Is Disney Turning the Corner in Animation?
If you haven't seen Walt Disney's (NYSE: DIS) Elemental at your local multiplex, you're not alone. The latest animated film cracked $125 million in cumulative domestic ticket sales in its fifth weekend of screenings. Based on current average theater admissions, less than 4% of the country has seen the movie at a theater.
This may seem like a pretty rough showing for a company that got its start as a pioneer in animation 100 years ago, but it's not so bad once you take a closer look. Given Disney's dreadful performance on the full-length animated front since the pandemic, Elemental is faring pretty well on a relative basis.
Hopes weren't high when Elemental hit theaters in mid-June. Variety was predicting that the film would generate just $35 million in stateside admissions in its premiere weekend, the softest start for a Pixar film in the modern era. It fared even worse, failing to crack $30 million domestically at the box office.
Source Fool.com
