After announcing the difficult news of the layoff of at least 7,000 employees, joining the list of companies that are making the famous layoffsDisney also announced that a new sequel to “Toy Story,” one of its biggest franchises, is already in development. The same was said for “Frozen 3” and “Zootopia 2”.
The news was given by Disney CEO Bob Iger during a conference call on quarterly results on Wednesday (8), as disclosed by the Variety.
The ‘Toy Story’ franchise consists of four chapters and a spin-off: 2022’s ‘Lightyear’. Although the latter film underperformed, ‘Toy Story 3’ and ‘Toy Story 4’ grossed over 1 billion dollars at the worldwide box office. The story of boy Andy and his toys has been told since the 1990s, having marked generations – which he looks like he will continue to do.
The first film ‘Frozen’ of 2013 follows the same successful streak, with the sequel ‘Frozen 2’ grossing over $1.4 billion at the worldwide box office in 2019, excluding Broadway, television and other franchise specials.
Facing the success of ‘Avatar: The Way of Water’, which was released in late 2022, Iger also said that a new ‘Avatar Experience’ is under development for the Disneyland theme park in California. This month, the sequel became the third-biggest international film in box office history, surpassing “Titanic.”
James Cameron, director of the two “Avatar” films (and also of Titanic), plans to release three more films in the saga in the next few years.
Disney: a phase of restructuring
In addition to announcing the layoffs during the same meeting where it talked about producing new films, the company also reported that Disney lost 2.4 million net subscribers in the last three months of 2022, marking the service’s first decline. streams since launch. at the end of 2020.
After a strong first quarter, we are embarking on a significant transformation that will maximize the potential of our world-class creative teams and our unrivaled brands and franchises. We believe the work we are doing to reshape our business around creativity while reducing expenses will lead to sustained growth and profitability of our streaming business, better position us to address future disruptions and global economic challenges, and add value to our shareholders.
Disney CEO Bob Iger
The layoff of 7,000 employees means the loss of 3.2% of its global workforce, part of a $5.5 billion cost-cutting strategy.
The post Disney announces the production of “Toy Story 5” and “Frozen 3” first appeared on Olhar Digital.
Source: Olhar Digital
Rose James is a Gossipify movie and series reviewer known for her in-depth analysis and unique perspective on the latest releases. With a background in film studies, she provides engaging and informative reviews, and keeps readers up to date with industry trends and emerging talents.
