Star Wars fans had a lonely Christmas last year without a Star Wars movie to greet the holiday season and it looks like Disney's feeling some of the financial repercussions of its marketing mistakes.
While the Mickey Mouse House still managed to beat Wall Street expectations, the company's earnings fell sharply compared to the first quarter of 2018 with a Star Wars movie to help boost its earnings. According to a report by CNN Business, Disney's theme parks and TV networks might have enjoyed growth in the first quarter of the year, however, the Mickey Mouse House's film unit revenue took a major 27& hit, falling close to $1.8 billion.
While Disney might have had Mary Poppins Returns and its $325 million earnings during the holidays, the company missed out on its usual Star Wars festivities. Instead of choosing to release Solo: A Star Wars Story in December, Disney dropped the film in May last year. Not only that, but the studio poorly marketed the movie, afraid that it would distract filmgoers from Marvel's Avengers: Infinity War.
Without a Star Wars film for the holidays, Disney's net income fell down by 37% compared to the same quarter a year back. You can't deny the power the Star Wars franchise has on the box office market. Star Wars: The Last Jedi, despite its divisiveness, reaped $1.3 billion at the worldwide box office last year. Compare that with Mary Poppins Returns' earnings, and $325 million sounds like peanuts.
However, 2019 definitely is setting out to be a big year for Disney. Not only is Star Wars: Episode IX set for release in December this year, but Marvel is also rolling out the big guns with Captain Marvel, Avengers: Endgame, and Spider-Man: Far From Home.
Star Wars: Episode IX premieres December 20, 2019.
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