Deadline reports that Disney CEO Bob Iger had good and bad news on a Q1 earnings call yesterday. The bad first: Disney initiates a $5.5 billion cost-saving plan that nixes 7,000 jobs across the entire company. And the good? Disney has sequels on the way for three of their most popular animated franchises.
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“Today, I’m so pleased to announce that we have sequels in the works from our animation studios to some of our most popular franchises, “Toy Story,” “Frozen,” and “Zootopia,“” said Iger on the call. “We’ll have more to share about these productions soon, but this is a great example of how we’re leaning into our unrivaled brands and franchises.”
The news fits Disney’s recent narrative of going back to what works after Iger took over the CEO job from Bob Chapek again late last year. And, as per usual, this sequel news is all about the numbers. “Frozen,” “Toy Story,” and “Zootopia” are all proven commodities for the company, with each franchise’s latest installment making over $1 billion each.
That’s more than “Strange World” can say for itself. That film made only $74 million worldwide before Disney shunted it to Disney+ roughly a month after its theatrical release. “Encanto,” another recent Disney animated film, fared better than “Strange World” on Disney+, but still did poorly at the box-office. That film made $256 million globally and $96 million stateside; not terrible theatrical numbers for the COVID era, but not on the same level as Disney’s more successful animated franchises.
And all three Disney franchises getting sequels are also critical hits on top of commercial successes. “Zootopia,” for example, won an Oscar for Best Animated Feature in 2017. “Frozen” also won the same award in 2014, along with Best Song for “Let It Go”; “Into The Unknown” from “Frozen 2” was also nominated for Best Original Song in 2020. As for “Toy Story 4,” it won Best Animated Feature in 2020 and had a nom for Best Original Song for Randy Newman‘s “I Can’t Let You Throw Yourself Away.”
So, with Iger back at the helm, it’s safe to say that Disney wants to stick with what works as a company. That’s good news for fans of “Frozen,” “Toy Story,” and “Zootopia,” but not so good news for those who wish the entertainment conglomerate would take some more risks. But again, the numbers don’t lie, and that’s what drives Disney’s business. If recent original animated films like “Strange World” fared better with critics and audiences, then maybe stuff like “Toy Story 5” wouldn’t be an option for Iger & co. So, here we are.