Disney is working on sequels for 鈥淭oy Story,鈥� 鈥淔rozen鈥� and 鈥淶ootopia,鈥� three huge hits as the entertainment powerhouse attempts to find its footing under newly returned CEO Bob Iger.
The Walt Disney Co. is undergoing a 鈥渟trategic transformation,鈥� Iger said on Wednesday. That includes 7,000 job cuts announced this week and a renewed focus on core brands and franchises.
Iger, who returned as CEO in November following a challenging two-year tenure by his handpicked successor, Bob Chapek, announced the plans for the new movies during Disney鈥檚 first-quarter earnings call on Wednesday.
Disney owns Star Wars, Marvel and Pixar. Its latest Marvel movie, 鈥淎nt-Man and the Wasp: Quantumania,鈥� opens on Feb. 17.
The Burbank, California, company said it wants to make sure that executives in charge of content creation have a prominent say in what movies, TV shows or other content to produce, as well as the marketing and distribution of those products.
鈥淭oy Story鈥� is a long-time movie franchise for Disney. The original film, which was the first computer-animated feature film and the debut feature release from Pixar Animation Studios, came out in 1995. It received a Special Achievement Academy Award in 1996, as there was no best animated feature film category at the time.
The most recent sequel, 鈥淭oy Story 4鈥� released in 2019 and won two animated film Oscars in 2020, becoming the first franchise to accomplish that. Predecessor 鈥淭oy Story 3鈥� won the best animated feature Academy Award in 2011.
A prequel film, called 鈥淟ightyear,鈥� was in theaters last year.
The original 鈥� Frozen 鈥� film released in 2013 and won the Academy Award for best animated feature film in 2014. The sequel, 鈥淔rozen II,鈥� was in theaters in 2019.
Disney made about $13 billion in worldwide box office in 2019, helped by a strong slate of movies that included 鈥淭oy Story 4,鈥� 鈥淔rozen II,鈥� 鈥淎vengers: Endgame鈥� and others.
Unlike 鈥淭oy Story鈥� and 鈥淔rozen,鈥� 鈥淶ootopia鈥� has yet to have a sequel. The original movie came out in 2016 and won an Academy Award for best animated film in 2017.
By Michelle Chapman
THE ASSOCIATED PRESS
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