The Little Mermaid key to Disney live action remake strategy
Disney's "The Little Mermaid" hooked nearly $96 million over its first three days in North American theaters. That opening is on par with the $91 million "Aladdin" secured in 2019 on its way to more than $1 billion at the global box office.
However, it doesn't guarantee the company's latest live-action remake will see the same success. The film will sink or swim on word of mouth.
Audience buzz has become an increasingly important factor in box office success in the wake of the pandemic. With so many entertainment options, even franchise films can have trouble luring in moviegoers. Those that skip out on seeing a film during its opening weekend can be enticed to cinemas by positive chatter, helping to bolster the film's overall box office.
Disney has seen firsthand what happens when audiences don't connect with titles. The studio, which is known for its animated content, saw two of its recent releases — "Lightyear" and "Strange World" — flounder at the box office. Neither film was too well-received by critics, and previous releases going straight to Disney+ confused consumers about where to see the films.
Meanwhile, Disney has carved out a solid theatrical business for live-action remakes of its litany of classic animated features, generating nearly $9 billion in global ticket sales from these films since 2010.
The company's success has inspired other studios to recreate popular animated features as live-action flicks. Universal Pictures and DreamWorks Animation is currently developing a live-action version of its widely successful animated trilogy "How to Train Your Dragon." The film is due in theaters March 14, 2025.
Although there were two live-action films based on "101 Dalmatians" in 1996 and 2000, Disney didn't start producing these remakes in earnest until 2010's "Alice in Wonderland." That film was the first of the batch to generate more than $1 billion at the global box office, sparking the production of nearly a dozen other titles including: "Maleficent," "Cinderella," "The Jungle Book" and "Dumbo."
And there are more on the way. Disney recently announced plans to bring "Moana" and "Lilo and Stitch" to the real world. With Disney already looking to tap into newer animated favorites, Shawn Robbins, chief analyst at BoxOffice.com thinks it's only a matter of time before the company looks to tap into recent hits like "Frozen" or even "Encanto."
Source: CNBC
