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On Wednesday, Disney CEO Bob Iger revealed that the untitled Disney Animation film slated for Thanksgiving is a sequel to the beloved 2016 film "Moana." Disney's animation studios — Walt Disney Animation and Pixar — have struggled at the box office in the wake of the Covid-19 pandemic. The decision trained parents to seek out new Disney titles on streaming, not theaters, even when Disney opted to return its films to the big screen. As a result, no Disney animated feature from Pixar or Walt Disney Animation has generated more than $480 million at the global box office since 2019. A sequel to "Moana" will arrive about six months after the theatrical release of "Inside Out 2," a sequel to the hit 2015 animated film about what really goes on inside a person's head.
Persons: Bob Iger, Iger, Pixar — Organizations: Disney, Walt Disney Animation, Pixar, CNBC PRO Locations: Polynesia
Taylor Swift's filmed Eras Tour has found a home on Disney+. The concert film will arrive on the platform on March 15, Disney CEO Bob Iger announced during the company's earnings call Wednesday. Disney likely faced a bidding war for the pop star's latest filmed concert, following the blowout popularity of her tour. In total, Swift's film generated more than $180 million at the domestic box office and more than $261.6 million worldwide. The concert film shifted to on-demand availability on Dec. 13, the singer's 34th birthday, with a rental fee of $19.89, the year she was born.
Persons: Taylor Swift, , Taylor Swift's, Bob Iger, Swift, Michael Jackson's Organizations: Soldier, Disney, Apple Music, Netflix, AMC, Swift, CNBC PRO Locations: Chicago, Cardigan
LOS ANGELES — The Walt Disney Company will report fiscal first-quarter results after the bell Wednesday as its board battles again with activist investor Nelson Peltz and Blackwells Capital. The media behemoth will also post earnings a day after it announced its sports network ESPN would partner with Fox and Warner Bros. Disney stock has climbed nearly 9% this year. Entertainment contains all of Disney's streaming and media operations, sports includes ESPN and experiences includes the company's theme parks, hotels, cruise line and merchandising efforts. Tune in: CNBC's Julia Boorstin is set to interview Disney CEO Bob Iger at 4:05 p.m.
Persons: Nelson Peltz, Peltz, Jay Rasulo, Bob Iger, Julia Boorstin Organizations: ANGELES, Walt Disney Company, Blackwells, ESPN, Fox, Warner Bros, Netflix, Disney, Star, Entertainment
Disney is investing $1.5 billion for a stake in Epic Games, CEO Bob Iger said Wednesday, in its biggest bet yet on the gaming space. "Our exciting new relationship with Epic Games will bring together Disney's beloved brands and franchises with the hugely popular Fortnite in a transformational new games and entertainment universe," said Iger in a statement. Disney did not say what the valuation of Epic, a private company, would be after the Disney funding. "Now we're collaborating on something entirely new to build a persistent, open and interoperable ecosystem that will bring together the Disney and Fortnite communities." Aside from Fortnite, Epic Games is well-known for challenging Apple and Google in court to force them to lower their app store fees.
Persons: Bob Iger, Disney, Iger, Fortnite, Tim Sweeney, Sweeney, Kif Leswing Organizations: Disney, Epic Games, Pixar, Marvel, Star Wars, Star, Lego, Harmonix, Apple, Google, CNBC PRO Locations: Fortnite
While 2024 and 2025 boast franchise-rich movie slates, Wall Street doesn't expect ticket sales to top $10 billion domestically until 2026. The domestic box office has not hit that benchmark since 2019 before the Covid pandemic. When the box office does again surpass that threshold, Disney could be the driving force. After all, the first Avatar generated nearly $800 million at the domestic box office after its release in 2009. Therefore, where industry experts see gaps between major tent poles, there could be smaller-budgeted films that add incremental value to the overall box office.
