Disney to Reduce Number of Marvel Movies as Stock Plummets

CEO Bob Iger says focus will be on ‘quality,’ as shares fell by more than 9.5 percent. This was Disney’s worst single-day decline in 18 months.

Disney Executive Chairman Bob Iger attends the Exclusive 100-Minute Sneak Peek of Peter Jackson's "The Beatles: Get Back" at El Capitan Theatre in Hollywood, Calif., on Nov. 18, 2021. Charley Gallay/Getty Images for Disney

Disney intends to reduce the number of movies it produces to “focus more on quality,” CEO Bob Iger said during an earnings call this week.

Walt Disney released its second-quarter earnings report for fiscal year 2024 on May 7, showing a marginal 1 percent increase in revenues from the same quarter last year.