Disney reported an across-the board drop in profits for its third-quarter earnings report, taking a loss of $12 million from its studio entertainment division.
The company said last year’s crop of third-quarter movies, TV shows and DVDs ‘ including Ratatouille, National Treasure 2, Enchanted, The Game Plan ‘ were beating out this year’s crop, according to The Hollywood Reporter.
CEO Robert Iger told analysts that of this year’s crop of movies, G-Force was doing well but was not a windfall for the studio because of its high cost, and the Pixar film Up is not seen as a franchise starter that can provide sequels and merchandising for years to come.
Overall, net income at Disney fell 26% to $954 million on revenue that dipped 7% to $8.6 billion.
