The recent release of the film adaptation of the hit Broadway musical “Wicked” has shattered records in the realm of Premium Video On Demand (PVOD). Notably, Universal Pictures, the studio behind the musical’s transition to film, reported an astonishing $70 million generated in just the first week after its home release on December 31. This remarkable achievement fulfills the high expectations set by viewers eagerly anticipating the film’s availability at home, showcasing the immense appeal of the story and its stars, Cynthia Erivo and Ariana Grande.
In a phenomenal debut, “Wicked” accrued a jaw-dropping $26 million on its first day alone through Premium Electronic Sell-Through (EST) and VOD sales. This figure not only signifies the largest single-day earnings for any theatrical title converted to premium release by Universal but also highlights the film’s advantage over other major titles. For context, the previous record-holder, “Super Mario Bros Movie,” yielded almost half that amount on its first day, showcasing “Wicked’s” unique position in the market. This impressive start positioned the film as a trailblazer in the VOD space, redefining expectations for theatrical to VOD conversions.
Universal’s decision to delay the PVOD release for “Wicked” for an additional week paid off handsomely. By timing the film’s launch as a New Year’s Eve event, the studio successfully catered to families looking for entertainment options during the festive season. This calculated delay not only aligned with holiday viewing habits, but also generated substantial buzz through various promotional efforts, utilizing social media platforms, digital marketing, and traditional TV advertisements, including a float in the iconic Rose Parade. The hybrid release strategy appeared to capture the audience’s attention, enhancing the film’s visibility just as families gathered to celebrate the New Year.
As “Wicked” continues its impressive trajectory, industry analysts are keenly observing its future sales potential. Following its record-breaking first week, it stands to benefit from an exclusive premium home entertainment window that will last another couple of months before it transitions to NBCUniversal’s Peacock streaming service. This extended window presents ample opportunity for further sales growth, reinforcing the notion that “Wicked” is not just a temporary sensation but a lasting presence in the market.
The movie’s astronomical earnings reflect more than just commercial success; they underscore “Wicked’s” status as a cultural phenomenon. The musical’s capacity to attract a diverse audience, coupled with the star power of its leads, has resonated with viewers across generations. The enthusiasm surrounding its release highlights a significant appetite for Broadway adaptations, suggesting a promising future for similar projects. As the early sales figures demonstrate, audiences are willing to invest in high-quality entertainment from the comfort of their homes, ensuring that “Wicked’s” legacy will continue to thrive in both the theater and home viewing landscapes.