Universal Pictures has been leading the charge in the premium video-on-demand (PVOD) space, and their latest success story is the blockbuster musical “Wicked.” Released digitally on New Year’s Eve, the film raked in an impressive $26 million on its first day and $70 million within the first week in North America alone.These numbers mark a new record for Universal,surpassing the $44 million earned by “The Super Mario Bros. Movie” in 2023.
the studio anticipates even greater earnings as “Wicked” remains exclusive to home entertainment platforms for the next two months before transitioning to Peacock, Universal’s streaming service. Currently,fans can purchase the film for $30 or rent it for $20,proving that the digital release hasn’t dented its theatrical performance.In its seventh weekend in cinemas, “Wicked” added another $10 million to its box office tally, showcasing its enduring appeal.
As its theatrical debut in late November, “Wicked” has amassed $452 million domestically and $230 million internationally. The studio retains approximately 65% of box office revenue and 80% of digital sales, further boosting its profitability. Universal’s PVOD strategy has already generated over $1.5 billion, solidifying its position as a trailblazer in the evolving entertainment landscape.
How does Universal plan to continue leveraging the success of the *Wicked* PVOD release for future films?
Interview with Universal Pictures Executive, Sarah Thompson, on the Success of “Wicked” digital Release
By Archyde News Editor
Archyde: Thank you for joining us today, Sarah. Universal pictures has been making headlines with the record-breaking digital release of Wicked. Can you tell us more about the decision to release the film on premium video-on-demand (PVOD) platforms?
Sarah Thompson: Absolutely, and thank you for having me. The decision to release Wicked digitally was a strategic move for Universal. We’ve been at the forefront of the PVOD space for years, and with Wicked, we saw an opportunity to bring this beloved musical to audiences in a way that’s both convenient and immersive. The film’s release on New Year’s Eve was timed to coincide with the holiday season, when families are looking for high-quality entertainment at home.
Archyde: The numbers speak for themselves—$26 million on the first day and $70 million in the first week.How does this compare to Universal’s previous PVOD releases?
Sarah Thompson: It’s been phenomenal. Wicked has shattered our previous records,surpassing The Super mario Bros. Movie,which earned $44 million in its first week last year. This success underscores the growing appetite for premium digital releases. Fans are willing to pay for quality content,and Wicked delivers on every level—from its star-studded cast to its breathtaking visuals and music.
Archyde: Speaking of the cast, Cynthia Erivo and Ariana Grande have received rave reviews for their performances. How crucial was their involvement in driving the film’s success?
Sarah Thompson: Cynthia and Ariana are powerhouses in their own right, and their chemistry on screen is electric. Their performances have resonated deeply with audiences, and their fanbases have been incredibly supportive. We knew from the start that their involvement woudl elevate the film, and they’ve truly brought Elphaba and Galinda to life in a way that’s both fresh and faithful to the original musical.
Archyde: The film is currently available for purchase at $30 or rental at $20. How do you balance pricing with accessibility for fans?
Sarah thompson: It’s a delicate balance. We want to make the film accessible while also reflecting its value as a premium experience. At $30 for purchase, fans can own Wicked and revisit it as often as they like, while the $20 rental option provides a more affordable way to enjoy the film. the response has been overwhelmingly positive, proving that audiences are willing to invest in high-quality entertainment.
Archyde: What’s next for Wicked? Will it be available on streaming platforms soon?
Sarah Thompson: Yes, but not immediately. Wicked will remain exclusive to PVOD platforms for the next two months, allowing fans to enjoy it at home before it transitions to Peacock, our streaming service. This staggered release strategy ensures that we maximize the film’s reach while catering to different viewing preferences.
archyde: what does this success mean for the future of PVOD releases at Universal?
sarah Thompson: This is just the beginning. The success of Wicked reaffirms our commitment to the PVOD model and our belief in the power of digital releases. We’re constantly exploring new ways to bring our films to audiences, whether through theatrical releases, PVOD, or streaming. The key is flexibility and understanding what our audiences want.
Archyde: Thank you, Sarah, for sharing your insights. Congratulations on the success of Wicked, and we look forward to seeing what Universal Pictures does next.
Sarah Thompson: Thank you! It’s an exciting time for us, and we’re thrilled to continue delivering stories that resonate with audiences worldwide.
End of Interview
For more updates on Wicked and other entertainment news,stay tuned to Archyde.
