“Wicked” is “very very popular” — on the big screen, and now on video-on-demand.
In a rare display of transparency for downstream revenues, Universal reported the big-budget musical has racked up $26 million in its first day and $70 million in its first week of digital release in the United States and Canada.
According to the studio, the Broadway adaptation delivered the largest first day and initial week of sales for any Universal theatrical title.
For comparison, the studio’s second-largest video-on-demand (VOD) launch was 2023’s “The Super Mario Bros. Movie,” with $44 million from its first week of digital rentals and sales.
To wit: “Wicked” brought in another $10 million domestically in its eighth weekend on the big screen despite being available to buy or rent at home.
On the big screen and now available on video-on-demand, “Wicked” is “incredibly popular.”. Universal revealed that the high-profile musical made $26 million on its first day and $70 million in its first week of digital release in the US and Canada, marking a rare instance of transparency for downstream revenues.
On home entertainment, “Wicked” made its debut in December. The original or sing-along version of the movie is available for $30 to purchase and $20 to rent. The Broadway version sold the most on its first day and in its first week of release of any Universal theatrical production, the studio claims. In contrast, the studio’s second-biggest VOD release was “The Super Mario Bros.” in 2023. movie,” generating $44 million from sales and rentals of digital copies in its first week.
Universal also anticipates that the wealth associated with Oz will continue to grow: “Wicked” will remain exclusive on home entertainment platforms for over two months before the song-and-dance extravaganza is made available on Peacock, the streaming service owned by NBCUniversal, the film’s parent company. Next up is “Wicked: For Good,” which follows the second act of the Broadway production and hits theaters in November, a year after the original. 20.
Since its November theatrical release, “Wicked: Part One” has already brought in $682 million worldwide. 21. While reporting on box office receipts is standard practice, downstream revenues such as premium VOD are either rarely disclosed to the public or are disclosed in a way that is highly aggressive.
Following widespread experimentation in the early days of COVID, Hollywood studios have acknowledged that a theatrical release is essential for bringing a movie into the public consciousness and increasing ancillary revenues like PVOD. For example, Universal executives have openly stated that they see premium video-on-demand as an addition to theaters rather than a substitute for them. For example, even though “Wicked” was available for purchase or rental at home, it earned an additional $10 million domestically in its eighth weekend on the big screen. However, media companies keep about 80% of online revenues, whereas they only keep about 50% of box office receipts, which makes digital platforms attractive. Knowledgeable sources claim that the studio kept about 65% of the box office ticket sales from “Wicked.”.
Of the traditional film studios, Universal has been the most active in experimenting with the theatrical window and figuring out how to maximize a film’s time on the big screen before releasing it for home entertainment. In March 2020, the studio defied industry convention by choosing to simultaneously release “Trolls World Tour” on digital platforms and in theaters (although at that time, only drive-in theaters were open). Universal estimated that five million people rented “Trolls World Tour” during its first few weeks, during the height of COVID-related lockdown measures, bringing in about $100 million in revenue. Since then, Universal has agreed to give smaller films about 17 days of big screen exclusivity and tentpole films five weekends of release (75 to 90 days of theatrical exclusivity were typical before the pandemic). To date, premium video-on-demand sales have brought in over $1.05 billion. The studio can also save money on marketing by making the switch to the small screen more quickly.
