DIS Walt Disney Co

By R.T. Watson 

Walt Disney Co.'s latest Pixar movie "Onward" took the No. 1 spot at the box office over the weekend as the number of coronavirus cases continues to rise in both the U.S. and abroad.

Mustering decent ticket sales for a March opening, "Onward" grossed $40 million in the U.S. and Canada, according to preliminary studio estimates.

By regular standards, "Onward" may have performed reasonably during its first weekend at the box office, especially considering some health officials have cautioned against public gatherings, sparking a string of event cancellations including this year's South by Southwest festival in Austin, Texas.

But when comparing "Onward" with its peers, the movie logged the third-worst domestic opening among the more than 20 films released by the prolific Pixar Animation Studios, most famous for having created the much-loved Toy Story franchise.

Without adjusting for inflation, Pixar's worst opening so far has been its first film, 1995's "Toy Story " which grossed $29.1 million in its first weekend in North American theaters. The studio's best ever debut is "Incredibles 2," which earned $182.7 million in ticket sales in 2018, according to media-measurement company Comscore.

"Onward" also grossed an additional $28 million from 47 overseas markets, bringing its global total to $68 million, according to Comscore. Due to coronavirus concerns abroad, Disney wasn't able to open "Onward" in key markets such as Japan, South Korea and Italy.

Releasing "Onward" in China, the world's second-biggest box-office market, remains up in the air as the nation's nearly 70,000 theaters have been shut due to the coronavirus outbreak.

With characters voiced by Chris Pratt and Tom Holland -- who breathe life into animated elf siblings dealing with the loss of their father -- "Onward" was inspired by director Dan Scanlon's own childhood experience. The movie has received strong reviews and an A- CinemaScore.

"We're very encouraged by how the audiences are responding with really good word-of-mouth, and as families start their spring break holidays, it looks to set us up for a good long run," said Cathleen Taff, Disney's head of distribution.

To be fair, ticket sales for "Onward" could have also been impacted by its unique release date, according to Comscore analyst Paul Dergarabedian. It is the "first Pixar movie in the studio's 25-year history to open outside of the summer or holiday corridor," he said.

Looking ahead, theater owners in North America and abroad are facing a particularly unpredictable set of hurdles as authorities and medical professionals attempt to contain the coronavirus outbreak.

MGM Holdings Inc. announced a few days ago it was postponing the release of the 25th James Bond film "No Time to Die" until November. The movie had originally been slated to premiere around the globe in April.

Even before the coronavirus outbreak, Disney was facing a potentially down year. In 2019, the studio dominated the market with a string of hits including Pixar's "Toy Story 4," "The Lion King," "Frozen 2," and "Star Wars: The Rise of Skywalker." This year, Disney's slate features fewer remakes and sequels from established brands.

Perhaps Disney's two most recognizable titles this year include a live-action remake of the 1998 animated film "Mulan," scheduled to be out in theaters at the end of this month, and "Black Widow," an Avengers spinoff starring Scarlett Johansson, which is set for May.

This week's second-best-performing film at the domestic box office was thriller "The Invisible Man," starring Elizabeth Moss. Produced by low-budget horror hit factory Blumhouse Productions, the movie -- which cost just $7 million to make -- has grossed a total of $52.7 million in the U.S. and Canada after two weeks in theaters, according to Comscore.

Comcast Corp.'s Universal Pictures, which boasts a long successful relationship with Blumhouse, distributed "The Invisible Man."

Warner Bros. -- run by parent company AT&T Inc. -- scored third place at the box office with the well-reviewed R-rated drama "The Way Back," starring Ben Affleck.

(END) Dow Jones Newswires

March 08, 2020 14:21 ET (18:21 GMT)

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