The stakes are high as Pixar releases its 27th feature film in theaters this Friday.
“Elemental,” a romantic immigrant story told through anthropomorphic elements of nature, arrives as Disney (NYSE:DIS) is under pressure to prove it hasn’t lost its golden touch in animation.
The company, which operates both Pixar and Disney Animation, has struggled to drum up ticket sales for its animated fare in recent years. Meanwhile, Universal’s Illumination and DreamWorks animation arms have dominated the box office with hits like “The Super Mario Bros. Movie,” “Puss in Boots: The Last Wish” and “Minions: The Rise of Gru.”
Disney’s Pixar studio, in particular, is looking to rebound from the box-office letdown that was “Lightyear.” The Buzz Lightyear origin story snared just $226.7 million at the global box office in 2022, a fraction of what past Pixar films have generated from ticket sales, according to data from Comscore.
“Elemental” is expected to debut between $35 million and $45 million domestically, according to industry analysts, in the midrange for a typical Pixar release but well shy of the $120.5 million that Sony’s animated “Spider-Man: Across the Spider-Verse” picked up during its opening weekend earlier this month.
One industry analyst says the growing diversity in animation studios and increased competition are positives for the industry overall. However, it has also highlighted a dip in Disney’s box-office prowess.
DIS shares fell 33 cents to $92.12.