Boardwalk Times: Stories from the Seashore — Bob Iger's Big Month and Kevin Feige's Fantastic Retool
This month's newsletter we take a look at Bob Iger's big month, Kevin Feige's Marvel retool, Disney Succession update, and more.
Welcome back to Boardwalk Times: Stories from the Seashore!
In this issue, we will be covering:
Bob Iger’s Big Month: Epic Games, Moana 2, and Taylor Swift 🤑📈
Kevin Feige’s Fantastic Retool: Deadpool & Wolverine, Fantastic Four, and X-Men ‘97 Give Marvel Studios Hope 🎞 🙌
Disney Succession Watch: Check-In 👀💰
Podcast Plugs 🎙
Links of the Month 📰
We’ve gained a few new subscribers this month (some from various organizations in the entertainment industry 👀), so I wanted to ask a question.
Referral Program
Refer your friends to subscribe to this newsletter and earn some rewards by moving up the leaderboard! Rewards include a newsletter shoutout, a Zoom meeting with me where we can chat all things Disney and themed entertainment, and even a discount to the Boardwalk Store!
Bob Iger’s Big Month: Epic Games, Moana 2, and Taylor Swift
Ever since his triumphant return to Disney, Bob Iger hasn’t seemed like himself. The upbeat and optimistic CEO who usually does his best to channel “Uncle Walt” seemed overwhelmed, unaware, pessimistic, and was making PR gaffes like he’s never done before.
I have covered Disney’s quarterly earnings calls for a long time, and I can safely say that the Q1 2024 call was the return of classic Bob Iger. Even in his leadup interview with CNBC, he didn’t take the obvious bait on the Elon Musk question. During the call, Iger brought back his trademarked approach; announcements and overall optimism.
Iger’s three biggest announcements were Disney’s partnership with Epic Games, Moana 2, and Taylor Swift to Disney+. Iger also announced the renewal of Percy Jackson which was a nice touch. He also gave details on ESPN’s future by confirming that the direct-to-consumer version would arrive in the summer of 2025. Iger also confirmed a $3 billion stock buyback and a higher pay dividend. Wall Street reacted positively to the news. Nelson Peltz didn’t. He thought it was all talk.
Yet this was the exact quarter Disney needed as they head into their Annual Shareholders Meeting in April.
Disney’s relationship with Epic Games marked Disney’s biggest leap into the world of gaming. Iger and Co. also realized that video games could be a more robust revenue stream for the mouse house. This quote below is telling, “shop for both digital and physical goods.”
“Our new relationship with Epic Games will create a transformational games and entertainment universe that integrates Disney’s world‐class storytelling into Epic’s cultural phenomenon, Fortnite, enabling consumers to play, watch, create, and shop for both digital and physical goods.” — Disney CEO Bob Iger
It is hilarious some of the biggest moves during Iger’s second run have come straight out of the Bob Chapek Metaverse playbook. Chapek wanted to do the exact thing Iger is doing with Disney for Apple Vision Pro and Epic Games. It’s remarkable watching it happen in real-time.
“Younger audiences, in particular, are huge consumers of video games. In fact, among Millennials, Gen Z, and Gen Alpha, a significant amount of time spent on screen‐based platforms is playing video games. This new universe from Disney and Epic provides us with a tremendous opportunity to not only meet more consumers where they are, but to allow more audiences to cultivate a bond with Disney’s iconic brands and franchises, including Marvel, Star Wars, and much more.” — Disney CEO Bob Iger
Bob Iger was against Disney entering the gaming space for years, and all it took was Disney Experiences Chairman Josh D’Amaro and Disney Head of Gaming Sean Shoptaw showing him data that younger generations love gaming. I think he must’ve realized Disney was missing out on another way to connect to their audience and the sheer fact Disney was leaving money on the table.
Disney’s Epic Games Universe looks like a massive digital theme park. It could be on the level of Disney+ if it’s done right. A 24/7 Disney universe has unlimited potential. Unlike the real-life Disney Parks, Disney could constantly be evolving the “Fortnite version of Walt Disney World.” Iger already hinted at distributing Disney content on the service and having the ability for gamers to buy physical & digital goods.
Iger’s other announcements will also bear some nice results. Taylor Swift: The Eras Tour will likely add subscribers to Disney+. Disney paid $75 million for the concert film, which seems a lot on paper but this film should perform well on streaming. Also, add in the fact that Disney is firmly in the Taylor Swift business, who knows what else may be coming down the line to Disney+? It’s worth noting that Taylor Swift is making her feature film directing debut here soon, and she’s making the film for Disney’s Searchlight banner. Searchlight produces Disney’s arthouse fare but in this scenario, they may have a potential box office hit on their hands especially if Swift’s fans turn out for it.
