Thankfully, there was also Disney+.
Recently, Disney, who hoped to save the Market in the Chinese market of "Mulan", turned over the car.
As of September 18, according to Maoyan Professional Edition, the film has a box office of 207 million in the 8 days of release in the mainland, and the mainland box office is predicted to be 266 million; on Douban, the opening score is 5.9 points, falling to 4.9 points in less than 24 hours, and the current 170,000 users have scored 4.9, which is far from the reputation of the original animation film (7.8 points).
From the perspective of the global market, due to the impact of the epidemic, many Disney movies have been withdrawn and transferred to the network: for example, "Mulan" has launched Disney+in the United States, and the Marvel movie "Black Widow" has been withdrawn. Many Disney theme parks built by sitting on IP and relying on classic scenes and characters in animations or movies have also been forced to suspend business.
Last month, Disney reported a fiscal third quarter of fiscal 2020, losing $4.72 billion (nearly 33 billion yuan). Disney's Chinese market is also somewhat embarrassing, although the first to resume the amusement park business, but the "most expensive" princess "Mulan" word of mouth box office double collapse, while the "Disney English" training business that entered the Chinese market in 2008 also lost China.
After a highlight of more than $11 billion at the global box office in 2019, Mitchhead embarked on a "honmei year" of the hijacking journey in 2020.
<h1 class = "pgc-h-arrow-right" > a huge loss of 33 billion, and the "princess on the run" is not OK</h1>
According to data released by Disney, Disney's revenue in the third quarter of fiscal 2020 (April-June) was $11.78 billion, down 42% year-on-year; net loss was $4.72 billion (nearly 33 billion yuan). Compared with the net profit of $1.430 billion in the same period last year, the shutdown of offline entertainment venues caused by the epidemic has caused Disney's revenue to plummet.
2017-2020 Disney Segment Revenue (Source: CNBC)
According to Disney, the loss in the quarter was largely due to expenses related to the previous acquisition of Twenty-First Century Fox, including severance pay, termination of contract fees and integration costs. But also to see that behind the huge losses, there are also closed parks and withdrawn movies.
In the quarter, Disneyland and consumer goods business revenue was only $1 billion, down 85% year-on-year, and down 81% sequentially, the last quarter was in the early stage of the epidemic, the loss was not obvious, but these months completely shut down, directly resulting in a loss of $2 billion in the business. Overall, the pandemic has caused $4.5 billion in damage to Disneyland's business.
At the same time, the closure of cinemas since March has also caused Disney movies to be frequently withdrawn and postponed, and from April to June this year, Disney's entertainment revenue, including film and television, fell by 55%. In addition, Disney's media network business achieved revenue of $6.56 billion, down 2% year-on-year, and operating profit of $3.15 billion, up 48% year-on-year.
For Disney, how important is "Mulan" in the Chinese market?
As a film with an investment of more than $200 million and a cost of nearly 1.4 billion yuan, "Mulan" must record at least $600 million at the global box office to avoid losses. Due to the suspension of multinational cinemas, "Mulan" can only be launched on the streaming platform Disney+ in many regions, and the last hope falls on China, the world's second largest ticket warehouse.
Disney did not expect that due to the preemptive streaming media leading to the outflow of piracy, as well as its own poor quality, low cultural adaptation and other issues, the huge "Mulan" in the Chinese market overturned. Why does "Chinese actors + Chinese stories + top productions" not work in the Chinese market? There is no problem with the model itself, the answer is arrogance and prejudice, and the most fundamental production and position are problematic. (Recommended reading - Movie Report |.) "Mulan" and Disney's Confusing Behavior Awards)
Compared with last year, Disney did have a bit of a "life year" that was not smooth. In the same period last year, Disney released box office blockbusters "Avengers: Endgame" and "Aladdin", of which "Avengers: Endgame" was the highest-grossing film ever, with a global box office revenue of $2.79 billion.
