Walt Disney Co. Chief Executive Bob Iger got right to the point in a conference call last week to discuss the company’s financial performance with Wall Street analysts.
“Let me start off by saying how thrilled we are with the global success of ‘Iron Man 2,'” he said. “It makes me even more enthusiastic about the great things that Marvel and Disney can do together.”
“Iron Man 2” was put into production before the Burbank entertainment giant acquired the comic book publisher turned movie-maker in December for $4 billion. But it nonetheless epitomizes Iger’s strategy for Disney: build “brands” on the big screen that can earn more profits through sequels as well as spin-offs including toys, television shows, digital media and theme park attractions.
The big question surrounding Marvel since the acquisition has been how much value its library brings to mainstream audiences that have never heard of Namor the Sub-Mariner, Dr. Strange or Ant-Man.
Before the release of the first “Iron Man” in 2008, few people outside those who frequent comic book stores had heard of billionaire Tony Stark and his red and gold super suit. Now he has generated more than $1 billion in worldwide box office and is Marvel’s bestselling consumer products property, exceeding even Spider-Man.
The web slinger, along with other high-profile superheroes such as the Fantastic Four and X-Men, are tied up in long-term licensing deals with other movie studios.
Now Disney is hoping that Iron Man provides Marvel a model for turning subprime superheroes from its 5,000-plus character library into investment-grade franchises.
Click here to keep reading this article from Ben Fritz and Dawn Chmielewski at the LA Times.
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