Pixar’s Elio had a disappointing opening box office, prompting one Wall Street analyst to suggest that audiences are to blame for the poor performance of original animated films.
You won’t have to look too hard to find a story affecting concern at the opening weekend numbers for Pixar’s Elio, given that its $21m haul places it as the lowest theatrical opening for a film from the studio. This isn’t one of those stories. In the wake of the well-reviewed film’s release, it’s the comments of a media analyst that have caught the interest of the trades. Deadline for one has published quotes from Doug Creutz, a Wall Street media analyst who has a brief but interesting take on the matter.
Remarking that the profit gap between original animation and sequels/IP/adaptations has grown “enormously wide” since Covid, Creutz in no uncertain terms puts the blame for the growing lack of original stories at the feet of audiences, predicting that “we expect movie studios to react to this clear trend by greenlighting fewer original IP animated films (don’t blame film execs, blame audiences).”
In other words, if audiences don’t show up to support original animated films at the cinema, then don’t expect there to be an endless pipeline of said films.
While several clear counter arguments exist in opposition to this statement, it is at least logical. Of course, it doesn’t take into account that, during the pandemic, Disney trained its audience to expect Pixar films to premiere at home or that many folks no longer view the theatrical experience as acceptable value for money. But this is an analyst speaking, and as such, what we’re seeing is cold, inflexible logic. If audiences don’t show up to see these types of films, studios won’t make them.
Of course, Pixar has been in a tight spot before and navigated its way back out again, not least with the slow-burn success of Elemental, so it would be silly to start doom-mongering off the back of one struggling release. However, Cruetz is analysing the wider context here, and he argues that the loss of original animation could have much more dire consequences for Disney than we might think.
“The issue,” argues Cruetz, “is that without new hit properties, a studio cannot grow its IP portfolio. This could be particularly problematic for Disney, which depends on its animated film/parks/consumer products flywheel to help drive overall company growth.”
Lots of corporate-speak in there, but you get the point. Without new characters and stories, Disney’s whole business model eventually stalls – and that isn’t something the wider industry can afford to let happen.
With this news appearing just a day after Hollywood executives were polled and showed an alarming lack of faith in the future of the theatrical sector, it makes for more grim reading.
What are your thoughts? Do the audience have a responsibility to bear here? And, out of interest, why – if you didn’t see it, did you give Elio a miss?
