The first new Pixar movie since ‘Up’ is slated for release in 2019, and it’s the only Pixar film to top $1 billion in worldwide box office earnings.
The Pirates of the Coast, directed by Pete Docter and featuring John Goodman, John C. Reilly, Simon Pegg, James Cromwell and Rebecca Ferguson, is the first Pixar film since ‘Dead Men Tell ‘Tales’ to surpass $1bn in worldwide earnings, according to Deadline.
The film, which was written by Pixar animation legend John Lasseter, will also have a new trailer.
The Disney-Pixar studio’s latest financial results were announced Wednesday morning, and they showed a healthy growth in both profits and share of the worldwide box-office market.
The studio has reported an 8% rise in its earnings, with revenue up 11% and profit up 12%.
The film is also on track to gross $1.3 billion worldwide, up from $859 million a year ago.
Disney also said that it’s adding two more live-action movies to its roster, this time from Universal Pictures, and a sequel to the ‘Avatar’ movie is in the works.
The company also reported a $2 billion profit in the first quarter, a number that would make it the largest movie studio in the world for the first time ever.
That’s in line with Wall Street expectations, but there’s more to come, with the studio expecting another $2.8 billion in revenues for the year, which would make 2019 the year it’s going to post the most profit in company history.
It’s worth noting that ‘Pirate of the Crown’ is Disney’s biggest ever release and is expected to gross nearly $100 million worldwide.
It will make its way into Disney’s 2018 box office tally at No. 1.
The $1billion gross figure for ‘Piracy of the Cove’ was made up of $1,051 million of its domestic box office, $1 million from overseas, $500,000 from licensing deals and $1m from a theatrical run.
Disney did not release figures for overseas sales.
Disney’s revenue was up slightly in 2018, but not as much as in 2019.
The company earned $2,638 million for the fiscal year, compared to $2 million for 2019.
In the second quarter, the company reported a net loss of $3.6 billion, with a loss of 1.4 cents per share, according the Hollywood Reporter.
Disney has posted its third consecutive quarter of operating loss in the last two years.
It’s the company’s fourth consecutive quarter with a decline in operating income.
The new release, which is directed by Tom Hooper, will begin rolling out on May 14, 2019.
It should be able to surpass the previous record-setting opening, which came in 2015.
It will likely come in at No, 2 in the 2018 box- office chart, behind ‘Up,’ ‘Captain America: Civil War’ and ‘Zootopia,’ which is expected in May 2019.
The 2018 box title was Pixar’s biggest yet, but it’s a bit more expensive than ‘Up.’
It will cost $50 million to produce and cost about $3 million per picture, the same as ‘Up, which earned $50.5 million.
It also has a much lower production budget, which may not work in a market like China.
Pixarray is targeting a worldwide opening of around $1 to $1 1/2 billion.