Yeah its still in theaters but with it going in the week 4 it means that the studio makes less money from ticket sales. Usually with a huge company like Disney they will get 100% of ticket revenue for the first two weeks of release then that amount reduces as time passes to 50% then down to 25%. So it depends on when it passes the $500 million market yield will diminish how much the studio receives meaning the movie that under performed in its opening 2 weeks will have to make even more to recuperate cost. Residual equity also has to be accounted for. Even though Disney is a multi billion dollar company they use investors like the Vanguard Group and Blackrock to fund production. The same is done in other multi million dollar industries like oil and gas. These residual investors expect a return on their investment, if they invest one dollar and then get that dollar back its a net zero return. Which is not good as an investor considers anything under a 20% residual a failure. So TLM needs to make in the High 500 million to low 600 million to even start making money for the studio. Now Disney will most likely "pay" its streaming service around 100 million to have it on its service which on paper will be revenue and will make it an artificial investment success. This is basically moving money from one pocket to the other for accounting to artificially boost the investment outlook. So yes in the end it will look like success but in actuality it is on the road to be an investment fail. Listen in on Disney's quarterly reports as shareholders and investors have voiced their concern over how sustainable this practice is and the doubts of the market success of future projects.
It is going to have to lose screens with all of the up coming movies that are guaranteed a set number of screens. The number of screens TLM has to diminish to make room for the addition of new movies coming out. That is how it goes this time of year as it is the most completive for screen space. If the TLM were still at the number one sport and the and the ticket sells didn't diminish over 60% and there were not a slew of big name movies coming up then yeah it could retain a large market share. But, with those factors it would not be surprising to see a reduction of screen space of 30% or more in the next few weeks.
Don't confuse saying that the movie is a investment failure to it being a "disaster". Even though the theatrical release of the movie is sub-par Disney does notice an after market value to the propriety. Right now the most popular doll sold in North America is the Ariel movie tie in doll. This indicates that the propriety has value outside the movie so an animated series that is less expensive to produce that can be used to market more toys and products is completely logical. The after market value is still yet to be determined but indicators as for now show that it is strong so for the foreseeable future yes Ariel will be black.
Internationally is not too tricky for the movie industry. To me it was not surprising that movies like the Fast franchise do well outside the US and ones like The Little Mermaid don't. Action is easy to translate. Driving a car fast and explosions are the same in Montana as it is in Malaysia. Where as The Little Mermaid is slow paced and is relying heavy on nostalgia to fill seats. Race is not the wholly reason for the low reception of the movie internationally and most likely the biggest issue is a cultural disconnect with the audience abroad.
One thing that Disney is doing that is head scratching is releasing three high budget movies TLM: 250+ mil, Elemental: 200+ mil, and Indiana Jones 5: 300+ mil (not counting marketing) in such a short span of time. This has the company competing with itself over market share in an economy that has less induvial disposable income. That means that the combined amount that Disney need to make from all of its summer movies to break even is almost 2 billion dollars in one of the most completive times with budget minded consumers.