Persons: it'll, Eric Handler, Roth, snared, Handler, Shawn Robbins, Robbins, Bob Iger, It's, Jonathan Majors, Taylor, it's Organizations: ANGELES, Star Wars, Disney, Marvel, Pixar, Disney Animation, Universal, Paramount, Warner Bros, Hollywood, Angel, AMC, Comcast, CNBC Locations: U.S, Canada, NBCUniversal
Since it came out on Jan. 12, the $36 million film has tallied $83 million globally, according to data from Comscore. Low-budget films are typically those that cost under $20 million — films from the horror genre often fall in this category, as well as some independent features. The annual box office those years reached $11.9 billion and $11.4 billion, respectively. Domestic wide releases by year 2017 — 107 wide releases2018 — 112 wide releases2019 — 112 wide releases2020 — 32 wide releases2021 — 67 wide releases2022 — 71 wide releases2023 — 95 wide releases * Wide releases are any films that debut in more than 2,000 locations. Source: ComscoreIn 2023, 95 films had wide releases, 15% fewer titles than pre-pandemic times, and the box office barely surpassed $9 billion.
Persons: Bebe Wood, Renee Rapp, Avantika, Eric Handler, Roth, Paul Dergarabedian, Demeter, Organizations: Plastics, Paramount Paramount, Paramount, Wall Street, Street, Netflix, Disney, Universal, Warner Bros Locations: Comscore
Now, shows aren't just on traditional TV and there are far more places for parents and kids to find content. At a time when streaming services are eager to lure in new subscribers and decrease churn, having a hub for family-friendly content is one way to ensure paying members (i.e. "Kids and family-friendly content is critically important to both streaming acquisition and retention," said Peter Csathy, founder and chair of advisory firm Creative Media. That's vitally important for streaming services, especially as consumers grow more cost-conscious and weigh which services to keep month after month and which services to ditch before the next billing cycle. For a while, Wall Street was satisfied with high subscriber growth and the promise of profitability in the future.
Persons: hasn't, Dean Koocher, Koocher, aren't, Peter Csathy Organizations: Iconic, Disney, Nickelodeon, CNBC, Creative Media, Warner Bros, Discovery, Universal, Paramount, Netflix Locations: New York City
Jon Stewart is returning to "The Daily Show" — but only on Mondays. The comedian helmed the Comedy Central talk show between 1999 and 2015, before passing the torch to South African comedian Trevor Noah. Stewart will serve as "The Daily Show" host on Mondays starting Feb. 12, and appear at least through the 2024 election cycle. Since his 2015 exit from "The Daily Show," Stewart has kept busy as the executive producer of CBS' "The Late Show with Stephen Colbert" and weekly spots on Apple's streaming service via his show "The Problem With Jon Stewart," which was recently canceled. Stewart is also an avid philanthropist and has lobbied for healthcare benefits for veterans and 9/11 first responders.
Persons: Jon Stewart, Trevor Noah, Noah, Stewart, Stewart's, Chris McCarthy, Jon, Stephen Colbert Organizations: Central, Paramount, Comedy, YouTube, Showtime, MTV Entertainment Studios, CBS Locations: African
It's no surprise that Warner Bros.' "Barbie" and Universal's "Oppenheimer" were among the 10 best-picture nominees announced Tuesday for this year's Academy Awards ceremony. The duo exploded into cinemas in July, generating big box-office bucks and enchanting critics and audiences alike. Helmed by academy darlings Greta Gerwig and Christopher Nolan, respectively, the dichotomous films have been on Oscar prediction lists for months. Although Gerwig missed out on a best director nomination, both filmmakers received nods for their screenplays. Best Picture nominees for the 2024 Academy Awards "American Fiction" (MGM/Amazon)"Anatomy of a Fall" (Neon)"Barbie" (Warner Bros.
Persons: Barbie, Oppenheimer, Hannah Beier, It's, Greta Gerwig, Christopher Nolan, Gerwig, Maestro, Read Organizations: Washington Post, Warner Bros, year's, Paramount, Searchlight, Academy of Motion Picture Arts and Sciences, Disney Locations: Somerdale , New Jersey
Netflix now has 260.8 million paid subscribers, a new record for the service, it said when it reported quarterly results after the bell Tuesday. The subscriber growth easily tops the 8.76 million paid membership adds Netflix reported in the third quarter. The company also blew past Wall Street's fourth-quarter expectations of 8 million to 9 million. The company posted revenue of $8.83 billion for the quarter, up from $7.85 billion in the year-ago quarter. That's up from 15 million that the company reported in November.
