Disney CEO Bob Iger took the stage today at the historic New Amsterdam theater for a virtual company-wide town hall today. Though there were no new announcements of note to share, Iger was surprisingly candid about the studio's recent less-than-stellar performance at the box office (both recent releases The Marvels and Wish have performed poorly).

“I’ve talked about that a lot recently, because in assessing some of our performance, recently, one of the reasons I believe it’s fallen off a bit is that we were making too much," Iger said, as reported by Variety. "I think when it comes to creativity, quality is critical, of course, and quantity in many ways can destroy quality. Storytelling, obviously, is the core of what we do as a company.”

For those who have been following along with Disney's output, this belief is probably not surprising (though perhaps the public statement by CEO might be). Remember that Lucasfilm (owned by Disney) has pulled back from already-announced films, and Marvel (also owned by Disney) seems to be lightening their production schedule too. Whether or not this tack will change the quality (and box office) issues Disney is currently facing only remains to be seen.

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