US Markets
Wednesday, November 22nd, 2023 3:09 pm EDT
Key Points
- Disney’s Struggle Post-2019 Success:
- Disney is banking on its 100th-anniversary film, “Wish,” to rejuvenate its animation division and revive the Thanksgiving box office. While 2019 was a record-breaking year for Disney theatrically, with seven films surpassing $1 billion in global ticket sales, the studio has struggled to recapture that success post-COVID restrictions.
- Challenges in Animation Division:
- Disney’s animation arm, historically dominant, has faced challenges due to executive decisions to prioritize Disney+ content, stretching creative teams thin. The studio’s animated features, from both Walt Disney Animation and Pixar, have suffered in the last three years. Confusion about release schedules and films going straight to digital during the pandemic has impacted audience turnout and critical reception.
- Thanksgiving Box Office Challenges and “Wish” Expectations:
- The Thanksgiving box office, traditionally strong for Disney, has seen diminished revenue-generating power post-pandemic. Box office analysts note that the odds are against any film becoming a massive breakout hit over the Thanksgiving period. “Wish” is expected to secure around $55 million for the Wednesday-to-Sunday period, making it the seventh-biggest Thanksgiving opening if achieved. Despite early ticket sales, box office expectations have been unpredictable in 2022.
- The Thanksgiving box office is crowded with competing films like “Trolls Band Together,” “Hunger Games: The Ballad of Songbirds and Snakes,” “Thanksgiving,” and “Napoleon.” Analysts foresee a haul between $150 million and $160 million for the five-day period, with “Wish” hoping to avoid competition pitfalls.
- Disney faces competition from Universal and Sony, whose animated films like “Minions: The Rise of Gru” and “Spider-Man: Across the Spider-Verse” have excelled. Disney has struggled to secure over $500 million worldwide from an animated feature since 2019.
- “Wish” carries significant weight for Disney as the studio aims to rebound from previous box office disappointments like “Strange World.” The film’s success is crucial to reclaiming its core audience, especially with other studios and animated franchises performing well recently.
- Critics have not been impressed with “Wish,” with a Rotten Tomatoes rating under 60%. However, past Disney films with similar ratings have become fan favorites, and the potential for success on Disney+ exists, as seen with “Encanto,” which performed modestly at the box office but gained popularity on the streaming platform.
Disney is pinning hopes on its celebratory 100th-anniversary film, “Wish,” to revive its animation division and reignite the Thanksgiving box office. Despite a record-breaking theatrical year in 2019, Disney has struggled to recapture that success, particularly in its animation arm. Executive decisions to prioritize Disney+ content and release theatrical movies directly to digital during the pandemic have impacted the division’s performance.
The Thanksgiving box office, traditionally dominated by Disney, has also faced challenges. Post-pandemic, the holiday corridor’s revenue-generating power has diminished, with Thanksgiving films relying more on December attendance. Disney declined to comment on its recent struggles.
The article highlights the historical significance of Thanksgiving at the box office, often fueled by Disney animation hits. However, in 2021 and 2022, the five-day Thanksgiving period failed to surpass $150 million in domestic ticket sales. “Wish” aims to secure up to $55 million for the Wednesday-to-Sunday period, hoping to mark the seventh-biggest Thanksgiving opening if successful.
Box office analysts foresee a competitive Thanksgiving with “Wish” facing challenges from other animated family films like “Trolls Band Together.” Despite uncertainties and inaccurate box office expectations in 2022, a crowded Thanksgiving lineup could contribute to a $150 million to $160 million haul for the five-day period.
The success of “Wish” is crucial for Disney to rebound from previous box office disappointments like “Strange World.” Disney faces stiff competition from rival studios like Universal, whose animated films have excelled recently. Notably, Disney has struggled to surpass $500 million worldwide from an animated feature since 2019, while competitors like Universal and Sony have achieved significant global box office success with their animated offerings.
The article mentions concerns about “Wish” not inspiring critics, with a Rotten Tomatoes rating below 60% on the eve of its opening. However, past Disney films with similar ratings have become fan favorites. Even if “Wish” doesn’t perform strongly at the box office initially, there is potential for success on Disney+.
The example of “Encanto,” released for Thanksgiving in 2021, is cited. Despite a modest $40.6 million in the five-day Thanksgiving weekend, “Encanto” went on to gross $257.5 million globally. Its success on Disney+ further extended its popularity, indicating that even if “Wish” faces challenges at the box office, it could find a lasting audience through streaming.
In conclusion, Disney’s “Wish” is a critical release for the studio, aiming to overcome recent box office challenges during the Thanksgiving period and revitalize its animation division. The article explores the competitive landscape, uncertainties, and the potential for success on Disney+.
For the full original article on CNBC, please click here: https://www.cnbc.com/2023/11/21/disney-thanksgiving-wish-box-office.html
