Disney’s (NYSE:DIS) most recent animated film, “Wish,” has successfully crossed the $100 million threshold in global box office revenue, achieving this milestone three weeks after its release.
The movie, created in celebration of Disney’s 100th anniversary, narrates the journey of Asha, a young girl who makes a formidable wish and joins forces with a cosmic entity named Star to rescue her kingdom from the clutches of the villainous King Magnifico.
Despite facing tough competition from other releases like “The Hunger Games: The Ballad of Songbirds & Snakes” and “Napoleon,” which outperformed “Wish” at the box office, the film has displayed resilience by expanding into new markets. It has found success in countries such as France, Switzerland, Germany, and Austria, where it has secured a spot among the top films.
While “Wish” is still a considerable distance from reaching profitability, especially with a reported budget ranging from $175 million to $200 million, it represents a noteworthy achievement for Disney. Notably, this film stands as the first original animated production since 2017’s “Coco” to surpass the $100 million mark in worldwide box office revenue.
Disney’s shares have experienced a 6.8% gain year-to-date. However, this is in contrast to the Consumer Discretionary sector’s rise of 12.8%, influenced by the underwhelming performance of Disney’s recent movie releases.
Amid the pandemic’s disruption to Disney’s original movie release plans, three highly anticipated Pixar films—Soul, Luca, and Turning Red—initially slated for theaters became exclusive to streaming platforms. With the resurgence of cinema attendance, Disney is now transitioning these films back to theatrical releases in 2024.
Scheduled for release on Jan 12, Feb 9, and Mar 22, respectively, Soul, Turning Red, and Luca, though accessible for up to three years, are expected to draw audiences to theaters, leveraging the enduring popularity of family-friendly films. Additionally, this strategic move aims to generate anticipation for upcoming Pixar releases, including Inside Out 2, set to hit theaters on Jun 14.
Facing challenges in the past year, including industry strikes causing delays, Disney’s decision to release older Pixar films in theaters addresses scheduling gaps resulting from disruptions. These films are anticipated to contribute to the company’s top-line growth in the coming quarters.
The Consensus Estimate for Disney’s fiscal 2024 revenues is $92.05 billion, indicating a year-over-year growth of 3.55%. Earnings are estimated at $4.38 per share, reflecting a year-over-year growth of 16.49%.
Featured Image: Megapixl
Author Stephanie Bédard-Châteauneuf 
