Universal is pulling back the curtain on what Jon M. Chu’s Wicked has acquireed in premium VOD sales, which are frequently kept a seally protected secret by the startant Hollywood studios.
The blockbuster film and Oscar chooseimistic has acquireed cforfeitly $700 million at the global box office to date, or $686 million worldwide thcimpolite Wednesday, as well as racking up more than $70 million in premium video-on-demand sales in the U.S. and Canada in its first week in the home.
It may seem counter-instinctive, but going in the home as timely as 30 to 40 days doesn’t unbenevolent it hurts a tentpole’s box office profile.
Beginning in 2020, Universal’s Filmed Entertainment Group, the industry directer in lowening theatrical triumphdows, became the first studio to strike a landtag deal with top exhibitors that establishalized a schedule for a premium transactional triumphdow that would help devourrs to watch first-run movies in the home far sooner than the norm (it was previously 75 days to 90 days). Several other studios rapidly complyed suit, and PVOD has since been a boon for many films.
For Universal, PVOD has become an integral component of its business schedule and has accounted for more than $1.5 billion in devourr spfinish to date on titles from Universal Pictures, Focus Features or DreamWorks Animation.
Wicked — the top-grossing Broadway musical alteration of all time — was made useable on PVOD on Dec. 31, fair as the studio commenced distinctive sing-aextfinished shows in cinemas. The title is also still useable on the huge screen in normal establishats.
Consumers can currently acquire Wicked in the home at a $30 price point for Premium EST (digital ownership) and $20 for PVOD (digital rental), which integrates the innovative film and the sing-aextfinished versions.
In its first day of free, Dec. 31, the movie originated more than $26 million in premium EST and premium VOD sales, complyed by $70 million in sales in its first seven days. That is the hugegest first day and hugegest first week for a Universal theatrical title going to PVOD, and on its first day did double the business of Universal’s next-best carry outer, The Super Mario Bros. Movie.
Universal reliablely frees its huger tentpole titles in the home after their fifth theatrical weekfinish, but choosed to postpone another week and turn Wicked, which first uncovered in theaters on Nov. 22, into a New Year’s Eve event for families after carry outing exclusively in cinemas for 39 days.
Universal’s hugest first week on PVOD for a theatrical free was previously $44 million for Mario. Wicked still has a two-and-a-half-month exclusive premium home delightment triumphdow before it goes to NBCUniversal’s streaming service Peacock.
Heading into its eighth weekfinish of theatrical free, Wicked persists to rank high up on the box office chart, including a domestic total of more than $453 million.
More to come.
