Cynthia Erivo and Ariana Grande star as Elphaba and Glinda in Universal's Wicked.
worldwide
Barbie painted the city pink in 2023, and now Wicked is upping the ante by adding a touch of green.
worldwideThe retelling of the hit Broadway musical is generating buzz ahead of its November 22 release with hundreds of merchandise offers from dozens of retail partners. The barrage of green and pink is part of Universal's marketing strategy for the film and could bring a welcome boost to the retail industry just in time for the crucial holiday period.
These “evil” collaborations range from apparel, accessories, shoes, cosmetics and fashion to home decor, toys and even one-of-a-kind cars.
The collections range in price points as well, providing consumers with luxurious and affordable options to show off their love of all things “punk.”
goal and Walmart We have a huge range of products on the shelves, with entire sections of the store dedicated to t-shirts, sweaters and shoes, as well as toys, stuffed animals, books and nail polish.
Lego and Mattel You have brick sets and Barbie dolls associated with the movie; Starbucks He has a range of new cups and mugs, as well as limited-time drinks inspired by the main characters Glinda and Elphaba; Betty Crocker has a “reveal mix” cake mix that turns pink or green when wet ingredients are added.
Toyota's Lexus is even launching two unique versions of the 2024 Lexus TX that feature “villain”-themed wraps.
The Broadway show on which the film is based is one of the most popular and highest-grossing musicals of all time, and already has an established and rabid fan base.
Just at the Gershwin Theater in New York City, more than 14.5 million people have bought tickets to see the show since its launch in 2003, generating more than $1.67 billion in ticket sales, according to Broadway World. These numbers do not include national touring shows or international residencies.
These fans are hungry for merchandise that celebrates and reinforces their fanbase, and they're willing to pay for it, according to Mintel's 2024 “U.S. Distinctive and Passionate Consumers Report.”
The report found that nearly half of “superfans,” the most passionate and dedicated fans, spent money on official events or merchandise in the past year. The report, which surveyed 2,000 US adults, also determined that fandom collaborations and partner releases are most successful among niche fanbases.
That's good for the retail sector, which saw its consumer confidence index fall 7 points in September, the biggest drop in more than three years, to rise 11% in October, the biggest single-month acceleration since March 2021.
Retailers that have partnered with Universal are expected to see an increase in sales of “Wicked” merchandise, which could help them stand out from other companies over the next few months.
What could also drive demand is the fact that these merchandise collaborations are for a limited time only. Once stock runs out, it is unlikely to be replenished. Therefore, even the most price-conscious consumers may be willing to spend in order to get these products before they disappear from shelves.
Movie theaters also offer themed popcorn buckets, drink specials and other merchandise to moviegoers who head to the theaters to see the movie. These retail opportunities could help boost “Wicked's” box office.
Nowadays, box office analysts have a wide read on what “Wicked” can do over the domestic weekend. On the conservative side, there's $85 million, projected by leading entertainment and technology research firm NRG. Meanwhile, others predict that the first film in the planned duo could exceed $100 million and take in as much as $150 million during its first three days in theaters.
This difference in expectations comes at a time when Hollywood has struggled to market and make a profit from musical films in recent years. Adaptations of In the Heights, Dear Evan Hanson, and Mean Girls, all based on Broadway shows, failed to generate significant box office revenue during their run.
However, other fan-favorite IP-based titles — including “Dune: Part Two,” “Deadpool & Wolverine” and “Inside Out 2” — beat estimates. With “Wicked” already being a household name but existing in the music space, box office analysts are finding it difficult to predict where it will go.