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Disney’s $180 million animated film fails at the box office due to a change in CEO

A new Disney film dropped to $4.2 million on Wednesday, but “Black Panther: Wakanda Forever” remained at the top of the box office over the Thanksgiving holiday, earning $63 million in five days.

Even though the animated film “Strange World” had a budget of $180 million, the film only made $24 million in five days.

The falling box office results of Disney’s “Strange World” comes closely following the declaration of Bob Iger returning as CEO of the Walt Disney Company after under a year in retirement.

Sunday night, the board of the company made the shocking announcement that Iger would be returning and that Bob Chapek, who would succeed Iger in 2020, had resigned from his position.

“The Board has concluded that as Disney embarks on an increasingly complex period of industry transformation, Bob Iger is uniquely situated to lead the Company through this pivotal period,” board Chair Susan Arnold said in a statement.

In contrast, “Strange World” is regarded as performing poorly in comparison to other Disney animated films, such as “Encanto,” a popular family film.

According to the media outlet, “Encanto” earned $40.3 million in 2021 during the Thanksgiving holiday.

“Strange World” follows a family of explorers on a crucial mission into turbulent territory where their differences put them in danger.

Jake Gyllenhaal, Dennis Quaid, and Lucy Liu are among the star-studded cast, which is directed by Don Hall and composed by Henry Jackman.

“Devotion,” an inspirational drama about two US Navy fighter pilots, was another recently released film that did well at the box office over the Thanksgiving holiday. It was produced by Sony and Black Label Media and made $1.8 million.

The Steven Spielberg-directed “The Fabelmans” is expected to make about $3 million over the holiday, while Warner Bros. and DC’s “Black Adam” is expected to make $4 million.

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