The liveaction remake of The Little Mermaid could be the result of a significant financial loss for The Walt Disney Company. Due to the low international collection and box office slump in the second week of exhibition, the film has the potential to cost the studio millions in losses.
The cost of the film, excluding marketing costs, is already over $250 million. According to Box Office Mojo, the film has grossed approximately $327 million worldwide to date.
Of this, $186 million came from the United States and Canada. Meanwhile, the film grossed just $141 million on the international market. Pundits are concerned about the international numbers as the film did relatively well at the domestic box office.
The Asian market could be one of the reasons
According to The Hollywood Reporter, sources close to Disney and box office analysts revealed that the studio was already aware of the challenges The Little Mermaid would face in territories like China and South Korea. However, the negative public reaction took the company by surprise in an unprecedented way.
The casting of a black actress to play Ariel sparked a racial overreaction at these venues, leading to heavy criticism of the film. Even more than usual when Halle Bailey, Ariel’s interpreter, went public to speak about what was going on.
Still, Disney is hoping for at least $260 million in international box office earnings and is aiming for $300 million to $350 million at the domestic box office. However, experts consider this probability to be quite optimistic and would still mean a loss for the studio given the current circumstances.
To avoid this damage, The Little Mermaid revenue would need to reach about $800 million. And all this considering the fact that cinemas usually retain around 50% of the value of each ticket sold.