Disney’s CEO Bob Iger announced earlier this month that Moana 2 would get a worldwide theatrical release instead of a Disney+ streaming release. While many fans have praised the production house’s decision to release the highly-anticipated animated sequel in theatres, some have raised concerns about this scenario, considering Disney’s recent track record with theatrical releases.
In a recent interview with The Wrap, Bob Iger discussed the company’s decision to bestow Moana 2 a wide theatrical release. “We knew it deserved a theatrical release. The original Moana film from 2016 recently crossed 1 billion hours streamed on Disney+.”
Iger’s comments make sense, given that its 2o16 predecessor minted over $680 million globally against its $150-175 million budget. It was also universally praised for its voice performances (particularly of Dwayne Johnson’s), animation quality, soundtracks, and storyline.
But we also have to consider the box office performances of some of the recent Disney animated releases. The post-COVID era has yet to turn out kind for the company, especially for its animated movies. Frozen II (2019) was the last Disney animated project to earn over a billion at the global box office. All four projects that came out of Walt Disney Animation Studio after 2019 flopped hard, including Wish, which bombed with a significantly low global collection of $249.7 million ($175-200 million budget). Even Pixar’s recent theatrical releases, such as Luca (2021), Lightyear (2022), Elemental (2023), and more, performed poorly.
It is commendable that Disney is trying hard to achieve its dominance over the global box office that it once had before 2020. However, the recent shift in strategy regarding the release of Moana 2 clearly indicates that the company’s faith in the Disney+ streaming service has shaken. Or the executives have forgotten the power of streaming services. One of the WDAS’ projects, Encanto, found a new life on Disney+ after failing at the box office. It was the most-watched film of 2022, with a total of 27.4 billion minutes of viewing.
Encanto’s revival story shows that Moana 2 will perform better via a streaming release on Disney+ instead of a theatrical release. Another factor favouring Moana 2’s streaming release is that viewers can watch it as many times as they want after the first month’s paid subscription. The upcoming sequel will feature the return of Auli’i Cravalho and Dwayne Johnson as Moana and Maui, respectively. It will arrive in theatres worldwide on November 27, 2024. Stay tuned for more updates.
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