Lastly, Iger announced Moana 2 would premiere in November. The Disney+ series turned film makes a ton of sense. We hadn’t heard a peep about the Moana Disney+ series up until that point. After Strange World and Wish, Disney Animation needed a safe bet for 2024 and Moana is a beloved film and a rising franchise for Disney. Disney is wasting no time adding Moana to the Disney Parks, Moana is watched a ton on Disney+, and Disney is making a live-action version as well. The Moana Disney+ series would’ve likely lost money, and it wouldn’t have attracted any new subs for Disney+. In all honesty, there was a good chance it would been a six-part series that plays like a film broken off into parts. In the end, this was probably the best decision for all parties involved. Disney gets a box office boost. The creatives get to see their work on the big screen. Also, I wouldn’t be shocked if Moana 3 gets greenlit if Moana 2 performs well. I could also see them doing Moana 3 as a way to do a proper from-the-start Moana sequel.
The last thing that caught my eye on the Q1 call was Disney’s new CFO Hugh Johnston explaining the $60 billion Disney Parks investment.
“We plan to invest approximately $60 billion into the business over the next ten years, of which approximately 70% is earmarked for incremental capacity‐ expanding investments around the globe, which we expect to generate attractive returns.” — Disney CFO Hugh Johnston
That comes out to be $42 billion for capacity-expanding investments. Disney will have to make some big announcements at D23, but I still think Disney will end up spending way more if they are serious about “turbocharging” their parks.
Disney made three forward-thinking moves during its Q1 call. Disney found a strategy in a space that’s often alluded them (Epic Games partnership), signed a deal to distribute the most in-demand concert film in the world — a move that could lead to further collaboration with one of the most popular stars in the world (Taylor Swift), and retooled a Disney+ series that would’ve lost money into a potential blockbuster to bolster a smaller theatrical slate (Moana 2).
Can Iger and Co. continue the momentum? Especially heading into the big Shareholders Meeting in April?
Have a topic you want me to cover? Drop me a line at boardwalktimes@yahoo.com!
Kevin Feige’s Fantastic Retool: Deadpool & Wolverine, Fantastic Four, and X-Men ‘97 Give Marvel Studios Hope
Marvel Studios had a tough 2023. Ant-Man and the Wasp: Quantumania underperformed and the Jonathan Majors arrest followed a few months later, Secret Invasion flat out missed, and The Marvels failed victim to an audience that bought into the ongoing superhero fatigue narrative instead of just checking out the film for themselves (it was a blast!).
Kevin Feige’s Marvel Studios is now retooling on the fly but this February they were racking up simple wins, and the hype is growing.
Deadpool & Wolverine trailer lit up the Super Bowl.
The Fantastic Four cast was announced on Valentine’s Day. Marvel Studios also revealed a retro design for the film which confirms that the setting will be in the 1960s.
X-Men ‘97 used nostalgia in its first trailer and Marvel Studios also revealed the Marvel Animation logo for the project (which is the Marvel Studios logo but instead of Studios it says Animation).
The Hollywood Reporter wrote about Marvel Studios retooling and it gave us some tidbits of news.
Agatha seems promising according to reports. WandaVision showrunner Jac Schaeffer will likely deliver a surprise hit here.
Eric Pearson, who did work on Thor: Ragnarok and Black Widow, is polishing The Fantastic Four script. I’ve heard so many different writers attached to The Fantastic Four script but I have to imagine it’s pretty solid. Seems like Marvel Studios wants to get these films right going forward.
Marvel is still searching for characters and actors to carry its universe after Robert Downey Jr.’s Iron Man and Chris Evans’ Captain America retired. I’m confused by this statement because Marvel seemed like they had a good bench, post-Endgame. It just seems like the pandemic has clogged its opportunity to create new and consistent stars. RDJ and Evans consistently appeared in projects, and other MCU stars haven’t had that opportunity besides Benedict Wong (who plays Wong).
Joanna Calo, the showrunner of the acclaimed FX series The Bear, is working on the script for Thunderbolts. The creative teams from Beef and The Bear working together on Thunderbolts… Feels like they are taking one of their nerdier-centric projects and making it more attainable for general audiences. As we’ve seen with past MCU projects sometimes writers/directors of other shows don’t always translate well into the MCU.
