"The business model that underpins the movie business is changing," Bob Iger told the Financial Times in an interview published on Monday. "If we don't adapt to the change there won't be a business -- that's my exhortation to my team."

The newspaper said Iger advocated a fundamental rethink of the costs associated with movie production and marketing.

Disney's movies studios, which account for about 15 percent of the media conglomerate's revenue, suffered a 12 percent fall in sales in the quarter to June 27 and swung to an operating loss of $12 million.