Persons: Wall, We're, foresees, Amy Reinhard, it's, Greg Peters, Peters Organizations: ANGELES, Netflix, Wall, LSEG, U.S ., WWE Raw, Investors, Variety Entertainment, CES
Bebe Wood, Renee Rapp and Avantika Vandanapu star as The Plastics in the 2024 adaptation of "Mean Girls." Paramount's "Mean Girls," a musical film adaptation of the Broadway show and beloved 2004 film of the same name, opened to an estimated $28 million at the domestic box office, on its way to a $32 million take for the holiday weekend. "The success of Mean Girls this weekend is a case study in nostalgia successfully paired with a fresh and modern hook for today's female audience," said Shawn Robbins, chief analyst at BoxOffice.com. In fact, the biggest percentage of ticket sales were for those aged 26 to 35, who accounted for 34% of all opening weekend ticket sales. Mean Girls is truly an [intellectual property] that's evolved into a multi-threat pop culture standout."
Persons: Bebe Wood, Renee Rapp, Avantika, Glen Coco, Lindsay Lohan, Paul Dergarabedian, Tina Fey's, Shawn Robbins, Steve Buck, Gen, BoxOffice.com's Robbins Organizations: Plastics, Paramount, Warner Bros Locations: Hollywood
Erno Rubik, inventor of the Rubik's Cube, holds one of the cubes at the International Toy Fair in Nuremberg, Germany, Jan. 29, 2020. It took a month of twisting and turning for the first person to solve a Rubik's Cube. That person was Erno Rubik, now 79, the iconic puzzle toy's creator. A source of pride, envy and frustration, the Rubik's Cube turns 50 this year and, under the ownership of Spin Master, it shows no signs of retirement. "Rubik's isn't just a toy," said Sam Susz, senior director of global marketing at Spin Master.
Persons: Erno Rubik, he'd, Rubik, Sam Susz Organizations: Fair, CNBC, Spin Locations: Nuremberg, Germany, Hungarian
But Wall Street is worried that hero may never come for Hollywood. Yet, Wall Street still isn't satisfied. Warner Bros. Wall Street wants a solution, or, at the very least, a company to set the stage for a potential solution. watch nowConsider M&A difficultiesMergers and acquisitions present another path to a bigger bundle, but Wall Street isn't sure there will be a big deal in 2024.
Persons: Doug Creutz, Creutz, Michael Nathanson, MoffettNathanson, Rafael Henrique, Lightrocket, Nathanson, Shari Redstone, David Zaslav, Bob Bakish, Barbie Organizations: Getty, Hollywood, Disney, Warner Bros, Discovery, Comcast, Paramount Global, Netflix, Companies, Warner Bros . Discovery, Paramount, Cowen, Century Fox, Amusements, Comcast's, Universal
Mean girls, Spider-Women and sandworms will headline the 2024 box office — and they'll have to do some heavy lifting. Yet, it's unclear if a return to these stories will lure audiences in the new year. Even before Hollywood was disrupted by writers' and an actors' strikes, halting production and delaying some releases, 2024 was expected to be a tumultuous year. After the Covid-19 pandemic, the domestic box office has struggled to fully regain audiences even with tempting titles from major franchises. "Sometimes an industry has to take two steps backwards before going forward again," said Jeff Bock, senior box office analyst at Exhibitor Relations.
Persons: Denis Villeneuve's, It's, Jeff Bock Organizations: Warner Bros, Disney, Universal, Paramount, Bad, Hollywood, Relations Locations: what's
Sunset Boulevard | Corbis Historical | Getty ImagesThe Force remains strong with the Star Wars franchise. Despite not releasing a theatrical film since 2019, Star Wars has been named the top film franchise of 2023 by Fandom, the world's largest platform for entertainment fans. In between each film in the sequel trilogy, Disney released a film that harkened back to an important plot point from past Star Wars films. "At the time, Disney's strategy was to essentially release one new Star Wars film theatrically each year," said Peter Csathy, founder and chair of advisory firm Creative Media. Rebuilding an empireDisney isn't set to release another Star Wars film in cinemas until 2026.
Persons: Mark Hamill, Carrie Fisher, Harrison Ford, Georges Lucas, Paul Dergarabedian, Star Wars Disney Harry Potter, James Bond, Disney, Harry Potter, Kylo Ren, Emperor Palpatine, Darth Vader, , Princess Leia, Han, Peter Csathy, Csathy, Boba Fett, Rosario Dawson, Tano, Ahsoka, Count Dooku, Stephanie Fried, Diego Luna, Cassian Andor, Alan Tudyk Organizations: Star Wars, Star, Disney, Comscore, Star Wars Disney, Marvel, Warner Bros, DC Studios, Lucasfilm, Wars, Creative Media, Lucasfilm Disney Locations: Florida
Hannah Beier | The Washington Post | Getty ImagesCall 2023 an explosive comeback at the box office. Together, those three films contributed more than $1.5 billion to the domestic box office, according to data from Comscore. But in the meantime, here's a look at some of the most important theatrical releases of 2023 — and why they worked. Meanwhile, Disney has seen its animated content lag at the box office in the wake of the pandemic. "His Only Son," a biblical drama released in early 2023, cost $250,000 to make and generated $12.4 million at the box office.
