The Port of Seattle was closed resulting from labor disputes on the ILWU

Shipping containers in the Port of Seattle.

Patti Domm | CNBC

On the West Coast, industrial action continues after it was announced that the Port of Seattle will be closed because the International Longshore and Warehouse Union (ILWU) refuses to send workers to work at the container terminals. This comes from a statement from the Pacific Maritime Association (PMA), which represents the terminals in the ports.

West Coast ports experienced continued work stoppages and disruptions throughout the week, with an estimated $5.2 billion in trade flows being handled from the ports of Los Angeles, Long Beach and Oakland.

In an email statement, the ILWU said the union remains committed to negotiating a contract that is “fair and equitable and reflects the hard work and contributions of its members to the continued success of the multi-billion dollar shipping industry.”

The ILWU also accused the PMA of using the media to use biased information in an attempt to influence the process.

“Despite what you’re hearing from PMA, the West Coast ports are open as we continue to operate under our expired contract,” said International President Willie Adams.

The Port of Seattle and its twin port, the Port of Tacoma, form what is known as the Northwest Seaport Alliance (NWSA). The Port of Seattle is one of the most important seaports in North America that US agricultural exporters rely on to ship their produce and grain. About 40% of jobs in Washington state are related to commerce.

The most important trading partners in 2022 were China, Japan, Vietnam, South Korea, Taiwan, Thailand, Indonesia, Malaysia, the Philippines and India.

The Agriculture Transportation Coalition (AgTC), which represents agricultural shippers, tells CNBC that these disruptions are tarnishing the reputation of US agricultural exporters as reliable trading partners.

“When the ILWU-PMA negotiations collapsed at the end of a previous contract, the Japanese Department of Agriculture wrote to our US Department of Agriculture saying, ‘Your ports aren’t working, but our cows are still eating.’ “The effects of these disruptions on the West Coast are being felt worldwide,” emphasized Peter Friedmann, Managing Director of AgTC.

The top six U.S. exports, according to the port’s website, include apples (worth $2.185 billion), milk (worth $1.209 billion), cattle (worth $801.5 million) , wheat (worth $756.8 million) and potatoes (worth $712.4 million). and Hay (worth $601.7 million). The total value of exports in 2022 was US$5.66 billion.

The NWSA is the country’s second largest gateway for reefer containers. Frozen products such as French fries, meat, dairy products, apples and fish are transported in these special containers.

“Our agriculture cannot stand idly by and not be stored in terminals,” said Friedmann. “We must not constantly miss departures and delivery commitments to foreign buyers.”

Friedmann said agricultural exporters, with very few exceptions, would not have the option to move from the West Coast gates to the East and Gulf Coasts. But he warned customers, foreign buyers do.

“They are called Argentina, Brazil, Australia, New Zealand,” said Friedmann. “We don’t want to lose these customers.”

The NWSA is also a port importer of automobiles with a terminal for roll-on and roll-off vessels. With 172,979 units delivered, auto imports increased by 6.5% in 2022 compared to 2021. Kia and Hyundai Cars use this gateway.

CNBC reached out to the Port of Seattle and had no comment as of press time.

What Tesla charging offers with Ford and GM imply for the business

TESLA logo on a charging station on May 26, 2023 in Merklingen, Germany.

Harry Langer/ | Defodi Images | Getty Images

Within weeks, Ford Motor General Motors And Tesla seem to have changed the tide in EV charging infrastructure in North America.

Tesla owners have long enjoyed reliable on-the-go charging at the company’s Supercharger stations, by far the largest charging network in North America. But the charging industry as a whole is fragmented, and non-Tesla owners don’t have it that easy.

All of that will change soon.

Last month, Ford announced that it had struck a deal with Tesla that would allow Ford electric vehicles to use Tesla’s charging stations with an adapter — and that by 2025 Tesla’s charging technology would become the standard for its own electric vehicles. It was a surprising partnership between rivals, and on Thursday General Motors announced it had struck a nearly identical deal with Tesla.

So why would Ford and GM team up with Tesla, a company that investors have long viewed as a threat to established automakers?

And what does that mean for electric vehicles?

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Tesla’s superchargers use a proprietary connector design called the North American Charging Standard (NACS) that doesn’t work with EVs from other manufacturers. Most other electric vehicles and charging stations in the US use the Combined Charging System (CCS) public domain plug standard.

Currently, Tesla electric vehicles can use CCS chargers with an adapter, but only Teslas can use NACS chargers.

That said, while Tesla owners have access to the company’s numerous and reliable fast-charging stations, drivers of non-Tesla EVs using CCS are faced with a mess of networks and often unreliable equipment.

