We’re almost into March of 2024, and Disney has been taking a long, hard look at itself after the disastrous 2023. When two of the most seemingly slam-dunk, profitable IPs are under your umbrella, business should be good, but alas, both Star Wars and Marvel have been plummeting in profits and reception for the House of Mouse. Bob Iger has been adamant about pulling back on the output of the franchise projects so as to not oversaturate the market. Additionally, the streaming service, Disney+, has seen a significant dip in subscribers after they lost 1.3 million accounts once they raised the prices. They have reportedly taken $300 million in streaming losses.
Variety has reported a big shake-up is now happening to the company as Disney now replaces Sean Bailey, who has been the motion picture group’s president of production for the past 15 years. David Greenbaum will now be stepping in as the live-action production president which will be combined with 20th Century Studios, a banner once known as 20th Century Fox until Disney purchased the company. The Disney live-action division oversees spin-offs and remakes of the studio’s classic films. Greenbaum is set to report to Disney Entertainment co-chairman Alan Bergman, effective immediately.
Bergman released a statement that says, “David has an incredible creative sensibility and eye for film, and he has built a reputation as an exceptional leader and creative executive, as proven by his track record at Searchlight Pictures and deep relationships throughout the industry. I’m thrilled that he’ll be taking on this new and important role.” He also addresses Bailey’s departure, “Sean has been an incredibly important member of the Studio’s creative team for well over a decade. He and his team have brought to the screen iconic stories and moments that have delighted fans around the world and will stand the test of time. I know he’ll continue to do great things.”
20th Century Studios has theatrically released films like Avatar: The Way of Water and The Creator. However, a number of movies under the banner have been released through the Disney-owned streaming service, Hulu.