The movie was supposed to evoke feelings of nostalgia among older collectors. It failed.
Ironically, this kind of failure may actually be a good time to buy a bunch of the figures for collecting purposes, because -- if no one else is buying them -- they may end up thrown away and ignored, and therefore become more valuable as collector's items.
This is also why I don't really bother with sweating collectible toys. Buy what you want, ignore the rest, and forget about the pokemon "gotta catch 'em all" attitude.
Whether one thoroughly enjoyed, tolerated, or disliked the film: Dial of Destiny has only made USD $172 million at the worldwide box office so far and receipts have been dropping. Considering that Disney/Lucasfilm was well over $400 million for production and advertising, they were needing $800 to $900 million to even HOPE to break even. This is going to be a huge financial loss for the company.
Disney has done "OK" box office wise with Guardians 3 this year, but is losing on Elemental.
Little Mermaid has over $527 million worldwide and that may be enough to make a little profit.
Ant Man 3, won't break even with a $426 million box office.
Avatar 2 was a ginormous success, but was never really a "Disney" film, that was ALL Cameron and good will from the pre-Disney days for the original film.
Is there anything to "learn" here? I'll toss out a few points
-Disney has got to get film production costs down.
-Disney needs to stop carpet-bombing theatrical releases that cannibalize each other.
-Disney needs to "slow down"
-Disney needs to SERIOUSLY RECONSIDER making any new SW films
-Franchise burn-out is a real thing
"Solo" was a big scare for the company at $393 million worldwide box office, and I believe is the only live action SW theatrical release to not make a profit at the box office.
I think they definitely need to figure out more effective release schedules. They also need to get hip to the new reality of moviegoing, which is...that people aren't going as much at a baseline. Some of this also ties into their digital platforms and digital releases.
People have 4K TVs and surround sound systems at home. They know that the movie will hit digital-to-buy within, like, 2-3 months of release. What Disney
was doing was releasing on D+ around the same time, so...why bother buying the movie if you're subscribed to D+ anyway? Just wait a couple months and you can get an almost-as-good-if-not-better experience at home as you would in the theater.
With GOTG3, they've shifted strategy somewhat, and it'll be interesting to see how that affects digital sales. GOTG3 is now available to buy streaming, but it's probably not coming to D+ until August or September. This
may prompt folks to buy sooner. But it may not. I mean, what the pandemic and home viewing and home theater technology may all be creating is a culture that is simply more patient for films to hit in a more affordable way.
And while box office business last summer was generally better, this summer I think it's hurting.
There's also the global box office impacts for Disney, like Russia simply disappearing as an available market, and China making life difficult for them as well. That eats into their profits and it may in turn prompt them to think about how to cut costs and save a buck.
I do think they need to revisit their all-tentpoles-all-the-time strategy, though.
But separate from that, I think there are both global factors that are affecting box office, and film-specific factors that are affecting it.
I think legacy sequels are much more risky than Hollywood realizes. Getting it right with a legacy sequel is
hard. You can't just throw the IP out, trot out the old warhorse of a main character from days gone by, and simply print money. I mean, ******, Indiana Jones was losing cultural relevance in 2008, when it had been almost 30 years since he'd been on the big screen. And now it's been another 15 years since
that movie came out. I think there's a misunderstanding of what has made legacy sequels work, and which properties retain cultural relevance.
It will go down as probably the worst failure in Disney history, if not one of the worst in all of cinema history.
I dunno, man. That seems kind of hyperbolic. The Walt Disney company has a long history. This may be the highest profile flop they've had in a long time, but given the sheer longevity of the company, I'd be cautious about saying "worst ever."
Now if Marcus Brody came with laser guided missile firing jet backpack, they’re have something.
Side note: I was telling my kid, while she was playing with a toy "Star Wars Mission Fleet" Millennium Falcon, that when I was a kid, not only did the weapons not actually shoot, but the box even said "Weapons do not shoot."
I think if Iger and Kennedy have proven anything, it's that they're allergic to making money. I also think that, The Flash aside, you probably have to go back to Heaven's Gate to find a bigger disaster. That one bankrupted United Artists and ended Michael Cimino's directing career.