The shortcomings of CCS are a growing concern for Detroit automakers as they ramp up production of electric vehicles in hopes of selling their electrified models to the masses.

In a study last year, researchers from the University of California, Berkeley checked 675 CCS fast chargers in the San Francisco Bay Area and found that nearly a quarter of them were non-functional. An August 2022 study by JD Power found similar results for CCS chargers in other parts of the country. Notably, Tesla’s charging network was also found to be much more reliable.

Tesla originally built the Supercharger network to address potential buyers’ concerns about charging while driving. The scale and reliability of its fast-charging network was a key part of its early selling points to customers fearful of going electric — and it’s been an integral part of the company’s success in the US ever since.

In contrast, the inadequacy and sub-par reliability of the CCS network has been a challenge for Ford and GM (and other automakers) as they seek to increase sales of their own electric vehicles.

Potential buyers of a Ford or GM electric vehicle might like what they experience on a test drive, but without a reliable charging network, both are at a disadvantage for Tesla. These new deals should go a long way toward aligning fee terms.

Another reason to favor Tesla’s NACS standard over CCS: Tesla’s plugs are significantly smaller and lighter than CCS fast charging plugs, which can be cumbersome for elderly or disabled drivers to use.

As both Ford and GM strive to win new electric vehicle customers, improving accessibility is a high priority.

Short term savings

For automakers like Ford and GM, which are betting billions on a major EV transition, reliability issues with CCS chargers are seen as a potential obstacle to wider adoption. GM announced in 2021 that it plans to spend $750 million to improve EV charging infrastructure in the United States and Canada.

But then, last November, Tesla opened up the NACS standard, released the technical specifications, and invited charging network operators and other automakers to use its connector design.

For both Ford and GM, this change meant a shortcut—and the potential for big savings.

“We believe we can save up to $400 million out of the original three-quarters of a billion dollars that we committed to this because we were able to do it faster and more effectively,” Barra said in an interview with CNBC on Thursday. Fast Money” after the announcement of the Tesla deal.

For Ford CEO Jim Farley, these deals also signal a new era of collaboration between automakers that goes beyond individual components.

“We [worked with other automakers] on transmissions and engines without anyone in the ICE world noticing,” Farley said at a May 31 Bernstein conference. “Now it’s going to be more on the technology side.” I think that’s one of the most interesting new dynamics.”

What about Tesla?

So what does Tesla get out of the deal to allow its competitors to use its superior charging network?

The EV leader will surely appreciate the additional revenue it receives from Ford and GM EV owners every time they charge at a Supercharger station.

The company will also welcome tacit support for its technology from long-established competitors, and will likely seek a share of public subsidies for EV charging provided under last year’s bipartisan infrastructure bill.

But the deals don’t mean Tesla will win a monopoly on public charging in the US, even if all automakers eventually adopt the NACS standard.

The EV giant’s decision to release the NACS standard means that competing charging network operators also have the freedom to add chargers with NACS connectors – and they almost certainly will too.

In fact, major players are already reacting to the deals with Ford and GM. Swiss electrical appliance giant ABB, a leading manufacturer of commercial chargers for electric vehicles, announced on Friday that it will soon offer NACS plugs as an option for its products. FreeWire Technologies, a California-based startup that builds fast chargers, announced similar plans after Ford’s deal with Tesla last month.

Tesla’s main motivation — at least publicly — might be even simpler.

“Our mission is to accelerate the world’s sustainable energy transition,” said Rebecca Tinucci, Tesla’s senior director of charging infrastructure, in a statement accompanying the GM deal announcement on Thursday. “A cornerstone of this mission is to provide every EV owner with access to ubiquitous and reliable charging.”

Sanders condemns Alzheimer’s therapy value and requires HHS motion

Senator Bernie Sanders (I-VT) arrives at the US Capitol on June 1, 2023 in Washington, DC.

Anna Moneymaker | Getty Images

Senator Bernie Sanders on Wednesday called on the US Department of Health and Human Services to take action to ensure seniors can actually afford expensive Leqembi Alzheimer’s treatment.

Sanders, chair of the Senate Health Committee, in a letter to HHS Secretary Xavier Becerra, cited the $26,500 annual price for Leqembi set by drugmakers Eisai and biogenic “incomprehensible.”

The Vermont independent said the drug’s current cost would place a significant financial burden on Medicare and increase premiums for seniors. Medicare is the federal program that provides health insurance primarily to older Americans.

Sanders said Leqembi’s “outrageously high price” “will discourage treatment from seniors who need this drug.”

Lawmakers wrote that if Eisai and Biogen refuse to lower the price of the treatment, HHS should use its powers to break Leqembi’s patent monopoly.

