Pixar’s latest box-office bomb is suddenly making its way to turn profitable eight weeks after a disappointing $29.6 million opening. Elemental booked the worst opening weekend in Pixar’s 28-year history after debuting on June 16. However, weeks after getting written off as a box-office flop, the animated rom-com has not only managed to break even but is set to turn profitable.
Tony Chambers, head of theatrical distribution at Disney, expressed his disappointment with the domestic ticket sales for Elemental, which received positive feedback from movie critics on the split side. The love story between the two anthropomorphic elements fire and water took a whopping $200 million production budget and was heavily marketed. After the disastrous opening, the studio was distressed.
However, Elemental has made a drastic turnaround at the box office, multiplying five times its initial ticket sales as of August. The rebound was somewhat expected as the “numbers were falling off so little” week by week. The film made $18.4 million in the second weekend, seeing only a 38% drop. Pixar president Jim Morris recently sat for an interview with Variety, expressing his views on the film’s sudden comeback. He pointed out the numbers and low drop rates of Elemental, which gave away its eventual comeback:
“The numbers were falling off so little. In some markets, it would be a 12% drop from the week before and we had a handful of markets where [ticket sales] were rising. You just don’t see that in this day and age. You typically expect a 50% drop on an average basis.”
As of Aug. 10, Elemental has crossed the $400 million mark and has grossed $425 million worldwide. Morris believed, “It’s rare you have an animated film that’s a love story.” The way Elemental’s story speaks to people of different cultures despite being American makes it stand out. Morris is hoping to “get it to maybe $460 million,” but he’s still holding out hope to do even bigger business:
“I always wish higher. I’d hate to disappoint myself, but I’d love to see it get to half a billion.”
Explaining how Elemental eventually became profitable for Disney, Morris cited the “different revenue streams” helping the film. Income from theme parks and consumer products all add to the film’s overall revenue and determine the final verdict of its profitability. But speaking on the box office earnings, Morris is reassured:
“At the box office we’re looking at now, it should do better than break even theatrically… This will certainly be a profitable film for the Disney company.”
Morris believes that getting families to move back to theaters and break free from the habit of watching movies on streaming is a big challenge right now. The COVID-19 pandemic trained audiences to watch Pixar’s movies on Disney Plus, and Elemental, too, suffered from the audience’s unwillingness to go to the cinemas now.
“We have a little work to unring the bell and motivate families to go to the theater and not wait a few months to see it on Disney Plus.”
For those wondering when will Elemental be available on Disney Plus, Morris believes in a traditional three or four-month window. “We make our films for the big screen. We love for people to see them with an audience.” So, it will be available for streaming from late September to mid-October. Catch a glimpse of the Elemental magic in the official trailer below:
Published: Aug 9, 2023 08:28 pm