UPDATE: 'Mars Needs Moms' A Costly Disappointment, But Disney CEO Bob Iger Stays Upbeat About Marvel, ABC And ESPN

UPDATE, 4:15 PM: How costly a mistake was Mars Needs Moms? Disney says the studio lost about $70 million in release costs and in an impairment charge for a film it now calls “very disappointing.” Still, CEO Bob Iger tried — not always successfully — to avoid sounding sour today as analysts probed him about quarterly results that seemed to have befuddled many of them. Iger talked up the prospects for Disney’s upcoming sequels to Pirates of the Caribbean and Cars. He also banged the drum for The Avengers, the Marvel action film due next year. Now that Disney has negotiated an early exit from Marvel’s distribution deal with Paramount, Iger says the movie will be the “first really big initiative” from Disney’s acquisition of Marvel with the potential to “turn into a true franchise.” He adds that Marvel is developing a block of shows for Disney XD, as well as individual programs for ABC and ABC Family. Also on the television side, Iger says the coming upfront ad market will “be a strong one” — which is far more vague than CBS chief Les Moonves’ projection of “solid-double digit increases” for his network. Iger acknowledged that the last few years were “not as great” for ABC as they were during the heyday of its hits including Lost, Desperate Housewives and Grey’s Anatomy. But while he says that ABC has made “no decisions yet” about the primetime shows it will pick up for this fall, Iger adds that he’s “encouraged” by the pilots he has seen including “some really strong shows” from ABC itself. (more…)

This article was printed from https://deadline.com/2011/05/mars-needs-moms-and-fuel-costs-lead-to-sub-par-earnings-for-disney-130301/