He also said the Centers for Medicare and Medicaid Services could also cap the amount of compensation for Leqembi to reflect the drug’s actual benefits.

Most Medicare patients with Alzheimer’s could not afford the 20 percent co-payment of more than $5,000 a year for Leqembi, Sanders said. The co-payment for the drug accounts for one-sixth of the average Medicare beneficiary’s income of $30,000, he said.

“Not only would that obviously be unaffordable for many senior citizens, it would be absurd and unfair government policy,” wrote Sanders, a Democratic Socialist who sits with the Democratic Senate majority.

Co-payments, along with co-insurance and deductibles, are costs of medication and healthcare services that the patient must personally pay out of their own pocket and are not covered by their health insurance.

Sanders said in his letter to Becerra, “Mr. Secretary: As you know, a prescription drug is not effective if a patient who needs that drug cannot afford to take it.”

The Institute for Clinical and Economic Review, a nonprofit, estimates that Leqembi should sell for $8,900 to $21,500 a year, well below Eisai’s list price.

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However, Eisai indicated that Leqembi’s annual list price of $26,500 is lower than the company’s estimate of the drug’s total value for each patient of $37,600. Eisai developed Leqembi and conducted clinical trials of the drug, which is manufactured by Biogen.

Medicare plans to cover Leqembi if the Food and Drug Administration approves the treatment.

CMS Administrator Chiquita Brooks-LaSur said last week that Medicare will cover Leqembi the same day the treatment gets the FDA green light.

The FDA is expected to make a decision on the approval of Leqembi by July 6.

The FDA’s panel of independent advisors is scheduled to meet Friday to vote on whether data from a clinical study supports Leqembi’s clinical benefit for patients.

The FDA is under no obligation to follow the advice of its advisors. However, a positive vote by the panel of experts would speak in favor of the drug being approved.

Medicare, which operates independently of the FDA, decides whether to pay for a drug based on its own determination of whether a treatment is “appropriate and necessary” for patients.

Sanders said in his letter that at current costs, Leqembi “will undermine Medicare’s finances.”

“And it will increase the premiums of over 60 million seniors who receive Medicare, whether or not they need to take that drug,” Sanders wrote.

A study published in JAMA Internal Medicine, a leading medical journal, found that Leqembi could cost Medicare $5 billion a year. And individual Medicare patients could face $6,600 in annual costs for the drug, depending on what state they live in and whether they have supplemental insurance, the study found.

Leqembi received accelerated approval from the FDA in January. But Medicare severely limits coverage of Alzheimer’s antibody drugs approved under this accelerated approval process.

That Medicare policy came into effect following the controversial approval of another Alzheimer’s antibody drug called Aduhelm, made by Biogen and Eisai.

The FDA accelerated approval of Aduhelm in June 2021, although the agency’s independent advisors said the drug has not shown clinical benefit for patients.

Three of the FDA’s independent advisors resigned as a result of the agency’s decision. A Congressional investigation subsequently found the permit was “riddled with irregularities.”

The companies priced Aduhelm at $56,000 per year.

Sanders said in his letter Wednesday that “the FDA has a special responsibility to restore public confidence after forming an inappropriate relationship with Biogen during the agency’s review of a previous Alzheimer’s drug, Aduhelm.”

Chris Christie slams Trump in presidential marketing campaign announcement

Chris Christie emerged from the gate and spoke about Trump in the most blunt terms that other Republican presidential hopefuls had feared.

Video:

Christie said: “A lonely, selfish, selfish mirror pig. Ain’t no leader… Well, let me get this straight if I haven’t already. The person I’m talking about who is obsessed with the mirror, who never admits a mistake, who never admits a mistake and who always blames everything that goes wrong on someone else and something else, but finds every reason, everything goes wrong, acknowledging Right is Donald Trump. And if we’re not having this conversation with you, we don’t deserve to be asking for your vote. We don’t deserve the mantle of leadership. We don’t deserve you to think of us as people worthy of leadership.”

Chris Christie was right about one thing. Any Republican candidate who does not attack Trump is definitely not worthy of the votes of the American people. Chris Christie’s approval ratings are underwater among Republicans. He has virtually no chance of winning the Republican nomination, so his job this campaign is to do the dirty work and incur Donald Trump’s wrath.

Whether Trump will give him that much attention or if Christie will be able to meet the RNC criteria to take part in the debates is an unknown question, but Chris Christie is in the running and he’s trying to take Donald Trump out.

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Jason is the managing editor. He is also White House press secretary and congressional correspondent for PoliticusUSA. Jason has a bachelor’s degree in political science. The focus of his thesis was on public policy with a focus on social reform movements.

