Pixar, once synonymous with original animated blockbusters, is now grappling with a significant shift in audience preferences, as its new films struggle to gain traction at the box office.
The latest original, "Elio," is projected for a soft $18 million to $25 million opening weekend against a substantial $150 million to $200 million budget. This trend mirrors the initial underperformance of "Elemental," which eventually recovered through strong word-of-mouth.
Across the animation industry, audiences are increasingly gravitating towards established intellectual property, with sequels like "Inside Out 2" ($1.7 billion), "Despicable Me 4" ($969.6 million), and "Moana 2" ($1 billion) achieving massive success. The pandemic's impact, including a shift to streaming for animated releases, further conditioned families to consume content at home, affecting theatrical attendance.
Despite these challenges, Pixar remains committed to a strategy of releasing one original film for every sequel, recognizing the long-term value these properties bring to Disney's broader ecosystem, including Disney+ and theme parks, beyond immediate box office returns.
