OPINION: This article may contain commentary which reflects the author's opinion.
The Walt Disney Co. appears to be on the path to another disappointing theatrical release with the new animated Avatar sequel. The film, “Avatar: The Way of Water,” earned around $56 million for the weekend that ended on Sunday, which represented a 58.2 percent decline from its debut a week ago.
While some caution that there could be mitigating factors that tempered movie attendance, such as the Christmas holiday over the weekend and the bomb cyclone that prevented much of the country from doing a lot of traveling amid bitter cold and snow, the poor second-week performance, nevertheless, likely has Disney execs on edge after a number of other high-profile flops this year.
“So far, Avatar 2 has grossed $279.7 domestically — a weak beginning for the most hyped movie of the year. The figure suggests the movie is having trouble generating the kind of repeat viewing that propelled the first Avatar to become the highest-grossing movie of all time,” Breitbart News reported.
The report added:
Globally, Avatar 2 has so far grossed $881.4 million. The movie had an estimated production budget of $460 million, which doesn’t include marketing costs, meaning it will have to gross between $1.5 billion to $2 billion just to break even.
Perhaps most worryingly for Disney, the movie is the latest in a growing line of Hollywood blockbusters to flop in China, bringing in $57.1 million on its opening weekend there, far below the approximately $120 million it was expected to earn.
The first Avatar film, released in 2009, was a major hit in China, where it grossed $200 million.
The entertainment giant has been taking financial hits for the past year, with many critics blaming the company for putting “woke” ideology ahead of what a majority of Americans actually want to see. The dismal performance led to the firing of CEO Bob Chapek, who was replaced by former CEO Bob Iger last month.
Chapek’s tenure has been marked with complaints of overtly “woke” content that has failed to resonate with audiences, falling stock prices, and bleeding profits, not to mention a political fight with Florida’s most popular elected official.
The Daily Wire noted as well:
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.
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 Mouse House lost billions during the COVID-19 pandemic, including having its parks closed for much of the time. Chapek was charged with bringing Disney back to profitability, but instead, he caved to a small number of employees who opposed a piece of legislation in Florida barring trans and LGBTQ curriculum being taught to children between kindergarten and third grade.
Disney’s previous animated offering, “Strange World,” also flopped.
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.”
