Disney Headlines for September 20th, 2023
This week in Disney Headlines: hoarders have the last laugh, The Little Mermaid and Elemental win in the end, and Byron Allen does it again.
Now Who’s Laughing?
Photo: Pexel.com
Here’s something you didn’t know about me. I briefly worked at Blockbuster Video.
A car wreck that was totally my fault ended my career as I didn’t show up for work on New Release Day due to the accident.
Photo: Disney
Also, that brand new car was a wedding gift that was maybe three weeks old. Stuff like this is why I rarely mention the 90s.
However, one anecdote I’ve previously mentioned is that I knew someone at the time who collected all the Disney videocassettes.
Creator: Rick Wilking
| Credit: REUTERS
My manager/store owner at Blockbuster viewed everything headed to the Disney Vault as future gold.
The first time he told me, I did everything I could to hide my smile, as I was already aware of the surge of DVDs.
Blockbuster pivoted to DVD slowly since it didn’t want to disrupt its primary revenue stream, VHS tapes.
The company avoided a dire fate that time due to its greed, but the same mistake with Netflix would ultimately doom it.
Blockbuster
My manager embodied that slow-to-react philosophy at Blockbuster, and I swear I’m not saying that because the dude fired me.
He didn’t know I’d had a wreck, and I didn’t have a car to drive to the job the rest of that month anyway.
Photo: skillastics.com
Instead, I find the idea quaint that someone at a future date would pay a lot of money for one of the worst technologies ever, recording on tape.
Unlocking the Disney Vault
Photo: Marketrealist
Throughout the years, I’ve joked about this guy to my friends, as he claimed to have hundreds of the rarest VHS tapes in the Disney Vault.
Today, I’m humbled as that manager whose name I’d already forgotten the following month has emerged victorious.
Photo: Ebay
As long as that individual kept his videocassettes of Disney classics, he’s rich.
That’s not me saying that; it’s USA Today! According to this article, the VCR enthusiast I once knew could earn the following:
- Pinocchio (1993) – $10,000
- Dumbo (1885) – $20,000
- Beauty and The Beast (1992) – $35,000
- 101 Dalmatians (1961) – $9,999.99
- The Lion King (1994) – $3,825
- Aladdin (1992) – $500
Lorcana pack
Now, I’d like to remind you of the same comment I made about Lorcana a couple of weeks ago.
An eBay list price isn’t the same as an eBay completed listing that finished with a bid.
Photo: Washington Post
Just because someone offers a sealed copy of Beauty and the Beast for $8,000 doesn’t mean someone will pay it. But this person did.
In researching this topic, I discovered that old, sealed Disney VHS tapes typically go for a few hundred dollars, sometimes much less.
Photo: Getty
However, a few transactions are in the thousands. So, those of you with some unopened Disney VHS tapes should check your closet.
I do have a question for you, though. Why did you buy but then choose not to open a videocassette? And why did you keep it this long unopened?
Photo: Disney Wiki
Did a lot of people think the Disney Vault would earn them untold riches at a later date? I’m genuinely curious about this.
Disney’s Weak Summer Has a Happy Ending
Photo: CNBC
We all remember the stories earlier this summer. Presumed Disney blockbusters disappointed on multiple occasions.
Two storied examples were the 2023 remake of The Little Mermaid and Elemental.
Photo: Pixar
A certain segment of the internet desperately wanted both titles to fail.
While each one started slowly, neither of them failed in the end, though.
The Little Mermaid has earned $570 million against a $250 million budget.
Photo: DIsney+
Since most of the revenue came from domestic ticket sales, it turned a profit during its theatrical release.
Similarly, Elemental suffered a miserable start, but the underlying quality of the film eventually won out.
Photo: Disney/Pixar
Last month, a Pixar executive indicated that the film had a breakeven point of $450 million; it currently claims $485 million in box office.
Neither of these performances is terrific, but the two titles share one vital trait. They’re very good movies.
Photo: Disney/Pixar
Now that The Little Mermaid and Elemental are available on Disney+, people are noticing, too.
Disney recently released this announcement about the success of The Little Mermaid on Disney+.
Photo: Disney
According to the press release, this film is “the most viewed Disney movie premiere on Disney+ since Hocus Pocus 2, garnering 16 million views in its first five days streaming.”
The Little Mermaid may have competition, though. Elemental debuted on Disney+ on September 13th.
Photo: Computer Hope
Based on the data I’ve tracked this week for my podcast, Elemental has been the most-watched program on Disney+ since its release.
Disney posted about this fact, and Elemental has topped the Disney+ Trending chart during its first five days on the service.
The moral of the story here is that Disney fans want to watch great stories.
Thankfully, Elemental and The Little Mermaid are both excellent!
Bryon Allen Bids Aggressively
Photo: Wikipedia
I had to laugh at something that happened the other day.
For months now, business analysts have breathlessly debated the value of Disney’s legacy media.
Photo:nbjobs.ca
Many Wall Street investors anticipate the day when Disney ditches its Linear Networks division and becomes a digital company in full.
Bob Chapek had driven Disney down that path, but he hit so many potholes and speedbumps that he got fired…and was possibly given a breathalyzer test.
Photo: Patrick T. Fallon/Bloomberg
Now, Disney stands pointing in one direction, but it hasn’t committed yet.
That leap of faith will occur when Disney sells ABC and its other cable channels (except ESPN).
Last week, Nexstar happily offered to buy said assets from Disney.
The current owners of The CW would throw that network in the trash in favor of ABC.
Photo: Nexstar
Nexstar executives foolishly believed that they could have their pick of Disney’s assets.
A Bloomberg Intelligence assessment had suggested that Disney could sell these networks for $4 billion.
(Photo by Kevork Djansezian/Getty Images)
Less than 12 hours later, Byron Allen boldly announced to the world that he’d pay $10 billion for them.
I love that he did this. It’s the equivalent of going to auction and hearing the auctioneer say, “Going once, going twice…”
(Photo by Stefanie Keenan/Getty Images for Allen Media Group / CF Entertainment)
At this moment, Allen bid two-and-a-half times as much. Can you imagine the looks he’d get at the auction for that?
Still, Allen’s business acumen shines through here. He’s scaring off any potential bidders who thought they might get a deal.
Also, Allen has warned Nexstar that they’ll have to up their bid or buy him off. Otherwise, they’re not getting Disney’s linear assets.
That’s an alpha move right there. Will it work? Stay tuned…
Photo: MickeyBlog
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