Persons: Barbie, Oppenheimer, Hannah Beier, Mario, Comscore, Greta Gerwig, Christopher Nolan's, J, Robert Oppenheimer, Chris Pratt, Charlie, Luigi, Disney, Kung, Taylor Swift, Michael Jackson's, Buda Mendes, tas23, Swift, Beyoncé, Tim Ballard, Jim Caviezel, Covid, Blumhouse, Cabrini, Saint Francesca Cabrini, Bonhoeffer, Dietrich Bonhoeffer Organizations: Washington Post, Getty, Warner Bros, Mario Bros, Universal, Disney, Pixar, Walt Disney Animation, Swift, AMC, National Football League, Angel Studios, Century Fox, Roman Catholic, Reich Locations: Somerdale , New Jersey, There's, New York, Universal, Hollywood, Colombia
With $18.15 million in box office receipts, the studio's newest film "The Color Purple" had the highest Christmas Day opening since 2009 and the second-largest Christmas Day opening of all time. It was a very Merry Christmas for Warner Bros. Adding ticket sales from "Aquaman and the Lost Kingdom" and "Wonka," Warner Bros. Discovery held the top three spots at the box office over the holiday. Warner Bros.' collection of December releases runs the spectrum of genres and demographics, offering a diverse slate of entertainment for almost every moviegoing audience.
Persons: Sherlock Holmes, Wonka, Paul Dergarabedian, Oprah, Steven Spielberg Organizations: Warner Bros ., Warner Bros, Discovery
The weekend performance of "Aquaman and the Lost Kingdom" is on par with Warner Bros.' DC franchise in recent years. "Aquaman and the Lost Kingdom" dog-paddled to a $28.1 million domestic opening, the fourth-lowest in the history of the DC Extended Universe. "Aquaman and the Lost Kingdom" added $80.1 million from international ticket sales Friday through Sunday, bringing its total expected global take to $120 million (including the domestic Christmas expectations for Monday). The first "Aquaman" also benefited from international ticket sales back in 2018. Fury of the Gods," "Blue Beetle," "The Flash" and "Aquaman and the Lost Kingdom" — all released after the announcement — would have no connection to future DC projects and were not must-see theatrical experiences.
Persons: Adam, Jason Momoa's, James Gunn, Peter Safran, Paul Dergarabedian Organizations: Warner Bros, DC, Warner Bros . Discovery, DC Studios Locations: Canada
Jonathan Majors is out at Marvel after his misdemeanor assault and harassment conviction Monday, a person familiar with the matter told CNBC. The Marvel franchise is in a state of flux right now, with audience goodwill dwindling with each new entrant. Following the incident, but prior to his conviction, Majors was dropped from several marketing campaigns as well as by his talent agency. Disney previously pulled his film "Magazine Dreams," once considered an Oscar contender, was also pulled from the calendar. With Majors' conviction, Disney now has to make a choice: recast the role of Kang or completely alter its plans for the MCU.
Persons: Jonathan Majors, Meagan, Priya Chaudhry, Majors didn't, Bob Iger, Loki, Majors, he's, Kang, Josh Brolin's Thanos, Major's Kang Organizations: Marvel, CNBC, Majors, Disney Locations: New York City, New York
Angel Studios is set to release "The Shift" this Friday. A relative newcomer to Hollywood, Angel Studios uses a Kickstarter-style method of generating funds. "Innovation and outside the box thinking has put Angel Studios on the map. "Sound of Freedom" isn't the only Angel Studios title to exponentially overperform its budget. A crowdfunding campaign in partnership with Angel Studios raised more than $1.2 million for prints and advertising costs.
