The Marvels, the studio’s most recent film, generated just $206.1m (£165m) at the Box Office, less than its $274m production budget. It was the lowest-grossing film in the franchise’s history, bringing in less than a tenth of its most successful title, 2019’s Avenger’s: Endgame.

Mr Iger said Disney would release two or three Marvel films a year, compared to a previous average of four, and cut TV series from four a year to around two. He said that some upcoming TV shows were “a vestige of basically a desire in the past to increase volume” and that in future, “it will just be a balance, which we think is right”.

The comments came as Disney disappointed investors despite its streaming business recording a quarterly profit for the first time, a milestone moment for Mr Iger’s bet on on-demand video.

Profits from the company’s conventional US broadcasting business and its sports operation both fell. Meanwhile, Disney Plus attracted fewer new subscribers than had been expected, and the company said it expected growth to flatline when it next reports quarterly financial results.

“We’ve said all along our path to profitability will not be linear,” Mr Iger said.