Disney faced a difficult year in 2023, losing its global market share crown to Universal due to a series of disappointments at the box office.
Universal’s success was driven by hits like “The Super Mario Bros. Movie” and “Oppenheimer,” while Disney struggled with underperforming films such as “Wish,” “Elemental,” and “The Little Mermaid.”
The Hollywood Reporter’s headline read, “Disney Cedes Global Marketshare Crown to Universal After Years of Domination.” (Trending: Hollywood A-Listers Revealed In Epstein Court Documents)
“The 24 movies released by Universal generated an estimated $4.91 billion in worldwide ticket sales, compared to an estimated $4.83 billion from the 17 titles released by Disney in what made for a relatively close race both in North America and at the foreign box office. Even a week ago, no one in Hollywood was sure Universal would prevail, especially overseas,” reported the outlet.
The company’s CEO, Bob Iger, attributed the decline to a focus on quantity over quality.
Additionally, Disney’s perceived embrace of woke culture, exemplified by controversial park displays and the appointment of a feminist activist to direct a “Star Wars” film, has sparked criticism.
Universal’s diverse film slate and effective marketing strategy were cited as factors contributing to its success.
Jim Orr, Universal Pictures president of domestic distribution, wrote, “In 2023, Universal once again found success at the box office with our eclectic slate of films.”
“Our slate featured blockbusters like Christopher Nolan’s epic ‘Oppenheimer’ and Illumination’s record-breaking ‘The Super Mario Bros. Movie,’ horror hits including Blumhouse’s breakout hit ‘M3GAN,’ comedies, dramas, and family films from two of the biggest names in animation, Illumination and DreamWorks Animation,” his statement continued.
Box Office analyst Paul Dergarabedian, said, “Universal seems to have found the perfect balance of franchise films, animation, horror and everything in between — and these assets are given every possible advantage with a pitch perfect strategy that combines great filmmaker relationships, fantastic marketing and a rock solid distribution plan.”
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