HomeEntertainmentMoviesDisney's $180M animated movie bombs at box office amid CEO shake-up

Disney’s $180M animated movie bombs at box office amid CEO shake-up

While “Black Panther: Wakanda Forever” remained at the top of the list theater box office over the Thanksgiving holiday — earning $63 million over five days — a new Disney movie tanked $4.2 million on Wednesday.

The animated film “Strange World” had a budget of $ 180 million, while the disappointing results – over a period of five days – only amounted to $ 24 million, according to Variety.

The plummeting box office results of Disney’s “Strange World” comes on the heels of the announcement that Bob Iger is returning as CEO of the Walt Disney Company after less than a year of retirement.

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The company’s board of directors announced Iger’s shock return on Sunday evening, saying that Bob Chapek, who succeeded Iger in 2020, was stepping down from his position.

This image released by Disney shows a scene from the animated film ‘Strange World’. (Disney via AP) (AP / AP Images)

“The board has concluded that as Disney embarks on an increasingly complex period of industry transformation, Bob Iger is uniquely positioned to lead the company through this critical period,” said board chairman Susan Arnold in a statement.

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Disney Bob Iger

The plummeting box office results of Disney’s “Strange World” follow the announcement that Bob Iger is returning as CEO of the Walt Disney Company after less than a year of retirement. (Photo by Charley Gallay/Getty Images for Disney / Getty Images)

Meanwhile, “Strange World” is believed to rate poorly when compared to other Disney animated films, such as the hit family movie “Encanto”.

Disney logo on the NYSE

The company’s board of directors announced Iger’s shock return and said Bob Chapek, who succeeded Iger in 2020, was stepping down from his position. (Reuters/Brendan McDermid/Reuters Photos)

In 2021 during the Thanksgiving holiday, “Encanto” took in $40.3 million, according to the media outlet.

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“Strange World” follows a family of explorers whose disagreements endanger them on a critical mission in tumultuous territory.

Directed by Don Hall and composed by Henry Jackman, the star-studded cast includes Jake Gyllenhaal, Dennis Quaid and Lucy Liu.

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Other newly released movies that scored at the box office during the Thanksgiving holiday is “Devotion” from Sony and Black Label Media, an inspirational drama centered on two US Navy fighter pilots, which grossed $1.8 million.

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“The Fabelmans,” directed by Steven Spielberg, is expected to make about $3 million, while Warner Bros.’s “Black Adam.” and DC is expected to bring in $4 million over the holidays.

Landon Mion of FOX Business contributed to this report.

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