Disney 2019Q3, 2020Q3 Revenue Comparison (Production by Entertainment Front Page)
In 2019, against the backdrop of a 9.4% box office contraction in the North American film market for half a year, Disney broke through the global box office record it had set in less than 8 months. According to Box Office Mojo, as of July 28, 2019, Disney Studios' global box office in 2019 has cumulatively reached $7.67 billion. Just a month after Q3 last year, Disney movies broke their annual box office record of $7.61 billion set in 2016.
It can be said that Disney, which began to attack the city more than a decade ago, finally made Mickey Head appear on the list of annual global box office champions for 5 consecutive years after the merger and acquisition of a number of production companies and IP manufacturers, and its profit accounted for the largest market share ratio among Hollywood film companies.
Changes in Disney's share of the North American film market in 2000-2019 (Source: Statista)
But the sudden outbreak of the epidemic, as well as the slippery slope of the expensive "Mulan", really gave Disney, who was singing all the way, a wake-up call - the era of online entertainment has arrived.
<h1 class="pgc-h-arrow-right" > tout Disney+, streaming to save the market? </h1>
This year, Netflix surpassed Disney's performance in Q1, allowing the value of streaming to be verified again.
Thankfully, Disney also has Disney+.
Disney said that currently, including Disney+, Hulu and ESPN+, the company's streaming service already has 100 million paying users. Disney CEO Bob Chapec said on disney's earnings call that as of Monday, the number of paying users of Disney+ had reached 60.5 million, completing the set target four years ahead of schedule.
In addition, in other markets closed by the epidemic, "Mulan" was switched to Disney+ online paid broadcasting, and Disney+'s US subscribers could watch "Mulan" for $29.99. At the same time, users in Canada, Australia, New Zealand and some Western European countries can also watch this film, the price is slightly different.
This will be Disney's first attempt to sell content on Disney+, both for an additional fee on top of a $6.99 monthly fee. According to Sensor Tower, an APP download research firm, from September 4 (When Mulan hits Disney+), downloads on the Disney+ platform surged by 68 percent, while consumer spending on the platform soared 193 percent. According to analytics firm 7Park Data, as of September 12, nearly 29 percent of all U.S. households that subscribe to Disney+ had purchased the Mulan movie.
Disney+ September user growth (Source: 7Park Data)
It can be seen that this time the transfer of Disney blockbusters has achieved a new effect on the streaming media platform, and the single-piece payment model has also made Disney+'s revenue structure move from a single membership fee to a diversified development, but this attempt is quite expensive.
On September 17, Disney+ released a new promo, including new works such as Marvel's new Drama "Wanda Vision", "Mandalorian (Season 2)", "Cloud", "Snowman's Past" and other new works scheduled to be released this year, as well as old works such as "X-Men 2", "Hidden Figures", "Sleeping Curse", "Eddie the Eagle", and "Grow Up". Although holding a large number of IP such as the Marvel Universe and "Star Wars", Disney+ has an advantage from the perspective of content supply, the international streaming media market has been full of smoke.
Netflix vs. Disney+, Hulu membership (Source: CNBC)
In addition to giant Netflix, after Disney Disney+, Warner's HBO Max, and Universal's Peacock, Paramount, Hollywood's six majors, will also enter the streaming war. According to foreign media reports, ViacomCBS plans to reshape their streaming platform "CBS All Access" to "Paramount+" early next year, and will launch original content such as documentaries focused on the behind-the-scenes production of the movie "The Godfather". The content magic weapons held by each family were comparable to the gods fighting.
The uncertainty of the global epidemic has filled the offline entertainment market with uncertainty, and this decline does not know how long it will continue. For Disney, which has been unfavorable for many years, the "Mulan" that transferred to the network may be a big step taken by Disney+.
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Rotating Editor-in-Chief: Yi Wu
Author: Siberia
Edit: Curry
(Some of the pictures come from the Internet)