George Lucas’ Decision of Selling Lucasfilm to Disney Explained

Renowned filmmaker George Lucas recently revealed the reasoning behind his departure from the ‘Star Wars’ universe and the sale of Lucasfilm to Disney back in 2012.

In a recent interview with the French outlet Brut at the 2024 Cannes Film Festival, the visionary behind the franchise’s inception with ‘A New Hope’ in 1977 shared his perspective on stepping away. Lucas, whose creation sparked a multimedia phenomenon, spoke frankly about his retirement, citing the shifting landscape of theatrical distribution amidst the rise of streaming platforms like Netflix.

He noted the industry’s impending “giant transition” and felt it was the opportune moment to bow out.

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Discussing the impact of streaming, Lucas remarked, “Streaming is really powerful, and it’s great, it’s really upped the movie business.” He acknowledged the challenges facing traditional theatrical distribution and highlighted the unforeseen rise of streaming services like Netflix as a game-changer. This realization prompted him to sell the company and retire.

The sale marked the conclusion of Lucas’s direct involvement with the Star Wars franchise, a decision influenced by the rapidly evolving movie industry and the imminent disruption brought about by streaming services.

Since Lucas’s departure, the Star Wars franchise has thrived, particularly in the realm of streaming, with series such as ’Andor,’ ‘Rebels,’ ‘The Clone Wars,’ and ‘The Mandalorian’ captivating audiences and setting new records.

On the big screen, ‘Star Wars: The Force Awakens’ achieved monumental success, becoming the fourth highest-grossing movie of all time with over $2 billion in worldwide box office earnings. Despite some divisive fan reactions, ‘The Last Jedi’ was a critical and commercial success, outperforming its sequel, ‘The Rise of Skywalker,’ by a significant margin.

Additionally, ‘Rogue One: A Star Wars Story’ garnered praise for its storytelling, visuals, and box office performance, grossing over $1 billion globally. The enduring success of the Star Wars franchise across various platforms underscores its lasting appeal in the post-George Lucas era.

– Farheen Ali