The Disney gamble of putting Encanto out on Thanksgiving weekend, with weeks before it would be offered for free, seems to have not panned out. On the other hand, Ghostbusters Afterlife is a Sony offering that is sure to make critics’ blood boil. While Encanto is far from reaching its $120 million production budget (not to mention the advertising budget), Ghostbusters Afterlife is headed for profitability. As a result, Sony feels so good that they’re signing the co-writers of the film not only to a long-term contract, but they’re going so far as to give them their own production company!
Cinema Blend Says Ghostbusters Sequel Likely on the Way
No, Ghostbusters Afterlife didn’t beat Encanto over Thanksgiving. But with the 80s icons overperforming in its original week, a sub 50% drop in the second week is enough to essentially guarantee the film will be a financial success during its box office run. With an estimated production budget of only $75 million, Ghostbusters Afterlife has already drawn more in ticket revenues than the film cost to make. Though Sony will not see all of that revenue after cinemas get their cut, the movie looks to have great legs going into December. Meanwhile, Encanto will almost certainly fall off a cliff once it is available for free on Disney+.
So what are the total revenues for the two films that we said earlier would have a big impact on companies’ approach to the box office going forward?
Two Weeks:
Ghostbusters Afterlife – $116,639,898
One Week:
Encanto – $65,635,800
Box Office Statistics for this Article Sourced by: The-Numbers
If Encanto manages only a 50% drop in its second week, it will be trailing Ghostbusters Afterlife week-to-week. This has to be causing industry executives and analysts to do a double-take. And if Encanto is unable to pull in numbers at the box office, is it because people are waiting for the movie to come to Disney+, or is it due to overall lack of interest? If it is lack of interest, then is it going to be a driving force at all on Disney+? Remember, The Walt Disney Company is in major trouble if Disney+ subscriptions remain nearly flat in the current quarter. That would surely send stock prices tumbling.
So will we soon see Jason Reitman and Gil Kenan penning an additional Ghostbusters movie? That seems unlikely, but not due to success. Rather, it seems that Sony’s play is to bring them on board as producers and consultants, while handing the franchise off to a new team. That’s only because Reitman has expressed interest in doing a single Ghostbusters movie that was true to his style and desire. But pay attention to what Sony is doing here: the media narrative might not be in Ghostbusters Afterlife’s favor, but the company is making sure to reward those who delivered the film for them. Sony surely isn’t looking to reward losers; they’re locking in a team that just handed them a big success during the pandemic.
I don’t know if that means Bill Murray, Dan Akroyd, and Ernie Hudson are going to be suiting up again. That’s probably up to Murray totally. But the world seems ready to welcome them back to the big screen, along with Mckenna Grace and the gang, if the script is up to par.
While Sony seems to have found what fans want, Disney will continue to search for a way to be successful at the cinema and grow Disney+ simultaneously. In the past year, they have not yet figured it out.
