The cinematic adaptation of the beloved Broadway musical, “Wicked,” has broken new ground as the highest-grossing Broadway musical film to date. Universal Pictures, the studio behind this monumental release, announced that “Wicked” garnered an impressive $70 million during its inaugural week in Premium Video On Demand (PVOD) following its release on December 31. Directed by the talented Jon M. Chu and featuring standout performances from Cynthia Erivo and Ariana Grande, the film is not only a visual treat but also a testament to the enduring popularity of the original stage production.
During its opening day alone, “Wicked” raked in a staggering $26 million in Premium Electronic Sell-Through (EST) and VOD sales, establishing new benchmarks for Universal and the industry at large. This phenomenal Day 1 figure points to a shift in consumer behavior, highlighting audiences’ growing inclination towards immediate access to blockbuster films, especially during the holiday season.
The financial success of “Wicked” is remarkable in its context as it eclipses other substantial releases from Universal. Previous Day 1 champions, such as the “Super Mario Bros Movie,” now seem pale in comparison, with “Wicked” achieving more than twice the revenue of its nearest competitor. Prior to “Wicked,” the highest earnings for the first week of a PVOD release stood at $44 million for another major theatrical release, illustrating the unprecedented nature of this film’s debut.
It is worth noting that “Wicked” had a traditional 40-day theatrical window before its transition to PVOD. Universal typically reveals its larger offerings in home entertainment after five theatrical weekends, which would have aligned with a December 24 release. Instead, the studio opted for a new release strategy that allowed “Wicked” to emerge as a New Year’s Eve treat for families, fostering a strong buzz leading to its home cinema debut.
The success of “Wicked” can be attributed not only to its well-crafted narrative and performances but also to a robust marketing campaign that spanned social media, digital platforms, and television promotion. The strategic announcement on December 26, just days prior to the film’s release, played a crucial role in generating excitement. A notable highlight included the film’s promotion via a float in the Rose Parade, showcasing the blend of traditional and contemporary marketing techniques.
This meticulous planning and execution demonstrate how essential timing and presentation are within the film industry, particularly when transitioning from theaters to home viewing. This multi-faceted approach has undeniably contributed to “Wicked’s” monumental success during its initial week, setting a precedent for future releases in a rapidly evolving landscape.
Looking ahead, Universal anticipates that “Wicked” will continue to generate significant sales momentum as it enjoys a dedicated PVOD window before transitioning to NBCUniversal’s Peacock streaming service. The film’s success is emblematic of a shifting paradigm in the entertainment industry, where instant access and high-quality productions coexist. As consumers increasingly prioritize convenience and flexibility in their viewing habits, “Wicked” not only breaks records but also paves the way for upcoming releases to follow suit in this new age of home entertainment.