We have covered all the mistakes that were made in the production of “Snow White” in detail. Disney continued to move forward, despite all of its flaws.
When it was released, I explained how the projections were repeatedly scaled back and that “Snow White”, despite being inflated by these deflated expectations, still managed to fall short. Things have only gotten worse. Even that initial report was wrong, with the box office takings initially reported being revised down to $42.2 million. The weekend totals were released, and it was clear that the predictions of a second chart-topping week were too optimistic. The lowbrow revenge film “A Working Man” by Jason Statham beat the film.
Snow White is a major Disney film with no similar competition, having only brought in $14.3 million during its second week. This is a drop of 66 percent. This kind of drop is usually seen in successful blockbuster releases, where the premier is front-loaded. But to fall by that much after a meager beginning is disastrous. The movie’s earnings after two weeks are $67 million. This is well below the initial projections.
Statham’s action film earned an extra million dollars despite being shown on fewer than 1,000 screens. Disney has suffered a major setback. Deadline did an analysis of the studio’s remaining prospects and found that even with the highest expectations, the studio is still taking a huge hit.
Anthony D’Alessandro of Deadline estimates that the film will end up earning around $100 million in domestic markets and $125 million internationally. Hollywood accounting is a nightmare, so estimating the final sum for a studio can be a bit of a guess. Start with an estimate of the cost of the film. “Snow White”, for example, is estimated to be between $250 and 270 million. The marketing costs must also be estimated and added to the expense report. Disney will need about $600 million to make a profit.
You then have to consider the secondary and tertiary markets. This includes international streaming, television, and cable licensing rights, as well as any potential monetary gains from licensed products or other promotions. D’Alessandro calculates these numbers to determine that the Disney Company will lose approximately $115,000,000 on the film.
This is a very generous offer. The studio only gets 50 percent from ticket sales. International theaters get 40-45 percent. The secondary market will also be reduced because Disney will own the outlets where the film will appear. Therefore, the streaming and cable rights for the movie will only be sold within the company. The current lack of interest in the theaters will not translate into a significant increase in the aftermarket.
It could take many years before the $200 million figure is reached. This could have been done much more cost-effectively and easily years ago. Simply dump any footage that you have already shot on Disney+ and call it a “special” exclusive feature.
What do I know? I’m no top-notch studio executive with all of the industry knowledge. But I also did not introduce a product that drained studios of hundreds of millions.
