By Of all the major studios, Universal Pictures has been the one most aggressively pursuing the PVOD window strategy – and it’s paying big dividends for them.
Marking a rare glimpse into the results of these things, Universal has announced that the release of its uber-popular musical “Wicked” on digital platforms on New Year’s Eve racked up $26 million in first day sales and $70 million in first week sales in North America.
That’s the largest first day and initial week of sales for any Universal theatrical title according to the studio – eclipsing the $44 million from digital rentals and sales that 2023’s “The Super Mario Bros. Movie” pulled in.
Universal adds they expect those numbers to rise considerably higher as the film still has more than two months of exclusivity on home entertainment platforms before it moves over to the Universal-owned streaming service Peacock.
The title is currently available for $30 purchase & $20 rent. The shift to digital has had no real impact on box-office – the title still managed to pull in a further $10 million last weekend in its seventh weekend of release in cinemas despite being available on digital platforms.
“Wicked” has generated $452 million domestically and a further $230 million overseas since launching in theaters in late November. “Wicked” reportedly gets to keep around 65% of box office ticket sales and 80% of digital sales for the title.
Premium video-on-demand sales have reportedly generated more than $1.5 billion to date for Universal.
Source: Variety
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