That's what Aladdin, its last life-action adaptation, took at the global box office.
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Before corona, Disney could reasonably have expected the movie to gross more than $1 billion worldwide. From the $100 million in digital sales on the film in the US, it's been estimated Universal cleared $77 million in profits, around the same amount it made from the $154 million the first Trolls film took at the US box office.īut Mulan is a lot bigger than Trolls World Tour. In April, Universal did a PVOD release for Trolls World Tour, a sequel to its 2016 animated musical Trolls. Many have argued selling films online at a high-price,called Premium Video On Demand, or PVOD, is a better deal for Hollywood studios than putting them in theaters. But every penny of every digital copy of Mulan sold on Disney+ will go to-you guessed it-Disney. When a Hollywood studio releases a film in cinemas, the profits from every ticket sold are typically split 50-50, half for the studio, half for the movie theater. And the move could, theoretically, make Disney even more money than putting the film in theaters.
The high-profile movie is sure to attract even more subscribers to Disney+.
On the surface, Disney's Mulan move looks like a win-win for the Mouse House. "We're looking at 'Mulan' as a one-off," says Walt Disney CEO Bob Chapek "Out of both success (Disney+) and necessity (COVID-19 disruption), Disney is moving to push its streaming strategy to new levels of investment and growth," writes Morgan Stanley analyst Benjamin Swinburne in a recent report. Disney embraces the future - and a better profit marginįor many, apparently, releasing Mulan online is sign that Disney is abandoning its traditional cinema past and embracing a digital future. At this rate it will blow right past that. In just nine months, Disney+ has racked up 60.5 million subscribers worldwide, according to company reports. To compare, it took Netflix seven years to get that many people to sign up of its service. Disney originally set a target of 60 million to 90 million Disney+ subscribers by 2024. Instead of focusing on losses at the studio's movie and theme park businesses, investors saw a positive story in Disney's digital operations, which are soaring. Disney's stock jumped more than 5% on the news, despite reporting a $4.7 billion (€3.96 billion) loss from April to June this year. The Mulan move appeared to help Disney, which has been financially battered by the coronavirus pandemic. As long as they keep paying their Disney+ membership fee -$6.99 a month in the US, €6.99 a month in Europe -customers can watch the movie as many times as they want. From September 4, Disney+ subscribers will be able to rent Mulan for $29.99 (€25.30). Instead, Disney will sell Mulan directly to fan over its new streaming service, Disney+. Theaters around the world were counting on the movie, a live-action remake of Disney 1998 animated hit, to help bring movie fans back to theaters after months of coronavirus-imposed lockdown. Instead, the live-action epic will go online. This week Disney shocked cinema owners around the world when it announced that it won't release its hotly anticipated, $200 million (€169 million) blockbuster film Mulan in theaters.