Persons: Brock Heasley, Neal McDonough, America, Angel, Jim Caviezel, Covid, Paul Dergarabedian, Blumhouse Organizations: Angel, Hollywood, Angel Studios, Warner Bros
of The Walt Disney Company Bob Iger speak during the New York Times annual DealBook summit on November 29, 2023 in New York City. One year after returning to the helm of Disney , Bob Iger said Wednesday his top priority at the company is revitalizing its film studio after a string of box office disappointments including "The Marvels" and "Wish." "The experience of accessing [the films] and watching them in the home is better than it ever was," he told Andrew Ross Sorkin at The New York Times' DealBook Summit. In increasing its output to feed Disney+, Iger said the company "diluted" its quality, particularly when it came to its Marvel Cinematic Universe features. Iger returned as CEO a year ago as the board fired Chapek.
Persons: Andrew Ross Sorkin, Walt Disney Company Bob Iger, Bob Iger, Iger, Covid, Bob Chapek Organizations: Walt Disney Company, New York Times, Disney, The New York Times, Marvel Locations: New York City
Its latest animated feature "Wish," billed as a celebration of 100 years of storytelling, fumbled at the box office during the Thanksgiving holiday weekend. It tallied just $31.6 million over the five-day period, far below box office analysts' expectations of between $45 million and $55 million. It's historically rare for Disney to lag at the Thanksgiving box office. The company has for more than a decade released top-grossing animated films during the Wednesday-to-Sunday frame and even set records for highest-grossing openings for films released on Thanksgiving. The underperformance of "Wish" extends an unfortunate pattern for the company, which operates two animation studios — Walt Disney Animation and Pixar.
Persons: Napoleon, Ridley Scott, it's, Paul Dergarabedian Organizations: Apple, Disney, Walt Disney Animation, Pixar
LionsgateThis year's Thanksgiving box office was both feast and famine for the theatrical industry. Meanwhile, Disney's latest animated feature "Wish," which celebrates the company's 100th anniversary, fell startlingly short of box office expectations, tallying just $31.7 million over its first five days in theaters. "It wouldn't be a holiday box office season without some occasional upsets and this weekend is delivering on that front," said Shawn Robbins, chief analyst at BoxOffice.com. Overall, the Thanksgiving box office secured around $172 million, an improvement over the previous three years of pandemic-pressured ticket sales. Prior to the coronavirus outbreak, the five-day Thanksgiving spread — consisting of the Wednesday before Thanksgiving through Sunday — had resulted in more than $250 million in ticket sales each year.
Persons: Tom Blyth, Rachel Zegler, Coriolanus Snow, Lucy Gray Baird, Napoleon, Disney's, Shawn Robbins, Robbins, Organizations: SONY, Lionsgate, Sony, Apple, MGM, Warner Bros Locations: Lionsgate's
LOS ANGELES – Apple Original Films is a new player on the Academy Award scene, but it's already left an indelible — and historic — mark. With acclaimed director Ridley Scott's "Napoleon" opening just ahead of the Thanksgiving holiday, Apple is making another push for Academy Award glory. Heading into November, the Academy Awards race appeared to be dominated by Warner Bros. ' "Barbie" and Universal's "Oppenheimer." Warner Bros. and Legendary Studio's "Dune: Part Two" won't be part of this year's Oscar race after departing to March of next year. Now, in the last few weeks of the year, Academy Award hopefuls are arriving en masse.
Persons: it's, Ridley Scott's, Napoleon, Joaquin Phoenix, Napoleon Bonaparte, Oppenheimer, Martin Scorsese's, Leonardo DiCaprio, Robert De Niro Organizations: Apple, Academy, Award, Sony, Phoenix, Warner Bros Locations: masse
However, in the wake of the Covid pandemic, the box office has struggled to regain its foothold on the Thanksgiving holiday. "Thanksgiving films in this movie marketplace must rely more heavily on December moviegoing to determine their ultimate box office fate." Box office analysts often disregard 2020's $21.4 million Thanksgiving haul, as few theaters were open and there were few films to watch. Not to mention, box office expectations have not been particularly accurate this year. Trouble in the Magic Kingdom"Wish" has a lot riding on its opening weekend, as Disney looks to rebound from a slew of box office letdowns.
Persons: Ariana DeBose, Asha, Paul Dergarabedian, moviegoing, Ralph, Coco, TriStar's Eli Roth, Napoleon, Taylor, Shawn Robbins, Mario Organizations: Disney, BoxOffice.com, Mario Bros, Sony
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