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Walt
Disney’s
latest movie The Marvels failed to deliver at the box office in its opening weekend, bringing in $47 million domestically.
The total was sharply lower than expectations and underscores the struggle the Hollywood studio has had with the brand after 33 Marvel Cinematic Universe films. Opening weekend sales for Marvels were the worst performance of all of them.
The actors’ strike, tentatively resolved last week, prevented stars Brie Larson and others from promoting the opening. Still, earlier estimates had opening sales at around $75 million to $80 million.
Two other films in the series opened below $60 million: The Incredible Hulk in 2008 and Ant-Man in 2015.
International sales for The Marvels were $63.3 million, bringing overall sales to about $110 million, which is also below expectations. The film cost more than $200 million to make and $100 million more to promote, Variety reported.
Comscore’s
senior media analyst Paul Dergarabedian told Barron’s that superhero, and action films in general, were a once failure-proof genre, but moviegoers’ tastes have evolved. With plenty of options on streaming and elsewhere, studios have to deliver “more than just a cookie-cutter experience,” he said.
Disney
(ticker: DIS) has delayed the release of four other Marvel Cinematic Universe films, including Deadpool 3 to mid-2024 and Captain America: A Brave New World to 2025. Disney CEO Bob Iger, eager to cut costs, has already said the studio will spend less on Marvel productions.
More action films are slated for release during the coming holiday season, including
Lions Gate Films
’ (LGF) The Hunger Games: The Ballad of Songbirds & Snakes and
Sony’s
(SONY) Napoleon. Disney has an animated adventure feature Wish set to open Thanksgiving weekend.
Write to Liz Moyer at [email protected]
Read the full article here
