Reuters and the Hollywood Reporter are reporting that Walt Disney Company CEO Robert Iger is blaming the poorer than expected performance of The Chronicles of Narnia: Prince Caspian on the timing of the film’s release. Iger was speaking at the Bernstein Strategic Decisions Conference when he said Prince Caspian is a better movie than the first installment (The Chronicles of Narnia: The Lion, the Witch, and the Wardrobe), but audiences are overlooking it because it was released less than two weeks after Iron Man opened and six days before Indiana Jones and the Kingdom of the Crystal Skull. Prince Caspian had originally been slated to release last Christmas, but Disney delayed it to avoid competing with The Water Horse: Legend of the Deep, the commercials for which could easily have been confused with those for Prince Caspian. Also, Walden Media, Disney’s production partner for Narnia, is the producer of Water Horse.
In its first two weeks in the theatres, Prince Capian has earned just about $100 million in North American box office. The Lion etc. earned more than $120 million in the same period in 2005. Indiana Jones, meanwhile, has already earned more than $160 million, and Iron Man broke $260 million.
Iger commented on the “very delicate, very fragile marketplace” for movies in general, noting that “there’s just too much out there.” The third Narnia movie is currently scheduled for release on 7 May 2010.