Disney is working on sequels to “Toy Story,” “Frozen” and “Zootopia,” three big hits as the entertainment powerhouse attempts to find its footing under newly returned CEO Bob Iger.
The Walt Disney Company is undergoing a “strategic transformation,” Iger said on Wednesday. This includes 7,000 job cuts announced this week and a renewed focus on core brands and franchises.
Iger, who returned as CEO in November after a challenging two-year stint by his chosen successor Bob Chapek, announced plans for new films during Disney’s first-quarter earnings call on Wednesday.
Disney owns Star Wars, Marvel and Pixar. Its latest Marvel film, “Ant-Man and the Wasp: Quantummania,” opens February 17.
The Burbank, California, company said it wants to ensure that executives in charge of content creation have prominence in the creation of movies, TV shows or other content, as well as the marketing and distribution of those products.
“Toy Story” is a long-running film franchise for Disney. The original film, which was the first computer-animated feature film and the first feature release from Pixar Animation Studios, came out in 1995. It received a Special Achievement Academy Award in 1996, as there was no Best Animated Feature Film category at the time. ,
The most recent sequel, “Toy Story 4,” was released in 2019 and won two animated film Oscars in 2020, becoming the first franchise to do so. The predecessor “Toy Story 3” won the Academy Award for Best Animated Feature in 2011.
A prequel film called “Lightyear” was in theaters last year.
The original “Frozen” movie was released in 2013 and won the Academy Award for Best Animated Feature Film in 2014. The sequel, “Frozen II,” was in theaters in 2019.
Disney made nearly $13 billion at the worldwide box office in 2019 with a strong slate of movies including “Toy Story 4,” “Frozen II,” “Avengers: Endgame” and others.
Unlike “Toy Story” and “Frozen,” “Zootopia” does not yet have a sequel. The original film came out in 2016 and won the Academy Award for Best Animated Feature in 2017.
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