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. Government incentives saved the groomers about $125 million on both features, but that’s still about $640 million to produce only two movies.
It’s not even clear if the promotional costs are included in that $762.4 million number. If not, between production and publicity, Disney spent close to a billion dollars on those two flops.points out, those two hits, plus 7,300 job cuts and $7.5 billion in budget cuts, have not jump-started Disney’s stock price, which “is more than 50% down on its March 2021 peak of $201.91.”
Talking at the earnings announcement in August, Disney’s chief financial officer Hugh Johnston explained that “we saw attendance flat in the quarter” with a “flattish revenue number” forecast for the fourth quarter and a slowdown expected for “a few quarters.”
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