Disney says Toy Story and Frozen sequels on the way as streaming numbers fall

DISNEY chief executive Bob Iger has announced sequels for Toy Story, Frozen and Zootopia as he detailed plans to turn around its streaming business.

Mr Iger said that Disney’s animation studio has sequels “in the works”.

Meanwhile, the firm revealed its first fall in subscriber numbers since its Disney+ streaming service launched in 2019.

And Mr Iger said he would cut 7,000 jobs in a major shake-up of the entertainment giant.

In a call to investors, Mr Iger spoke about his plans to monetise some of its biggest franchises.

“I’m so pleased to announce that we have sequels in the works from our animation studios to some of our most popular franchises: Toy Story, Frozen and Zootopia,” he said.

“We’ll have more to share about this production soon, but this is a great example of how we’re leaning into our unrivalled brands and franchises.”

The latest instalments would be the third in the Frozen franchise and a second Zootopia. There have already been four Toy Story films as well as last year’s spin-off Lightyear.

The announced job cuts amount to around 3.6% of Disney’s workforce around the world and are part of a plan to save $5.5bn (£4.5bn) and make its Disney+ streaming service profitable. Mr Iger said he did “not make this decision lightly”.

The changes came alongside its latest quarterly figures, his first since he returned to Disney in November.

Mr Iger said the changes would “better position us to weather future disruption and global economic challenges”.

Disney reported an 8% rise in sales to $23.5bn between October and December last year. Profit also rose by 11% to $1.3bn.

However, Disney+ reported a $1.5bn loss and its subscribers fell by around 2.4 million to 161.8 million.

The plan will see the company restructure into three segmentsentertainment which will include film, TV and streaming; sportsfocused ESPN and Disney parks, experiences and products.