"Elio" lands Pixar's worst box office debut
Disney's Pixar saw its worst-ever box office debut over the weekend with its sci-fi adventure film "Elio" earning just $21 million domestically after reportedly spending at least $250 million on production and marketing.
Why it matters: The animated movie is a costly outlier to other family-friendly films that have packed cinemas and helped theaters toward a post-pandemic rebound.
By the numbers: "Elio" came in third place domestically over the weekend, behind Universal's "How To Train Your Dragon" at $37 million and Sony's "28 Years Later" at $30 million, per Comscore.
"Elio" brought in just $14 million overseas for $35 million in total, per Comscore.
The big picture: With the exception of "Inside Out 2" last summer, Pixar has struggled to regain the box office momentum of its dominance in the 2000s and 2010s.
"Luca" and "Turning Red" released straight to Disney+ in 2021 and 2022, respectively. "Lightyear" underwhelmed at the box office in the summer of 2022.
Pixar's previous opening weekend low was "Elemental" in the summer of 2023 at $29.5 million, though it ended up becoming a sleeper hit and brought in nearly $500 million globally.
"Elio" is Pixar's only theatrical release slated for 2025.
Yes, but: "Elio" has garnered positive early reviews with an 84% critics score and 91% audience score on Rotten Tomatoes.
Flashback: Activist investor Nelson Peltz took aim at Disney's studio struggles during his failed proxy fight, telling the FT that the company had "lost first place in animation." Though he lost that battle for board seats, his critique of Disney's creative outputs still resonates.
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