Disney’s Iger on Prince Caspian
Posted May 28, 2008 10:29 am by fantasia_kitty
A highly competitive film season is weighing on the returns of “The Chronicles of Narnia: Prince Caspian,” Walt Disney Co. Chief Executive Robert Iger said at an analyst conference Wednesday.
Speaking at the Bernstein Strategic Decisions Conference, Iger said the second installment in the “Narnia” series is not doing as well as the first, nor as well as Disney officials had hoped.
Iger pointed out that the movie business is a crowded field, and the marketplace can’t always accommodate all the releases that a studio puts out.
“I think there are too many movies being released in the marketplace,” Iger said, later adding, “It’s a very delicate, very fragile marketplace.”
“Prince Caspian” was released May 16 and has made an estimated $146 million in worldwide receipts thus far. But the movie’s production costs are estimated at $200 million. In order to turn a profit in theaters alone, “Prince Caspian” would have to make roughly $500 million worldwide when marketing costs are included. The film is expected to have a home video life, however.
Read the rest of the story here.