As a seasoned movie critic with over three decades of experience under my belt, I’ve seen the rise and fall of countless cinematic trends. Yet, there’s something truly extraordinary happening at Universal Studios these days that has left me both amazed and amused. The studio seems to have unlocked the secret to turning a profit without relying on opening weekend box office numbers – a concept I never thought I’d see in my lifetime!
In December 2022, Universal’s film “Puss in Boots: The Last Wish” had a slow start, earning only $12.4 million during its opening weekend. However, an extraordinary event unfolded. Through the influence of TikTok and positive word-of-mouth, the cat adventure movie experienced a remarkable resurgence at the box office. Weekly ticket sales remained almost unchanged, and eventually, “The Last Wish” concluded its run with a domestic gross of $186 million – 15 times its initial weekend earnings – and a global total of $481 million.
In December 2023, Universal faced a surprising outcome with Illumination’s “Migration,” which kicked off with a lackluster $12.4 million during the holidays. However, this family-centric mallard story took flight, eventually grossing $127 million in North America – over ten times its initial weekend – and nearly reaching $300 million globally. This is remarkable since most films typically earn three to four times their opening weekend earnings. “Puss in Boots 2” and “Migration” currently boast the top two highest animated multiples from the last twenty years within the industry.
Once again, the studio’s production titled “The Wild Robot” from DreamWorks Animation is seeing success. This heartwarming sci-fi tale revolves around a stranded android. In September’s end, the movie sparked to earn $35 million – a good figure for a new film franchise, but not an extraordinary one. Since then, it has surged to amass $111 million within the U.S. and a global total of $232 million after four weeks.
Jim Orr, Universal’s head of domestic distribution, asserts that the key factor is the content itself. He emphasizes that these are high-quality movies throughout,” suggests a paraphrase in a natural and easy-to-read manner.
Recently, Universal has been releasing larger, successful animated blockbusters such as “The Super Mario Bros. Movie” in 2023 ($1.4 billion) and “Despicable Me 4” this year ($963 million). Similarly, Disney has also had hits like the upcoming “Inside Out 2” in 2024, which is projected to gross $1.7 billion.
Contrary to common belief that modern films primarily make their earnings during the opening weekend, “The Wild Robot,” “Migration,” and “Puss in Boots 2” have bucked this trend. They’ve managed to make a profit in an old-school manner – through critical acclaim and positive word-of-mouth from audiences. In some instances, they’ve also thrived due to a lack of competition, leading to increased demand for family-friendly movies.
After the pandemic, there’s been a noticeable lack of family-oriented content, particularly animated movies, in the marketplace, according to Exhibitor Relations analyst Jeff Bock. This creates an opening for these films to have extended runs at the box office. Additionally, it’s beneficial that the word-of-mouth about all these titles has been quite favorable.
By securing successful partnerships with Illumination and DreamWorks Animation, Universal has emerged as Disney’s main competitor in the animation industry. Disney’s Pixar and Disney Animation studios are highly regarded for their family-friendly entertainment, but Universal is making a strong challenge. Sony has found success with the “Spider-Verse” series, although not much else, while Paramount’s “Transformers One” didn’t perform well. Warner Bros., on the other hand, hasn’t released any new animated productions since 2018’s “Teen Titans Go! To the Movies.
According to Bock, a significant factor behind Universal’s achievement is the absence of strong competition offering comparable products. However, what truly sets Universal apart is the exceptional quality of their offerings. For many years, they have consistently produced top-notch animated content. This consistency has built them a loyal fanbase that was once only associated with Pixar, Disney’s animation division.
Despite a revival in children’s movies at the box office, family films initially faced challenges as audiences were hesitant to go back to cinemas after the pandemic. Universal found little success with “Ruby Gillman, Teenage Kraken” (earning $45 million globally), while Disney experienced significant financial losses with movies like “Onward” ($141 million) and “Lightyear” ($226 million). Both films had budgets of $200 million and struggled to make a profit.
To cut down on expenses, Illumination and DreamWorks Animation have discovered methods to reduce production costs. Their original productions such as “Ruby Gillman,” “Migration,” and “The Wild Robot” were budgeted around $70 million each, whereas popular franchises like “Shrek” or “Despicable Me” typically don’t exceed a budget of $100 million.
Universal’s international distribution president Veronika Kwan Vandenberg explains that families prefer films offering a “fresh twist on something familiar” – a reliable brand with novel elements. She points out that established franchises like the “Despicable Me” series continue to draw large crowds and are reaching record-breaking heights. Original movies, she notes, require time to generate buzz through word of mouth.
According to DreamWorks Animation president Margie Cohn, it’s crucial that the content appeals to various generations. In her view, high-quality animation should be engaging and entertaining for both children and their adults as well.
Originally, animation was a form of entertainment for everyone, but it eventually became associated with children’s content. Now, according to Cohn, the challenge lies in making it appealing to all demographics. It’s been proven that even high-quality animation isn’t enough to attract audiences; spreading the word about the film is just as crucial these days.
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2024-10-29 18:47