Disney Acknowledges Box-Office Misses While Emphasizing Franchise Value

The live-action “Moana” remake, starring Dwayne Johnson as Maui, has earned about $262 million globally against a reported production budget near $250 million, leading Disney analysts to project a $100 million theatrical loss.

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Company executives stressed that box-office receipts are only one metric of a franchise’s worth. CEO Josh D’Amaro noted that even when a film falls below expectations, the associated intellectual property continues to generate revenue through retail sales, theme-park attractions, and gaming. CFO Hugh Johnston added that Disney’s diversified portfolio allows it to absorb volatility in the film segment, treating each release as part of a broader “flywheel” of storytelling and consumer products.

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During the same call, D’Amaro highlighted the record-breaking performance of “Spider-Man: Brand New Day,” a Marvel Studios collaboration with Sony Pictures. He described the film’s success as evidence that audiences still seek “great theatrical experiences” and said it bodes well for the upcoming “Avengers: Doomsday,” slated for release in December.

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D’Amaro’s remarks framed the underperforming titles as strategic investments that sustain Disney’s long-term franchise ecosystem, while Johnston reiterated the company’s commitment to delivering consistent financial results across its portfolio. Both executives emphasized that the theatrical window is only one data point in evaluating a film’s overall contribution to Disney’s business.

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• “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,” — Josh D’Amaro, disney CEO

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• “Congratulations to Sony, Kevin Feige, and the Marvel Studios team. It’s an unbelievable result, and it’s one more example that audiences will turn out in force for great theatrical experiences,” — Josh D’Amaro, disney CEO

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