Disney CEO Josh D’Amaro admitted on the company’s latest earnings call that “Star Wars: The Mandalorian and Grogu” and the live-action “Moana” remake both underperformed at the box office this summer, although he maintained that both titles were not outright busts for the studio as they contributed to merchandise sales, drove people to theme parks and more.
“Even when our franchise films don’t meet our box office expectations, as with the ‘Mandalorian and Grogu’ and the live-action ‘Moana,’ our investments in these core properties fuel other parts of our company,” D’Amaro said.
“‘The Mandalorian and Grogu’ drove healthy growth in retail sales for the ‘Star Wars’ franchise and drew guests to the updated Millennium Falcon attraction at Disneyland and Walt Disney World, and led to significant engagement in gaming as well,” he explained. “And the live-action ‘Moana’ is expected to be a strong title on Disney+, building on the success of the original film, which is one of the most-streamed movies of all time.”
Disney summed up its outlook on these box office disappointments by writing in its earnings release: “These franchise investments contributed to value creation beyond their theatrical releases.”
