Those hoping that Disney‘s Jay Rasulo would provide more detail today about the surprising movie licensing deal with Netflix that was announced yesterday will be disappointed. He told the UBS Global Media and Communications Conference that he would only talk about it in general terms. “This was the best and highest-value creator for the company and we’re thrilled to have done it,” he says. Disney wasn’t concerned about the state of the economy or the business cycle. The bigger consideration was that Netflix would be a good platform for Disney, which focuses on “franchise films with enduring value.” He notes that Pixar, Disney animation, Marvel live action, Star Wars and Disney live action might each produce one or two films a year. What’s more, “we really look at getting returns on the films” — which means finding multiple places including merchandising and theme parks where the films can generate revenue. “If it does not have life somewhere else, you’ll have a hard time.” With films such as Cars and Toy Story, “you can take these franchises to other places in our ecosystem.”

Related: Netflix Exec Calls Disney Deal A “Game Changer”: UBS Confab