Disney closes Blue Sky Studios. The animation studio has produced 13 feature-length films since its founding in 1987, including the Ice Age franchise, Rio, Ferdinand, Snoopy, and the Big-Bellied Cinema, Robots, Horton, and others. The latest film from Blue Sky Studios is Camouflage and Espionage, with Tom Holland and Will Smith as the main characters. The studio has recently been working on the cartoon “Nimona,” which was supposed to be released in 2022, but the project is now also closed.
The reason for this decision was “current economic realities.” Indeed, there is a reference to the COVID-19 pandemic, which has seriously hit the film industry. Indeed, Disney has faced some financial problems over the past year. In the third quarter of last fiscal year, the company posted $11.8 billion in revenues, down 42% from earlier. Disney has lost a significant share of its profits due to the closure of amusement parks (about $ 3.5 billion), but at the same time, it is worth noting the growth in popularity of the Disney + streaming platform. Therefore, it cannot be said that the company has sagged too financially.
The closure of the studio will leave 450 employees jobless in April this year. However, Disney said it is working to provide them with places in other divisions of the company.