News: Despite Thanksgiving typically bustling with movie buffs, Hollywood faces an unexpected slowdown this year. The box office is feeling the pinch of low turnout during the holiday season, sparking worries among major studios such as Disney.
Disney’s Disappointing Start
Disney’s highly anticipated animated feature, “Wish,” stumbled out of the gate, scraping together a mere $8.3 million on its debut day. With a hefty $200 million budget, this underwhelming start deals a substantial blow. “Wish” weaves the tale of a wishing star pivotal to future Disney escapades. Amid high studio expectations for a holiday season surge in family viewership to compensate for the sluggish start, the film’s performance falls short of projections.
Disney has grappled with retaining its fan base across its Marvel and animation ventures in recent times. Despite this trend, optimism lingers for “Wish” to follow a trajectory akin to another Disney flick, “Elemental.” While “Elemental” initially stumbled with a lackluster opening, it managed to rally and find stronger footing over time, sparking hope for “Wish” to undergo a similar journey toward success.
Ridley Scott’s Epic “Napoleon”
Ridley Scott’s grand production “Napoleon,” backed by Apple Original Productions, stormed the box office despite its steep $200 million budget and an R rating, amassing $7.7 million on Wednesday alone. Projections hint at a potential $30 million haul across the five-day span, targeting a global sum around $65 million. Although these figures might appear commendable, they underscore the film industry’s ongoing battle to acclimate to the era dominated by streaming services.
Apple strategically leverages its substantial investments in film production, exemplified by the $200 million allocated to Martin Scorsese’s “Killers of the Flower Moon.” This strategy aligns with Apple’s goal of cultivating fervor and anticipation for its streaming platform, Apple TV+. Despite the film’s underwhelming performance, raking in less than $150 million globally, Apple views these expenditures not as financial setbacks but rather as shrewd marketing investments designed to bolster its streaming service.
The Battle of the “Hunger Games”
Lionsgate’s prequel, “The Hunger Games: The Ballad of Songbirds and Snakes,” is set to make waves in cinemas. Its hefty $100 million budget signals high expectations for success, potentially overtaking “Wish” as the week’s highest-grossing movie. Despite the hurdles faced by earlier “Hunger Games” films, projections suggest “The Ballad of Songbirds and Snakes” could rake in $100 million domestically, promising a strong showing at the box office.
Other Films Making Their Mark
This holiday season, several films are carving out their space in the spotlight. “Trolls Band Together” by Universal and DreamWorks Animation debuted impressively with $5.1 million on Wednesday and anticipates a $27 million haul across five days. Meanwhile, “Thanksgiving” by TriStar and Spyglass Media started with a modest $1.8 million and is forecasted to reach a total of $10.1 million. On the flip side, the latest Marvel installment, “The Marvels,” isn’t faring as strongly, only amassing $1.5 million in recent earnings, resulting in a disappointing domestic gross of $69.1 million.
Looking Ahead
The Thanksgiving box office this year is poised to exceed the last two post-pandemic years, forecasted to rake in around $190 million in total revenue. Yet, it falls below the pre-pandemic benchmarks like the $263.4 million in 2019 and the astounding $315.6 million in 2018. While showing improvement, it’s still shy of reclaiming the heights set before the pandemic hit.
In summary, Hollywood is grappling with a Thanksgiving slowdown, observing a decline in theater attendance this holiday season. Certain films, such as “Wish” and “Killers of the Flower Moon,” have underperformed, while others like “Napoleon” and “The Hunger Games: The Ballad of Songbirds and Snakes” offer hope. However, the industry faces the challenge of navigating the evolving streaming landscape and optimizing box office returns during this crucial holiday period, signifying an ongoing journey toward adaptation and success.
FAQs
Q: What’s causing the decline in Thanksgiving box office revenue?
During Thanksgiving, the box office is seeing a decline because moviegoers are showing less interest.
Q: Is Disney concerned about how “Wish” is performing?
Indeed, Disney is troubled by the underwhelming debut of “Wish” and its effect on box office numbers.
Q: How is Apple utilizing film production to promote Apple TV+?
Apple is making substantial investments in film production to create hype and enthusiasm for its streaming platform, Apple TV+.
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