The live-action remake of “The Little Mermaid” did well domestically during the Memorial Day weekend, but its performance in international markets has been disappointing.
Despite its commercial success in the US and Canada, earning between $300 million and $350 million, the film has struggled abroad, grossing only $260 million, including in China and South Korea.
#TheLittleMermaid tanks in both China and South Korea amid a racist backlash over the casting of #HalleBailey in the role of Ariel #THRNews pic.twitter.com/J0A1ZFGxL1
— The Hollywood Reporter (@THR) June 6, 2023
The movie’s global marketing budget was $140 million, making its underperformance even more significant. If “The Little Mermaid’s” global earnings are less than the low $400 million range, it will result in a loss of around $20 million.
Unlike other Disney movies that rely heavily on international box office revenues, such as “Aladdin” in 2019, which earned $1.05 billion worldwide, “The Little Mermaid’s” international earnings have been lackluster.
The film’s poor performance in foreign markets might be attributed to the casting of a Black actress as Ariel, a change from the traditionally depicted white mermaid with red hair, The Hollywood Reporter tweeted.
It has been noted by critics that movies featuring Black actors have had successful box office performances in China and South Korea. For instance, “Black Panther,” a Marvel and Disney production, grossed over $100 million in China and over $40 million in South Korea.
“The Little Mermaid’s” would need global box office earnings of $560 million resulting in a net profit of $71 million after accounting for participations and residuals to break in, Deadline reported.
The need to generate more than half a billion in revenue comes from the movie’s combined production, global theatrical, and home entertainment marketing expenses, amounting to $476 million.
The movie’s revenue breakdown includes $267 million in global theatrical film rentals, $100 million in domestic pay/free TV, $100 million in revenue from Disney+ streaming, $80 million in global home entertainment (DVD, digital), and $80 million in international TV and streaming.
And with the release of another Black protagonist movie, Sony Animation’s “Spider-Man: Across the Spider-Verse,” “The Little Mermaid” faces competition as the Spidey movie is expected to earn between $80 million and $90 million in the U.S. and Canada.
However, it is not expected to negatively impact “The Little Mermaid’s” earnings. The second weekend hold for “The Little Mermaid” is expected to be around $40 million, a 58 percent decrease. In comparison, “Aladdin” had a second weekend of $44.9 million, a 53 percent decrease, and earned a total of $355.5 million domestically.
