Key Takeaways
- “Inside Out 2” reached $1 billion at the worldwide box office faster than any other animated film.
- Movie theater attendance overall has declined significantly from pre-pandemic levels.
- Disney has moved to longer theatrical-only windows for its feature films after releasing many on its Disney+ streaming service shortly after their theatrical debuts following the pandemic.
Disney (DIS)-owned Pixar Animation Studios’ “Inside Out 2” has earned $1 billion at the worldwide box office, becoming the first movie to hit that mark since “Barbie” in 2023.
The highly anticipated sequel managed the feat in just 19 days, the fastest an animated film has done so, Disney said. That pace was driven by family audiences, which made up more than 70% of the film’s domestic opening, according to EntTelligence data cited by CNBC.
The film’s success in theaters is a significant achievement, as studios have struggled to drive foot traffic since the pandemic. Before “Inside Out 2,” no Walt Disney Animation Studios or Pixar animated film had grossed more than $480 million since 2019, CNBC said.
Movie Theaters’ Ongoing Struggles
Movie theater attendance has remained below pre-pandemic levels by a large margin. In April, AMC Entertainment (AMC) reported almost 65% fewer visitors to its theaters compared with April 2019, according to data from Placer.ai. Regal Cinemas experienced an even steeper drop, with April visits down by two-thirds over the same month five years ago.
Disney hasn’t helped drive traffic to cinemas in recent years, choosing to quickly release films on its Disney+ streaming service even after theatrical releases resumed following the pandemic. Case in point: “Encanto” was added to Disney+ just one month after its theatrical release in November 2021.
More recently, Disney has opted to bring its feature films to Disney+ roughly three months after their theatrical debut.
Disney shares were down 1.2% to $98.09 as of about 1:30 p.m. ET Monday but have gained 8.7% year-to-date.