OPINION: This article may contain commentary which reflects the author's opinion.
The Walt Disney Company is set for more losses following the flop of its latest animated film, “Strange World.”
According to reports, the film, which includes an openly gay teenager, brought in a paltry $4.2 million during its Thanksgiving Day release, while earning slightly more than $11 million over the subsequent 5-day period. The film cost $180 million to make, Variety reported, adding that, when all is said and done, Strange World could lose north of $100 million.
“Even with proper attention on Disney+ and home entertainment platforms, box office experts suggest it’ll be difficult to get the big-budget film into the black,” Variety reported. “Since ‘Strange World’ cost $180 million to produce and tens of millions more in global marketing and distribution fees, the film needs to gross roughly $360 million to break even, sources say.”
The Western Journal adds:
The only recent Disney-related film that performed worse was during COVID. Steven Spielberg’s 2021 remake of “West Side Story” was released by 20th Century Fox, a studio acquired by Disney in 2018. The musical only made $10.5 million in its opening weekend, according to CNBC.
The next lowest recent Disney film was 2021’s “Encanto,” which made $27.2 million over the weekend, and $40 million during the extended Thanksgiving holiday stretch. Not only were tickets sales for “Strange World” weak in the United States, it only earned $9.2 million from 43 markets internationally, according to Variety. There were many markets where Disney did not even release the movie, such as the Middle East, Malaysia, and Indonesia, Variety reported.
Several countries refused to show the film due to the LGBTQ theme.
The latest theatrical bomb comes amid a shake-up at the highest echelons of Disney.
Earlier this month, Disney announced that CEO Bob Chapek, who has been in charge of the company for just over a year, was dismissed and replaced by former CEO Bob Iger after Chapek’s ‘woke’ pivot cost Disney billions in valuation and cash.
“We thank Bob Chapek for his service to Disney over his long career, including navigating the company through the unprecedented challenges of the pandemic,” Disney Chairman Susan Arnold said in a statement, the Daily Wire reported.
“The company was also criticized for featuring a lesbian kiss in kids’ movie ‘Lightyear,’ showing a transgender man purchasing tampons in a TV series, and emphatically embracing the trend of Environmental, Social, and Governance, a strategy that courts investors by promoting a host of woke values within the corporate structure,” the outlet said.
The outlet added: “Disney stock has fallen over 40% over the last year amid an ailing economy. It’s woes have been blamed on a series of decisions that have alienated its family-minded and in many cases, conservative, customer base. The company clashed bitterly with Florida Governor Ron DeSantis over a law that prohibits public schools from teaching kids below the fourth grade about sexual orientation and radical gender theory.”
Chapek came out publicly and opposed the law, which was misnamed the “Don’t Say Gay” bill. That led the state’s Republican-controlled legislature to pass a measure stripping Disney of its special tax-break status in the state, costing the company even more money. The bill was quickly signed into law by DeSantis.
Conservative Brief reported in June:
Speaking at Seminole State College in Sanford, Fla., in mid-May, DeSantis reiterated his promise that the state’s taxpayers will not take on Walt Disney World’s debt when and if the Reedy Creek Improvement District (RCID) dissolves in 2023. The Republican governor suggested that some legislative measures may be put in place to prevent that from happening.
Iger sent an email to all Disney employees denoting his return to the company.
“Dear Fellow Employees and Cast Members,” he wrote in an email obtained by The Ankler. “It is with an incredible sense of gratitude and humility-and, I must admit, a bit of amazement-that I write to you this evening with the news that I am returning to The Walt Disney Company as Chief Executive Officer.
Disney’s ‘Strange World’ to Lose $100 Million in Theatrical Run https://t.co/XJ8ZX8ey5b
— Variety (@Variety) November 27, 2022
Email from Bob Iger to Disney staff, 7:19 p.m. pic.twitter.com/IiTQvBYYZp
— The Ankler (@TheAnkler) November 21, 2022
“When I look at the creative success of our teams across our Studios, Disney General Entertainment, ESPN and International, the rapid growth of our streaming services, the phenomenal reimagining and rebound of our Parks, the continued great work of ABC News, and so many other achievements across our businesses, I am in awe of your accomplishments and I am excited to embark with you on many new endeavors.
“I know this company has asked so much of you during the past three years, and these times certainly remain quite challenging, but as you have heard me say before, I am an optimist,” Iger added.
