Disney CEO Bob Iger defended the company’s production of 3-D films Thursday after 3-D ticket sales for several recent movies lagged their predecessors.
It’s “way too early to write 3-D’s epitaph,” Iger said at the D: All Things Digital conference. “I think a lot of conclusions are being reached about a business that’s still relatively new.”
Industry experts point out that The Walt Disney Co.’s fourth “Pirates of the Caribbean” movie and the second installment of “Kung Fu Panda,” from DreamWorks Animation SKG Inc., generated around 40 percent of their revenue from 3-D screenings, compared with about 60 percent from earlier films such as “Shrek Forever After” and “How to Train Your Dragon.”
Some analysts trimmed estimates on DreamWorks and 3-D technology company RealD Inc. as a result. Shares of RealD are down about 14 percent since the weekend, DreamWorks shares are down 7 percent and Disney shares are off about 3 percent.
Higher ticket prices and a sense among consumers that 3-D is a gimmick are hurting attendance domestically, an effect that may carry over overseas, where 3-D is still booming.
“We suspect 3-D demand will slow over the coming year overseas as the ‘novelty’ begins to wear off,’ BTIG analyst Richard Greenfield wrote in a research note Tuesday.
Iger said that 3-D technology must be used in the right way or studios risk annoying moviegoers who are asked to pay a few dollars more for tickets.
“(If) people go to a film on the first weekend and pay the premium that they pay for 3-D and come out either not liking film or thinking it wasn’t worth it in 3-D — you can’t hide that any more. Everybody knows it,” he said. “So I think it has to be used carefully. When it’s used it has to be used on the right film and in the right way technologically and creatively. You can’t just ‘If you build it they will come.’ You can’t do that.”
Hollywood has been hurt by a slow start this year with revenues from U.S. and Canadian theaters down 8 percent at $4.02 billion through the Memorial Day long weekend, according to Hollywood.com.
Last weekend, Warner Bros. “The Hangover: Part II” in 2-D debuted at No. 1, hauling in $105.8 million over the long weekend, compared to “Kung Fu Panda 2” in 3-D opening with $62.2 million.
“A Complete Unknown,” “The Brutalist,” “Gladiator II,” “Wicked” Among ADG Excellence in Production Design Award Nominees
The Art Directors Guild (ADG, IATSE Local 800) has unveiled the nominees for its 29th Annual Excellence in Production Design Awards. The ceremony, hosted by actress and comedian Rachael Harris, will take place on Feb. 15, at the InterContinental Los Angeles Downtown.
Among the motion picture nominees are the production designers on A Complete Unknown, The Brutalist, Gladiator II, Nosferatu and Saturday Night in the Period Feature Film category; and Alien: Romulus, Beetlejuice Beetlejuice, Dune: Part Two, Furiosa: A Mad Max Saga and Wicked in the Fantasy Feature Film category.
Television nominations span the likes of Bridgerton, Fallout, House of the Dragon, The Lord of the Rings: Pachinko, Rings of Power, Ripley and Shogun.
The ADG Awards celebrate excellence in production design across theatrical motion pictures, television, commercials, music videos, and animated feature films. The 2025 Cinematic Imagery Award will be presented to Academy Award®-nominated director and filmmaker Jason Reitman, whose body of work includes Juno, Up in the Air and Saturday Night.
“This year’s nominees showcase the incredible artistry and vision that define our craft and our industry. We’re thrilled to bring the Guild together to celebrate the achievements of these incredible production designers and their art departments,” shared award show producers Michael Allen Glover, ADG, and Megan Elizabeth Bell, ADG, in a joint statement.
In addition, the ADG will honor Lisa Frazza, Barbara Mesney, Dan Sweetman, and J. Dennis Washington with Lifetime Achievement Awards. Legendary production designer Carl Jules Weyl will be inducted into the ADG Hall of Fame as part of the... Read More