Disney’s (NYSE:DIS) latest animated film, “Wish,” has surpassed $100 million at the global box office after three weeks of release. The movie, celebrating Disney’s 100th anniversary, tells the story of a young girl named Asha who makes a powerful wish and teams up with a cosmic force named Star to save her kingdom from the evil King Magnifico. Despite facing competition from other releases, “Wish” has shown resilience, opening in new markets and maintaining its position among the top films.
The film, with a reported budget ranging from $175 million to $200 million, represents Disney’s first original animated film since 2017’s “Coco” to surpass the $100 million mark at the worldwide box office. While it still has a considerable distance to reach profitability, the milestone is significant for Disney.
This success follows Disney’s decision to shift three highly anticipated Pixar films — “Soul,” “Luca,” and “Turning Red” — from streaming platforms to theatrical releases in 2024, taking advantage of the resurgence in cinema attendance.
Disney’s move to release older Pixar films in theaters helps fill scheduling gaps caused by disruptions, providing family-friendly content that could contribute to the company’s top-line growth in the coming quarters.
Despite facing competition from other major entertainment companies like Sony, Paramount, and Lions Gate Entertainment, Disney aims to leverage its strong content portfolio to maintain its position in the film industry.
The company’s fiscal 2024 revenues are estimated to reach $92.05 billion, with a projected year-over-year growth of 3.55%. The consensus estimate for earnings is $4.38 per share, indicating a year-over-year growth of 16.49%.
The success of “Wish” and the strategic shift of Pixar films to theaters contribute to Disney’s efforts to navigate challenges in the industry and enhance its presence in the box office landscape.
Featured Image: Megapixl
