As the year concludes, Walt Disney Co. finds itself grappling with the aftermath of the lackluster box office performance of its latest superhero film, “The Marvels,” which stands as the lowest-grossing installment in the Marvel Cinematic Universe (MCU). The movie, released on November 10, experienced a swift decline in domestic box office standings, falling out of the top 10 just three weeks after its debut. With a disappointing $46.1 million in U.S. box office revenue and a global gross of $197.2 million, “The Marvels” falls far short of the success achieved by other Disney Marvel releases in 2022, such as “Black Panther: Wakanda Forever” and “Doctor Strange in the Multiverse of Madness,” both of which surpassed $800 million worldwide.
This underwhelming performance has raised questions about the robustness of the MCU brand, which has been a cornerstone of Disney’s studio business. The MCU’s interwoven narrative across film and TV, complemented by its influence on Disney’s parks and consumer products, has been a key driver of the entertainment giant’s success. However, recent Marvel projects have shown vulnerability at a time when Disney, led by CEO Bob Iger, is navigating challenges following the pandemic, substantial investments in Disney+, and efforts to boost its stock value.
“The Marvels” faced challenges in its marketing campaign, notably the absence of a typical promotional blitz featuring stars Brie Larson, Teyonah Parris, and breakout “Ms. Marvel” performer Iman Vellani due to the SAG-AFTRA strike. Despite the strike’s resolution on November 8, Disney chose to stick with the film’s original release date, a decision that may have contributed to its struggles at the box office. Daniel Loria, the senior vice president of content strategy at BoxOffice Co., notes that marketing strategies were hampered, stating, “There’s a way you market these things. Disney has been great at marketing these types of movies. They weren’t able to do it the way they used to.”
“The Marvels” is not the first sign of trouble for the MCU; “Ant-Man and the Wasp: Quantumania,” released in February, received poor reviews and faced challenges sustaining momentum after its promising opening weekend. However, James Gunn’s “Guardians of the Galaxy Vol. 3” was a notable success.
The proliferation of Marvel content on Disney+, including series like the second season of “Loki” and the “Secret Invasion” miniseries, along with mixed reviews for films like 2021’s “Eternals” and 2022’s “Thor: Love and Thunder,” has led to concerns about the overall quality of Disney’s Marvel-branded projects. Bob Iger acknowledges the impact of the pandemic and high expectations, stating, “We set the bar so high,” and recognizing the need for more realistic expectations.
Iger suggests that streaming habits may have contributed to lower theater turnout, with audiences now accustomed to accessing MCU content at home. Brandon Katz, an analyst with Parrot Analytics, emphasizes the shift in viewer habits and the need to retrain audiences to prioritize the theatrical experience. While “The Marvels” may receive a streaming bump when it lands on Disney+, as observed with other recent MCU releases, it raises questions about Disney’s future strategy for Marvel content.
Disney has outlined a release schedule through 2025 for “Phase Five” of the MCU, featuring films such as “Deadpool 3,” “Captain America: Brave New World,” and “Fantastic Four.” However, due to production delays resulting from the SAG-AFTRA strike, “Deadpool 3” is the only Disney-released Marvel title planned for 2023. Other Marvel characters will still appear on screen through Sony Pictures’ productions like “Madame Web,” “Kraven the Hunter,” and “Venom 3.”
As Disney assesses the performance of “The Marvels” and its broader Marvel strategy, there is a need to balance the volume of Marvel material released with maintaining the quality that audiences expect. The company’s ability to navigate these challenges will shape the future of the MCU and its position within Disney’s expansive entertainment portfolio.
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