The news: Pixar's Elio had the studio's worst opening weekend ever, making only $21 million in the US and $14 million outside of the US. That's a total of $35 million worldwide, which is 30% less than Pixar's own worst-case scenario estimates.
- The performance is a big drop from Pixar's previous low, Elemental, which opened at $30 million and went on to make $496 million worldwide.
- Elio's budget of $150 million means it would need at least $375 million in theaters to break even.
- The global box office is projected to reach $33 billion this year, which would be an 8.2% improvement over last year’s total.
Zooming out: Pixar isn't the only company having trouble succeeding without recognizable IP: Other animated movies, such DreamWorks' “Ruby Gillman: Teenage Kraken” and Illumination's “Migration,” also did poorly at the box office—but their budgets were around half of Elio's.
Compare and contrast: Branded and franchise content is still doing well. This weekend, Universal's live-action remake of “How to Train Your Dragon” made $37 million in its second weekend, making it the top movie at the box office. Sony's 28 Years Later, a sequel to 28 Days Later, made $30 million in the US and $60 million worldwide, breaking the series record.
Our take: Elio's debut, despite getting great reviews and an "A" CinemaScore, shows how hard it is for unique animated movies to do well in theaters without recognizable intellectual property.
- Pixar’s performance shift reflects pandemic-era habits, with audiences now expecting animated films at home—especially from Disney.
- Even with strong audience reception, Elio may struggle to turn a profit theatrically—making streaming and VOD performance increasingly vital.
- Disney remains optimistic, betting on strong exit polls and Elio's emotional themes like identity and wonder to drive word-of-mouth and spark a rebound, much like Elemental did.