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Disney to ‘focus on quality’ as it plans to cut output – including Marvel movies
CEO Bob Iger says company will scale back releases in superhero franchise as it seeks to take on Netflix in streaming market
The Hollywood giant is cutting back on productions from the Marvel Cinematic Universe, which ramped up releases in recent years as Disney embarked upon an expensive bid to take on Netflix. While Disney’s entertainment streaming services broke even for the first time, generating operating profits of $47m, from a loss of $587m a year beforehand, it braced investors for a “softer” performance in the current quarter. The company had been “heartened by” the recent performance of Netflix, which revived growth in part by targeting users sharing accounts, and persuading them to start paying for a subscription, Iger said.
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