Disney has acknowledged that its recent live-action adaptations of "Moana" and "Star Wars: The Mandalorian and Grogu" did not meet expectations at the box office. However, the company emphasized that theatrical revenue is not the sole metric for success, pointing to significant merchandise sales and future streaming performance as crucial elements.
The live-action "Moana" film has grossed approximately $263 million worldwide against a production budget of $250 million. Factoring in marketing costs, the film is unlikely to have turned a profit. The movie faced pre-release skepticism from some fans regarding its necessity, with online commentary often focusing on visual elements like a prominent wig.
Meanwhile, "The Mandalorian and Grogu" concluded its theatrical run with $345 million in ticket sales against a $165 million budget. While this performance yielded a better profit margin than "Moana," it marks the lowest box office total for any live-action Star Wars film, even falling below that of "Solo."
Despite these figures, Disney stated in its latest financial results that "These franchise investments contributed to value creation beyond their theatrical releases." The company specifically noted that "The Mandalorian and Grogu" drove "healthy growth in retail sales for the Star Wars franchise during the quarter." Looking ahead, Disney anticipates the live-action "Moana" will perform strongly on Disney+, leveraging the success of the original animated film, which is one of the most streamed movies ever. The company sees this as an opportunity to extend the franchise's reach, which already includes two animated films, a themed area at EPCOT, and a substantial global merchandise business.
While "Moana 2" appears unlikely, details regarding future appearances of "The Mandalorian and Grogu" characters have not been disclosed. Separately, Disney reported significant success for "Toy Story 5," which surpassed $1 billion at the box office, and noted strong international performance for "The Devil Wears Prada 2."