And yet Kathleen Kennedy still has a job. She's an absolute barnacle.
I think Kennedy's track record is mixed. It's not all bad. The ST made money. Whatever you want to say about the quality of the films and lack of planning and all the rest, it still made money. The other films, though, didn't. And Kennedy is just LFL's head. I don't see people calling Kevin Feige into question, even though Ant-Man 3 didn't do so hot, and every entertainment writer has probably already written a generic "Is this the end of the MCU?" article because it's the new hot speculation. Granted, Marvel has a longer, much more successful track record than LFL, but even so, the knives are out for the MCU and comic book movies writ large.
I don't know that it's franchise burnout. I think it's more theater burnout. I've said before, they kill their own theater returns by moving it to streaming so damn fast. I mean, for crying out loud, it's speculated Flash will hit Max in mid/late August based on what they did with Shazam as an example. TWO FREAKING MONTHS. If you were on the fence, which most people with due to the actor's actions if nothing else, why pay to see it in a theater if you can get it in two months at home for no additional cost? We're down to TWO MONTHS. Guardians was a big hit, it's hitting DVD and streaming etc August first based on the commercial i saw last night. That's a hair short of THREE MONTHS.
It's available for streaming
purchase now. It'll be available on other platforms in August, yeah.
But otherwise, yeah I totally agree with you. The rise and spread of streaming platforms is absolutely eating into box office revenues. Why go to a theater with sticky floors and noisy kids when I can just wait another month or two and it'll hit digital? I've got a nice 54" 2012 Panasonic plasma. It's not top-of-the-line anymore (though it's the last of the really great plasmas), but it gives me a great show at home when I want it. I've got surround sound if I want it, too. And you know what I also have? A remote so I can pause when I need to take a leak or want to go get food I already paid a reasonable price for instead of inflated concession-stand candy or popcorn or whatever.
And your calculus re: The Flash is exactly why I'm waiting for streaming. I'm genuinely curious about the film. It may be terrific. But I was NOT going to contribute to box office receipts for it, especially considering Ezra Miller's behavior. Screw that.
The last movie I wanted to see in a theatre that i missed was Top Gun Maverick. Long story short, crap load of stuff going on at the time and I didn't have the time to see it til i was out of IMAX which, to me, was the whole point since it was shot that way. By the time I had time, even though it was out of IMAX, it was still nearly two months later. Today, it'd be nearly available at home.
I think the last film I saw in a theater was The Rise of Skywalker. I haven't been back since. I haven't really felt any strong desire to go, either. The "big screen experience" just isn't really worth it to me for the films that are coming out...because I know it'll be on streaming and I'm happy to just be patient.
The modern Disney era has killed toy sales entirely. Absolutely none of their franchise movies have been successful in the toy aisle.
I suspect it's far more "correlation" than "causation." The modern Disney era did not actively kill toy sales. Shifts in how kids play and what they play with killed toy sales. When kids are much more excited about playing Minecraft, it's gonna be hard to convince them to get action figures. And Disney's Marvel division has done perfectly well with toy sales.
There's also the fact that culture simply moves too damn quickly and kids' tastes shift really, really quickly these days in relation to that. I think there's just an intensity and speed of cultural consumption that just leads kids to get super into stuff, and then burn out on it and move on to the next thing. You don't have the long-term enjoyment of a specific franchise, because there's always something else coming down the pike to distract you. The things that my kid has most connected with are pretending with her stuffed animals, and pretending with various dress-up clothes. She hasn't been super into Barbie toys, she didn't get super into Star Wars stuff that I got her, she burned out on Peppa Pig when she was younger, she didn't get super into Bluey. She's just not really
figure driven in how she plays.
The franchise she's been most into has been Harry Potter, but now that she's finished all the books and watched all the movies, and her best friend from school this year is going to be in a different class next year, well, who knows if she'll stay interested. Put simply, she -- and other kids I've seen around her -- just consumes culture differently and it affects how she plays. As a result, we buy
far fewer toys, and much more "pretend" stuff, which has always been more her thing anyway.
All these years later and I still can't believe 'The 13th Warrior' did so badly. Yeah it had problems, but I liked it when it came out and I like it now.
"They think they are bears..."