Disney's latest animated movie, Strange World, is currently projected to net the studio massive losses after flopping during its Thanksgiving opening weekend and only amassing $18.6 million in earnings over five days.
Strange World, the company’s first animated feature film with an openly gay protagonist, didn’t get as much promotion as many other Disney movies. The first trailer was released a couple of months ago without much fanfare. However, its low commercial figures combined with a budget of anywhere between $135-180M make it a near certainty that Disney will have to eat up a substantial loss this quarter.
As reported by Variety, Strange World ticket sales are not only bad; they are some of the worst the company has seen in recent history. Strange World is even falling far behind post-pandemic releases such as Encanto ($27.2) or the much-criticized Lightyear ($51M) when only adding up the revenue generated in the United States. It’s also not as if Strange World is doing much better in other parts of the globe, barely recouping $9.2M overseas, with the film not even expected to come out in several countries due to its depiction of LGBTQ characters.
Naturally, it doesn’t help that Strange World received mixed reviews. Furthermore, unlike some Pixar classics like Inside Out, which appeal to adults and kids, Strange World seems to lack a clearly defined audience. Strange World follows the Clades, a family of explorers traveling the fictional land of Avalonia to preserve a resource called Pando, with a voice cast that includes Jake Gyllenhaal, Dennis Quaid, Jaboukie Young-White, Gabrielle Union, and Lucy Liu.
By most Hollywood standards, a movie’s ballpark estimate to become profitable is usually twice its production budget to account for marketing expenses or outstanding loans related to it. Nevertheless, for a film with such a high budget, the early buzz surrounding Strange World came nowhere near that of Raya and the Last Dragon, Encanto, Lightyear, or even Disney Plus exclusives like Soul and Turning Red. The handling of Pixar movies has been named as one of the main contention points behind the exit of Disney's former CEO Bob Chapek, who will be replaced by the very man who preceded him, Bob Iger.
The blow comes as a shock given this time of the year is usually a strong release window for Disney's animated features. It will also mark the last premiere hampered by Chapek's decisions now that Disney shareholders brought Iger to turn the tides.
Strange World is currently available in theaters.
Source: Variety
