Yau Ming Low
Walt Disney (NYSE:DIS) on Saturday said a third film in its hit Pixar series Incredibles was in the works, and gave updates on several of its other franchises such as Moana and Avatar.
The announcements came at Disney's (DIS) biannual D23 fan convention, with this year's event taking place at the Honda Center in Anaheim, Calif.
Disney (DIS) has been on a bit of a roll this year after a mixed post-pandemic box office performance that has seen both highs and lows. Pixar's Inside Out 2 and Marvel's Deadpool & Wolverine have become the first and second highest grossing films of 2024, with the former becoming the biggest animated movie ever.
Disney's (DIS) entertainment showcase comes just three days after the theme park and movie giant reported its latest quarterly results. The company's combined streaming assets achieved a profit for the first time.
Disney (DIS) dominated much of the box office in the 2010s, in part due to the strength of its Marvel superhero films. However, since the pandemic, the performance has gone through peaks and troughs, amid changing consumer tastes and superhero fatigue.
But the company is back in a groove this year. Pixar's Inside Out 2 has grossed $1.56B already, while Marvel's Deadpool & Wolverine is well on its way to joining the billion dollar club. And Disney could potentially have a third film hitting that mark with Moana 2 later this year.
Disney (DIS) on Saturday showed off an extended sneak peek of the film, which is set to hit theaters on November 27. The first film, Moana, was released in 2016 and has since become a major hit. It continues to remain popular, with Nielsen data showing it was the most streamed film in 2023.
The company also confirmed that Incredibles 3 was in the works. Brad Bird, the director of the first two installments, will return to develop the film. The animated superhero series has grossed nearly $2B worldwide.
Looking at its live-action slate, Canadian filmmaker James Cameron revealed the title of the third movie in his epic science fiction series Avatar. The first two films grossed over $2B each, making them the highest grossing franchise in history.
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