Captain America: Brave New World is undergoing reshoots. It seems like some stuff will be reworked. I sincerely hope Marvel Studios makes Captain America: Brave New World and Thunderbolts a much-needed, connected one-two punch.
Avengers: The Kang Dynasty is now Avengers 5. Yet I still feel like we are a bit away from Avengers 5 because the New Avengers team hasn’t even assembled yet. The moving away from Kang was inevitable but there is still a possibility the character is recasted. Kang the Conqueror being the big bad could’ve been terrific but I think they made a few critical errors with the Kang story.
Spider-Man 4 rumors are running rampant. Hopefully, we get an announcement here soon with a director attached. It seems like Sony and Marvel Studios have differing agendas. Sony wants to do a multiverse sequel. Feige wants to do a street-level story (likely so he can include MCU street-level heroes like Daredevil, Echo, Kate Bishop, etc.). Spider-Man producer Amy Pascal also has the desire to bring Miles Morales into live-action, and I’m sure that will create another Marvel/Sony tug-of-war.
The Marvel Studios retool isn’t stopping the studio from developing new projects either. A Young Avengers project will likely be a film, that project was teased at the end of The Marvels. Despite slowing down it seems like there are plenty of priority projects they want to do. The retool is ongoing, and I’m sure we will get a boatload of details from Kevin Feige come August at D23. For now, it seems like there is positive momentum on their side.
Disney Succession Watch: A Check-In
Disney Entertainment Co-Chairman Dana Walden decided to layer ABC News boss Kim Godwin with a new boss in Debra OConnell. The move showcased Walden’s shrewd and stealthy decision-making. Godwin used to report directly to Walden, now she will report to OConnell.
Hollywood trades believe Dana Walden is Bob Iger’s successor and it’s her job to lose. Yet, THR specifically cites Disney Experiences Chairman Josh D’Amaro as a rival to Walden for the CEO gig. The article mentions D’Amaro’s loyal following at Disney and the approval of a $60 billion parks investment. We also can’t forget that D’Amaro is one of the main reasons, Iger decided to get Disney into a bigger partnership with Epic Games.
The internal succession race at the Mouse House is between Dana Walden and Josh D’Amaro. Sean Bailey, Former Walt Disney Studios Motion Picture President, was thought of as a contender at one time but has since left the studio.
As 2025 is right around the corner, we will likely hear more on the succession front.
If you like what we do. Please support us on Ko-Fi. Speaking of Ko-Fi, we are going to be adding some paid tiers on there in 2024 along with expanded access and exclusive content.
Want to write for or help Boardwalk Times? Check this out.
Podcast Plugs 🎙
This is the Waycast: The Bad Batch is back. Join Giovanni, Sara, and Joaquin as they discuss the final season. (Spotify) (Apple)
Multiverse of Marvel will return soon with new episodes about Deadpool & Wolverine and more. (Spotify) (Apple)
The Zach Perilstein Show is gearing up for a return with new episodes. If there is a certain guest you want to see feel free to reach out to me! (Spotify) (Apple)
LINKS OF THE MONTH
— Inside Disney’s big bet on Apple Vision Pro and spatial computing. (Fast Company)
— Disney+ Needs Something Other Than ‘Star Wars’ and Marvel. Is Percy Jackson the Missing Piece? (The Ringer)
— Inside the Hidden Poverty Crisis at Universal Studios Hollywood. (The Hollywood Reporter)
— Disney harnesses AI to drive streaming ad technology. (Reuters)
— FX Chief Jon Landgraf predicts that the streaming wars will end with Netflix and Disney on top along with Amazon or Apple. Same prediction I have. (The Hollywood Reporter)
— Disney Channel nostalgia is a hot commodity these days! Disney Channel Stars Will Friedle and Sabrina Bryan launched a new podcast called Magical Rewind. (The Daily Beast)
— The Disney Channel star who’s now a space CEO. (Morning Brew)
— Disney Accelerator this year includes three AI companies, an autonomous vehicle company, and a VR/AR sports experience company. (Boardwalk Times)
— Percy Jackson in the Disney Parks: What Could Imagineering Do? (Boardwalk Times)
— A dive into Former Disney CFO Jay Rasulo. (Wall Street Journal)
If you’re interested in a paid version of this newsletter. Make a pledge for the future.
If you want to support Boardwalk Times: Stories from the Seashore here are three things you can do.
Share this newsletter with friends!
Subscribe to the newsletter!
Please follow us on social media @BoardwalkTimes and visit boardwalktimes.net for more commentary, news, and opinions on the worlds of Disney and themed entertainment.