‘Paw Patrol’ box office shows why some studios are selling to streamers
Excerpt from “Paw Patrol: The Movie”.
“Paw Patrol: The Movie” won just $ 13 million in domestic box office sales on its opening weekend, signaling that families are not ready to return to theaters, especially whether the movies are available on streaming platforms at the same time.
Based on one of the most popular children’s television franchises, the animated film Paramount debuted this weekend in theaters and via the streaming service Paramount +. With children under the age of 12 currently unable to get vaccinated against Covid-19, it’s no surprise that the film did not attract a large audience in theaters.
âFamily audiences have a different set of priorities when it comes to how they want to watch movies,â said Paul Dergarabedian, senior media analyst at Comscore. “Parents determine where to see a movie based on a lot of variables, including those that have to do with the movie itself of course, but also other factors related to the pandemic and that makes the situation quite complicated.”
While âPaw Patrolâ has exceeded the box office expectations of some analysts, it is part of a larger trend of lukewarm ticket sales for family-oriented films.
Sony’s âPeter Rabbit 2: The Runawayâ has grossed $ 40.5 million in ticket sales nationally and just over $ 100 million internationally since its release in June, according to data from Comscore. For comparison, the first film “Peter Rabbit” grossed $ 115 million at the domestic box office and $ 231.4 million in sales in overseas markets.
in the same way, Universal’s âThe Boss Baby: Family Businessâ has grossed less than $ 100 million in worldwide sales since its release in July, while its debut film has earned $ 527.9 million worldwide.
These more modest box office results explain why a studio like Universal has postponed its movie “Minions: The Rise of Gru” until 2022 and why Sony is said to be in talks with Amazon Prime Video to sell “Hotel Transylvania 4” for 100 million. of dollars.
After all, Universal Despicable Me’s three films have generated more than $ 2.5 billion in global box office sales, and its debut film âMinionsâ grossed $ 1.15 billion. Even with its Peacock streaming service available, Universal anticipates a bigger advantage by postponing the sequel until next year.
As for Sony, the Hotel Transylvania franchise has raised more than $ 1.3 billion in box office revenue worldwide since 2012. Each sequel has generated about $ 100 million more than the last. Sony does not have a dedicated streaming service, so it could benefit from a theatrical release only of its movie. However, with the Delta variant raging in the United States, there is no guarantee that families with unvaccinated children will be venturing into theaters en masse.
Sony can get a guaranteed payment from Amazon that it doesn’t have to share with movie theater operators.
Disclosure: Comcast is the parent company of NBCUniversal and CNBC. NBCUniversal has released “The Boss Baby: Family Business” and will distribute “Minions: The Rise of Gru”.