Streaming & Box Office battle: Tom & Jerry (Warner Bros.) vs Raya the Last Dragon (Disney)

Discussion in 'Internet Streaming Services' started by techguy88, Mar 1, 2021.

  1. techguy88

    techguy88 Well-Known Member

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    The Streaming Wars has now arrived at the Box Office. Not only will Warner Bros. & Disney battle it out for which film does better at the box office they go head to head in the streaming world as well.

    The industry is waiting to see if WarnerMedia says anything about the performance of Tom & Jerry's debut on HBO Max but at the box office it has done extremely well for a pandemic release getting $14.1 million from 3 days. It's biggest day was Saturday at $6.1 million with Friday & Sunday at $4 million each. Sunday performed higher than expected.

    That's enough cash to make it the second best 3-day opening during the pandemic behind Wander Woman 1984.

    So far it is expected Raya should have a high debut as well especially since it is releasing the same day as NYC theaters can reopen on March 5. However Cinemark (the #3 chain) will not be playing Raya which means it will potentially have less theaters than Tom & Jerry domestically.

    Box office results from The Numbers for the weekend February 26-28, 2021:
    BO 226.png

    The only other new film debuting in theaters this week was Crisis which missed out on the Top 10 with $167K debut.
     
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  2. techguy88

    techguy88 Well-Known Member

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    Weekend estimates should be available later today however it seems on the Box Office front Warners will most likely get a win over Disney.

    Cinemark and Harkins in the United States along with Cineplex in Canada decided not to book Raya and the Last Dragon due to Disney having a "take it or leave it" approach in regards for the rental terms to show the film. Warner Bros. on the other hand has been negotiating with theatre chains for their films since Wonder Woman 1984 on their rental terms taking the HBO Max same day window into account. Explains why the theatres have been giving Warner Bros/HBO Max movies big wide releases so far. Cinemark confirmed on Twitter it will show Legendary/Warner Bros' Godzilla vs Kong on March 31.

    These are the terms Disney reportedly wanted for Raya:
    When Mulan was released via Premier Access Disney only had to share a cut of each transaction if it was made through Apple, Google, Amazon or Roku (typically around 20% - 30% depending on platform.) Premier Access purchased directly through Disney means they get 100% of the upcharge. It is worth noting that Universal shares a percentage of their Premium VOD revenue with AMC Theatres & Cinemark in an agreement to shorten their theatrical window.

    Initially Raya was estimated to gross $3 million on Friday, March 5 however when Disney reported its Friday numbers it actually made $2.5 million. In contrast Tom & Jerry had an impressive $4 million gross on Friday, February 26.

    Ultimately Raya is estimated to have a $8 million 3-day opening weekend falling behind Universal's The Croods: A New Age which had $9.7 million and Warner Bros. Tom & Jerry which had a pandemic impressive $14.1 million opening weekend. The dip is even more noticeable when you take into account Cinemark & Harkins do not operate theaters in NYC plus NYC theaters were closed during Tom & Jerry's opening weekend. Tom & Jerry is still expected to keep the top spot for widest release increasing its theater count to 2,563 locations. It is expected to have a 52% declined in its second weekend and gross $6.75 million.

    It seems a combination of theaters declining to show Raya in addition to its Premier Access release is impacting the box office numbers more than what was initially projected. Given the unexpected success of Tom & Jerry at the box office AT&T's Q1 2021 earnings call on April 22 should be interesting in terms of HBO Max growth.
     
  3. techguy88

    techguy88 Well-Known Member

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    Mar 19, 2015
    Weekend Box Office estimates from Deadline. Weekend March 5-7, 2021:
    BO 35.png
    Films Land, Nomadland and Tom Hanks' News of the World fell out of the Top 10 this week. First weekend that The Croods: A New Age fell below $1 million.

    While Raya was #1 this week it failed to beat Tom & Jerry's opening weekend debut of $14.1 million. It even failed to meet The Croods: A New Age's $9.7 million 3-day weekend opening during Thanksgiving. Deadline largely attributes the less than stellar debut for Raya to the fact Cinemark & Harkins in the United States and Cineplex in Canada were unable to reach a deal with Disney to book the film.

    Over on the international front Raya grossed $17.6 million with $8.4 million from China and $2.8 million from Russia. In comparison Tom & Jerry's international opening weekend grossed $25.1 million with $12.3 million from China and $3.3 million from Russia.

    Hard to gauge the impact of Disney+ with Premier Access and HBO Max on Raya the Last Dragon and Tom & Jerry respectively since studios don't release figures. Based on the numbers I would say Premier Access + some chains choosing to not show Raya are hurting its box office. Tom & Jerry on the other hand appear to be unfazed by HBO Max.
     
    Last edited: Mar 8, 2021

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