Frozen was an absolute smash hit for Disney. It grossed a whopping US$1.27 billion (£850 million; RM4.7 billion) in global ticket sales, beating another Disney/Pixar animated film – Toy Story 3 – which grossed US$1.063 billion in 2010. Instantly, Frozen becomes the highest grossing animated film ever. But there’s more. While Toy Story required a budget of US$200 million, Frozen burnt a smaller hole of about US$150 million only.
The film is so successful that almost every single child who have watched it would know the song dearly – Let It Go. But it would be a dumb decision for Disney shareholders to just let it go. Last quarter, operating profit at Disney’s consumer products division jumped 46%, in part thanks to Frozen–related merchandise. Disney CFO Jay Rasulo admitted that the company simply cannot underestimate the impact that Frozen has had across Disney businesses.
Hence, Disney has just announced the making of “Frozen 2” – Yay!!! The good news was announced during the Walt Disney Co.’s annual shareholders meeting on Thursday from San Francisco. Although a release date and production details are yet to be announced, Disney shares immediately jumps 4.2% to close at an all-time high after the official confirmation. That speaks volumes about the influence of Frozen on Disney.
The news of a “Frozen” sequel comes hours before short film “Frozen Fever” opens for Disney’s live-action “Cinderella” movie. Hold a second, what does Frozen got to do with Cinderella? Well, apparently, speculation has it that Cinderella could be a flop, hence the need for a boost from Frozen to attract fans who couldn’t get enough of Elsa, Anna, Kristoff and of course, the magical snowman Olaf.
Frozen Fever, as the name suggests, acts as a temporary dosage for Frozen addicts, while waiting for the “Frozen 2” confirmation from Disney (which is happening now). In this seven minute mini adventure in Arendelle, Elsa (Idina Menzel), Kristoff (Jonathan Groff) and magical snowman Olaf (Josh Gad) prepare a surprise party for birthday girl Anna (Kristen Bell) – all while Elsa is catching a nasty cold.
The first film’s directors Jennifer Lee and Chris Buck are back for Frozen 2, and are developing the project together with producer Peter Del Vecho. Although Disney excitedly claims that Jennifer and Chris have come up with a great idea for the sequel, the expectation from the audience is obviously high. Could Frozen 2 break another profit record for Disney? Or would it flop and officially let it go?
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March 13th, 2015 by financetwitter
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