“Shang-Chi and the Legend of the Ten Rings” have made its debut the previous weekend which is a roll of the dice for Disney CEO Bob Chapek. It is the first Marvel film to open on the normally anemic Labor Day weekend and its central character, a kung fu master in the mold of ’70s martial arts icon Bruce Lee, is little-known. Its exclusive theatrical release, which Chapek himself called an “interesting experiment,” comes as Covid cases continue to spike.
The film has till now not get any confirmation for distribution in the world’s largest movie market, which has raised the stakes for Chapek. A wiggle room has been built up by Disney with its control of the 80-year-old comic-book publisher that has been written by Stan Lee and illustrated by Jack Kirby which has been put on the map:
The Chinese government has yet to approve the film for distribution in the world’s largest movie market, raising the stakes for Chapek. But Disney has built up quite a bit of wiggle room with its control of the 80-year-old comic-book publisher that writer Stan Lee and illustrator Jack Kirby put on the map: Purchased in 2009 for just $4 billion, Forbes estimates the company is now worth almost $53 billion, or about 16% of Disney’s market value.
Not a bad return on an investment that few said would ever pay off.
“People didn’t fully understand and appreciate the franchise potential of the genre as we did,” says Tom Staggs, Disney’s former chief financial officer who helped lead the acquisition. “We were able to buy it because the industry didn’t totally get it either.”
The former theme park and consumer products executive who has taken over as Ceo last year has taken the value as one of the biggest challenges faced by Chapek. He has already rankled Hollywood by taking on Scarlet Johansson, one of Marvel’s biggest stars over compensation tied to the simultaneous theatrical and streaming release of Black Widow, including the contentious decision to disclose her $20 million salaries for the role. Marvel Cheif Creative Officer Kevin Feige has been ranked reportedly by that strategy, who did not want to see the film downgraded to home streaming.
The filmmakers have faced a different set of challenges by the film named Shang-Chi, which is knocking down the problematic Asian stereotypes in the comic that may explain that why China has not given its confirmation for its release. The performance of Shang-Chi will influence how Disney distributes the next Marvel instalment, Eternals, due out Nov. 5. It may well determine whether the company can adhere to its carefully choreographed schedule of Marvel stories, intended first to debut in theatres, then expanded on TV.
The independent studio that is operating above a Mercedes Benz dealership has a kind of calculated control that has turns a lean into the beating heart of the world’s biggest entertainment company. By Disney’s hand, Twenty-Four titles collectively grossed $21.9 billion making it bigger than Bond, more potent than Potter, and massive compared to The Fast And The Furious.
It is also far better than Star Wars which Disney bought with its $4 billion purchase of Lucasfilm in 2012, delivering box office sales of just $6 billion on the five films it produced. Its $7.4 billion acquisition of Pixar in 2006 also pales, with the 21 Disney-owned films generating ticket sales of $14.4 billion. Marvel, says Comscore media analyst Paul Dergarabedian, is easily the most successful film franchise in history.
Here we present the Marvel by the numbers:-
FILM — Nearly $6 billion
No. 1 Marvel Film: Avengers: Endgame, $2.8 billion
STREAMING — $40 billion+
Most-Watched Marvel Show: Loki
CONSUMER PRODUCTS — About $3 billion
No. 1 Selling Marvel Product: Super Heroes Avengers Iron Man Hall of Armor, $45 price
THEME PARKS — TBD
First Marvel Attraction: Iron Man Experience, Hong Kong Disneyland