The Walt Disney Co. is estimated to have lost a stunning $890 million on its last eight studio releases, including The Little Mermaid and Elemental, according to a box office analyst.
Disney could see even more red ink since these titles are all destined for the Disney+ streaming service instead of other streamers, like Netflix or Amazon Prime Video, where they could generate additional revenue.
The YouTube box office analyst known as Valliant Renegade laid out his argument in a recent video in which he estimated that many Disney blockbusters actually lost money or barely broke even during their theatrical runs despite the news media spinning them as hits.
They include Black Panther: Wakanda Forever, Thor: Love and Thunder, Ant-man and the Wasp: Quantumania, and Guardians of the Galaxy, Vol. 3.
Disney could have another bomb on its hands in the form of Indiana Jones and the Dial of Destiny, which opens Friday. The fifth installment in the franchise has received scathing reviews since premiering at the Cannes Film Festival.
The analysis omits Avatar: The Way of Water since it was financed by James Cameron’s Lightstorm Entertainment before Disney’s acquisition of 20th Century Fox.
Valliant Renegade estimated that Disney could lose a whopping $1 billion in potential revenue due to the fact that the above titles will go to Disney+.
“That can’t go on forever. It’s just simple numbers, folks,” Valliant Renegade said in the video. “That’s where we are. The Walt Disney Company is just making all the wrong decisions not only creatively, but in the distribution channels as well.”
Disney is facing an unprecedented financial crisis with CEO Bob Iger attempting to slash $5.5 billion in spending, including laying off 7,000 workers worldwide.
The layoffs come after a disastrous 2022 that saw Disney stock plummet 44 percent — its worst year in nearly five decades. Former CEO Bob Chapek was abruptly fired in November on the heels of his last quarterly report.
Disney’s financial woes come as the company increasingly embraces transgenderism, critical race theory, and other forms of woke politics in its entertainment aimed at children.
Pixar’s Elemental, which had the worst opening of any movie in Pixar history, featured the studio’s first gender “non-binary” character in a theatrically released movie.