In the competitive world of theatrical adaptations, *Wicked*, the blockbuster Broadway musical, has carved out an impressive niche. As of its opening week on Premium Video on Demand (VOD), it has spectacularly grossed $70 million, setting a record for the highest earnings in the first seven days for any Broadway musical movie. This successful debut was reported by Universal Pictures shortly after the film was made available for home viewing on December 31.
The momentum started strong, with an astonishing $26 million in Premium Electronic Sell-Through (EST) and Premium VOD sales on its very first day. This phenomenal figure marks it not just as a high watermark for *Wicked*, but also a significant achievement for Universal, establishing a new benchmark for all their theatrical releases with a premium format. In comparison, this day one result is double that of the studio’s previous record holder, *Super Mario Bros Movie*, illustrating a shift in audience preferences and consumption patterns.
The Impact of the Release Strategy
The success of *Wicked* can be attributed not only to its star-studded cast, featuring talents such as Cynthia Erivo and Ariana Grande, but also to its meticulously crafted release strategy. With a traditional 40-day theatrical window before its availability on VOD, Universal strategically decided to extend this period with a New Year’s Eve launch. This deliberate timing converted *Wicked* into a family-friendly event that coincided with holiday celebrations, augmenting audience interest and driving strong word of mouth marketing.
The decision to postpone the VOD debut by a week in order to leverage the holiday season demonstrates a keen understanding of market dynamics. An earlier launch could have rushed the sales potential, while a New Year’s event successfully cultivated excitement. Their marketing approach, which included extensive promotions on social media, digital platforms, and traditional advertisements such as a Rose Parade float, contributed significantly to its visibility.
Potential for Continued Growth
Looking ahead, *Wicked* is not just resting on its initial success. With approximately 2.5 months left in its exclusive premium home entertainment window, there remains a strong potential for increased sales. Historically, films with successful launches tend to experience a delayed surge in demand as word of mouth takes effect, suggesting that *Wicked* could continue to break records well into its VOD run.
Previous benchmarks by Universal indicate that their largest initial week for PVOD prior to *Wicked* was $44 million, which the musical has easily outstripped. This positions *Wicked* not only as a commercial triumph but also as a game changer in the promotional landscape of premium movie releases. As the film heads towards its eventual streaming premiere on Peacock, its current performance lays a promising foundation for ongoing revenue.
*Wicked’s* groundbreaking success extends beyond box office numbers; it indicates a substantial shift in how audiences are engaging with musical cinema. With strategic marketing, a well-timed release, and a keen embrace of both theatrical and home viewing formats, *Wicked* is poised to redefine the landscape of premium video on demand offerings.