The Disney animated release “Strange World” collected a measly $18.6 million after opening Wednesday
The company’s latest release, “Strange World,” this weekend became the second consecutive Disney animated offering to bomb at the box office, collecting a measly $18.6 million since opening Wednesday.—an unusual record for a company long considered a guaranteed hitmaker in children’s entertainment.
when the company’s board of directors shocked Hollywood and fired his one-time successor, Bob Chapek. He returns to a theatrical environment far harsher to animated releases than the one he left.Catch up on the headlines, understand the news and make better decisions, free in your inbox every day.Among Disney employees, the distribution of the company’s animated movies was considered one of the crucial differences between Messrs. Iger and Chapek.
Disney certainly wasn’t alone in using theatrical releases to bolster nascent streaming services. With auditoriums closed and moviegoing depressed amid the pandemic, many major studios began skipping the theater in some instances in favor of in-house services, a flexible approach that has held even as multiplexes reopen.
The company’s first major release since Covid-19 shut most theaters, last Thanksgiving’s “Encanto,” collected a disappointing $96 million in the U.S. and Canada, but found new fans during its premiere on Disney+ soon after. “Lightyear,” an installment in the blockbuster “Toy Story” franchise, made its debut exclusively in theaters in June and significantly underperformed, with a domestic gross of $118 million.
“Our creative teams will concentrate on what they do best—making world-class, franchise-based content—while our newly centralized global distribution team will focus on delivering and monetizing that content in the most optimal way across all platforms,” Mr. Chapek said when he announced the reorganization in October 2020, eight months after being named CEO.
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