OAN’s Abril Elfi
4:01 PM – Tuesday, November 28, 2023
Disney’s last 13 movies have reportedly cost the company millions of dollars.
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Disney’s latest film “Wish,” which premiered during thanksgiving weekend, flopped at the box office and brought in only $31.6 million over the five-day period, far below box office analysts’ expectations of between $45 million and $55 million. The budget for the film was $250 million, its break even was $500 million, the global gross was $150 million, and the deficit was -$175 million.
Disney has never historically underperformed at the box office on Thanksgiving.
The company has been releasing top-grossing animated movies from Wednesday to Sunday for over ten years. The media company has even broken records for the highest-grossing openings for Thanksgiving movie releases.
However, since the pandemic, the company has struggled to bring in as many customers as in the past.
The company lost $106 million on their 2022 movie “Lightyear” and another $152 million on “Strangeworld,” which both included LGBTQ+ themed characters and plotlines.
Paul Dergarabedian, senior media analyst at Comscore, said that there are hard lessons being learned in the film industry.
“A set it and forget it strategy based on past performance can no longer be employed by any studio,” said Dergarabedian. “There are some hard lessons being learned as this confounding movie marketplace continues to re-write the rules and audiences make their preferences known with either their presence or the absence at the multiplex.”
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By: OAN
