A well-known Box office analyst has estimated that the Walt Disney Co. has lost over $890 million on their last eight studio releases.
The films contributing to the losses include “Lightyear,” “Thor: Love and Thunder,” “Strange World,” “Black Panther: Wakanda Forever,” “Ant-Man and the Wasp: Quantumania,” “The Little Mermaid,” and “Elemental.”
The eight films cost roughly $2.75 billion to produce but only brought in $1.86 billion. Okay, but what about marketing costs? You have to take that into account as well — it must be way more than $890 million in losses.
Correct me if I’m wrong, but wouldn’t Disney also be losing more money since all of these titles are destined for their Disney Plus streaming service instead of other streamers, like Netflix or Amazon Prime Video?
The latest Disney flop is “Elemental,” said to have a budget of $200 million, but which had an opening weekend of $29 million, the lowest in Pixar’s 28 year history. It has so far grossed a tepid $65 million domestically.
It could get worse for Disney as “Indiana Jones and the Dial of Destiny” is being projected to nab subpar numbers when it gets released this coming Friday.
If you remember, Disney’s “Diversity Chief” suddenly left her position last week. Latondra Newton was in charge of diversifying content at the mouse house since 2017. Does her sudden departure have anything to do with Disney’s recent movie failures?