

For people whose companies are share-listed, many industry prognosticators will set what they think you'll earn, as a multiple of the number of shares in circulation. It's based on what you've been telling the market, plus wider market analysis, so you'd better hit it. Q3 was expected to grow by around half to 56¢ per share and $21bn in revenue, compared to Q3 2021.
They missed.

For stonks fanciers, that is bad news.

 

While the revenue wasn't that short - $20bn - the cleared earnings total was only 30¢ per share, due to a loss of $1.47bn across all their streaming platforms (D+, ESPN+, Hulu), originating from content and marketing spending. That wiped 13% off DISN stock - or about $24bn in value. Stonks people not happy, and out for blood. They got it.

 

That was the nail in Chapek's coffin, but the mishandling of the Don't Say Gay affair, the public spat with Johannson, a general dislike for Whollyodd schmoozing, and a fairly blunt management style had pretty much put him there.

 

Iger now has two jobs - get back in and turn around those losses, and fend off a bunch of notorious activist investors hungry for profits, even if it means breaking the company up.

 

Key things that may happen as a result:

• Changes or cutbacks at D+. They've got a vast library now, they can afford to dial down the acquisition spending for a bit, and they've racked up impressive subscriber numbers. D+ are also adding an ad-supported tier like Netflix.
• Cutbacks generally. Anything underperforming is likely to get sold if someone thinks it's worth it, sidelined or redlined if not.
• Buy out Hulu completely from Comcast, and deepen the content partnership with FX.
• Sell off ESPN.
• Chapek held off doing another Star Wars tentpole movie, favouring Obi-Wan and Andor to drive people to D+. Mando S3 is in the can and hopefully S2 of Andor is safe, but Chapek had already cut it back from 5 seasons. It's possible this is why Patti Jenkins dragged her heels on the Rogue Squadron development.

[Techwright]

On 11/23/2022 at 4:36 PM, ThaOGDreamWeaver said:

 

• Chapek held off doing another Star Wars tentpole movie, favouring Obi-Wan and Andor to drive people to D+. Mando S3 is in the can and hopefully S2 of Andor is safe, but Chapek had already cut it back from 5 seasons. It's possible this is why Patti Jenkins dragged her heels on the Rogue Squadron development.

I can't see S2 of Andor being stopped short of bankruptcy.  It's already filming for one.  For another S1 is getting rave reviews, even if the audience wasn't there, exactly.  I rather think it is due to a variety of reasons outside of the series.  That suggests that Andor may be coming on strong later.  We have a year and change for word to spread regarding its quality, and for those who missed it to catch up.   Andor will likely either be a late bloomer with audiences, or grow into a cult favorite, both of which can be long-term profitable.

 

According to what I was told, Andor dropped to 2 seasons from 5 because the star, Diego Luna, didn't want to commit to 5 years.  If season 1 is any telling, cutting out all the potential filler stories has made this a better product, though I'd be fine with an addition 1/2 season.  2.5 storytelling years to tell a 5 year story.

 

I thought Rogue Squadron floundered when Gina Carano was fired?  I'd heard her character of Cara Dune was supposed to be the lead.

 

 

[ThaOGDreamWeaver]

18 minutes ago, Techwright said:

I thought Rogue Squadron floundered when Gina Carano was fired?  I'd heard her character of Cara Dune was supposed to be the lead.

Not heard that one, even from the Sithier parts of the fandom. (Then again, I consider Reddit kind of like the Vergence on Dagobah. I ain't goin' in there again.)

Plus her character's a dropship trooper, not a pilot, so doesn't make a huge amount of plot sense.

 

What I heard's a little more prosaic, and ties into the Chapek news. Patty Jenkins was committed to Wonder Woman 3, and then offered a Cleopatra flick with Gadot as well.

Two big, epic movies to plan, and Chapek... wasn't particularly committed to new Star Wars flicks. Not with D+ to feed, and it is one hungry little beast. Chapek was also famously not as talent-friendly as Iger. So she dropped out of Rogue Squadron, and nobody from Chapek's coterie was assigned or inclined to talk her back into it.

 

But recently Kari Skogland (Falcon & The Winter Soldier, Handmaid's Tale) has taken over Gal's sword-, sandal- and sex-fest, and with James Gunn reworking the schedule at DC, Patty has some free time again. So Rogue Squadron is... back in Development Hell, but at least alive.

 

Andor will also be getting a proper-telly release via ABC and FX to spread the word a bit, and maybe entice some more folks over to D+. Unless their faith is faltering...

Edited December 5, 2022 by ThaOGDreamWeaver

[Mr. Vee]

Carano was supposed to be lead in Rangers of the New Republic. Not sure if that's still in development with her firing or not.

[Techwright]

8 minutes ago, ThaOGDreamWeaver said:

Andor will also be getting a proper-telly release via ABC and FX to spread the word a bit, and maybe entice some more folks over to D+. Unless their faith is faltering...

 

Reading the news blurb, I'm surprised they're only going to be airing the first 2 episodes.  D+ aired the first 3 together, and from what I read it was generally agreed this was a good move, as the first two shows had slower pacing while establishing the show.  Three was where the action payoff really started to happen according to this viewpoint.

 

4 minutes ago, Mr. Vee said:

Carano was supposed to be lead in Rangers of the New Republic. Not sure if that's still in development with her firing or not.

Ah, I see I got a couple of series confused.  Thank you for the correction.

[ThaOGDreamWeaver]

On 12/5/2022 at 3:23 PM, Mr. Vee said:

Carano was supposed to be lead in Rangers of the New Republic. Not sure if that's still in development with her firing or not.

Per Kathleen Kennedy, ROTR was dead as of at least Nov 2021, without even a finished script to its name.

That said, some of the concepts are supposed to be showing up in Mando S3.

I suppose a Mandalorian civil war would be a pretty big mess for the New Republic to try and clean up...

 

EDIT: quick note from today’s news. WW3 is officially canned at DC Studios under Gunn. Patty submitted a treatment but it will not move forward. So both of her big projects got rugpulled… I guess Rogue Squadron could come back now?

Edited December 8, 2022 by ThaOGDreamWeaver