by Ray Keating
Analysis
DisneyBizJournal.com
January 24, 2022
Disney recently announced that Pixar’s Turning Red will skip a theatrical release, and instead, head straight to a Disney+. This marks the third Pixar film in a row to land on Disney+, after Soul and Luca. What does this mean for Pixar? Three times a charm? Three strikes you’re out? Or just more COVID fallout?
Interestingly, the articles citing anonymous sources from inside Pixar didn’t capture anger and hostility against Disney or CEO Bob Chapek. Instead, the quotes came across as a combination of resignation and disappointment. With what’s going on with COVID, including the latest Omicron variant surge, those quoted admitted that they understood these decisions, though not necessarily liking them.
As one Pixar person was quoted by the Hollywood Reporter: “Everyone is really bummed, but most of us get it. Families just aren’t going to the movies.”
That lines up with what Kareem Daniel, chairman of Disney Media & Entertainment Distribution, said: “Given the delayed box office recovery, particularly for family films, flexibility remains at the core of our distribution decisions as we prioritize delivering the unparalleled content of The Walt Disney Company to audiences around the world.”
Consider that Disney animation’s Encanto, which was released in theaters on November 24, made $224 million at the box office on a production budget estimated at between $120 million and $150 million. Factor in marketing, and the film might have broken even … maybe.
Box office revenues obviously matter to Disney, but so does streaming subscriptions. And imagine where would Disney, and its Pixar subsidiary, be without streaming in this environment.
The big Pixar test now stands as Lightyear, which is scheduled to hit theaters on June 17, 2022. And yes, COVID will largely tell the story.
Turning Red will arrive on Disney+ on March 11. Like Soul and Luca, Turning Red will be available to Disney+ subscribers at no additional cost.
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Ray Keating is the editor, publisher and economist for DisneyBizJournal.com, and author of the Pastor Stephen Grant novels and assorted nonfiction books. Have Ray Keating speak your group, business, school, church, or organization. Email him at raykeating@keatingreports.com.
The views expressed here are his own – after all, no one else should be held responsible for this stuff, right?
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Keating has three new books out. Vatican Shadows: A Pastor Stephen Grant Novel is the 13th thriller/mystery in the Pastor Stephen Grant series. Get the paperback or Kindle edition at Amazon, or signed books at www.raykeatingonline.com. Past Lives: A Pastor Stephen Grant Short Story is the 14th book in the series. Again, get the paperback or Kindle edition at Amazon, or signed book at www.raykeatingonline.com. And order the 15th book in the series What’s Lost? A Pastor Stephen Grant Short Story – grab it at Amazon.com or signed editions at www.raykeatingonline.com.
Also, check out Ray’s podcasts – the Daily Dose of Disney, Free Enterprise in Three Minutes, and the PRESS CLUB C Podcast.
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