Awards and professional memberships

Member of the Society of Professional Journalists and the American Political Science Association

I’ve tried over 100 mascaras – I fell in love with this one right away

I used the mascara on a morning when I didn’t particularly feel like putting makeup on an entire face. That’s when mascara comes in handy because it can breathe life into your eyes and make it look like you’ve spent a lot more time on your glamor than you actually have.

I was immediately drawn to the versatile brush. The easy-to-hold, dual-bristle brush has a tapered tip that made it easier for me to reach my inner and outer lashes, and features longer bristles on one side and shorter bristles on the other. The longer bristles helped build volume, while the shorter bristles allowed me to curl the lashes from the roots.

The formula? Well, it went smoothly, to say the least. Not a lump in sight. Recommended by dermatologists and ophthalmologists, the formula was extra gentle on my sensitive eyes as it’s packed with peptides and ingredients like sodium hyaluronate and organic pea sprout extract. The mascara feels good and looks good.

With the Liquid Lash Volumizer™ Mascara, it took me just a few swipes to get the fullest, longest lashes I’ve probably ever achieved. In short, I fell in love with the mascara the first time I used it. And it lasted all day at the office, which is a must. Pre-purchase it yourself to unlock the best lashes of your life.

Apple’s Imaginative and prescient Professional headset will launch with Disney+ streaming

Bob Iger, CEO, Disney at Apple Program

Source: Apple

The Walt Disney Company has always been at the forefront of developing new storytelling technologies. On Monday there was a new partnership with announced Apple to port its Disney+ streaming service to the tech giant’s new augmented reality headset.

Dubbed the Vision Pro, the headset allows users to interact with digital content in mixed reality. Retail price is $3,499.

Disney CEO Bob Iger said the new technology will enhance the Disney+ viewing experience, noting that users will be able to access the streaming service when the headset launches early next year.

“We’re constantly looking for new ways to entertain, inform and inspire our fans by combining extraordinary creativity with breakthrough technology to create truly remarkable experiences,” said Iger during Apple’s keynote at WWDC 2023 on Monday. “And we believe that Apple Vision Pro is a revolutionary platform that can make our vision a reality.”

The demo reel for the Disney-Apple collaboration featured 3D visualizations of a basketball court, showing how users could immerse themselves in sports competitions from the comfort of their own home, and immersive National Geographic content that put the viewer in the middle of the ocean.

“It will allow us to create deeply personal experiences that bring our fans closer to the characters they love,” said Iger. “This platform will allow us to bring Disney to our fans in a way that hasn’t been possible before.”

The sizzling film also featured Mickey Mouse springing to life in a living room, fireworks from Disney theme parks exploding in a kitchen, and fans watching Star Wars content from the surface of a planet.

“We’re so proud to once again partner with the world’s largest storytelling company and the world’s most innovative technology company to bring you real magic,” said Iger.

What it means for the writers’ strike

Writers demonstrate in front of Netflix on Sunset Boulevard in Hollywood, California during the Writers Guild of America strike on May 2, 2023.

Frederic J Brown | Afp | Getty Images

Hollywood producers have reached a tentative agreement with film and TV directors, but that doesn’t mean we should expect a sudden resolution of the writers’ strike or talks with the actors’ union.

On Sunday, the Directors Guild of America and the Alliance of Motion Picture and Television Producers tentatively agreed on a three-year deal that would give the 19,000-member union salary and benefit increases, increases in global streaming balances and protections against the use of films artificial Intelligence.

The DGA contract expires on June 30th. The guild will present the proposal to its members on Tuesday.

Meanwhile, the Writers Guild of America enters the second month of its strike. Likewise, the Screen Actors Guild and the American Federation of Television and Radio Artists are close to authorizing a possible strike if negotiations fail. Those talks begin on Wednesday.

The WGA has been on strike since May 2 and has halted dozens of television and film productions as talks with producers stalled.

Already Netflix has postponed the start of production of the fifth and final season of “Stranger Things” Warner Brothers’ discoveries Game of Thrones prequel A Knight of the Seven Kingdoms: Night of the Hedgehogs has closed its writer’s room, and Disney and Marvel’s Thunderbolts and Blade have paused production.

During the last writers’ strike in 2007 and 2008, which lasted 100 days, a studio deal with the DGA prompted writers to return to the negotiating table. This time, however, that may not be the case.

“We congratulate the DGA negotiating committee on a deal that it will recommend to its national board for approval and then presumably forward to its members for ratification,” the WGA negotiating committee wrote in a memo to members Sunday.

The committee said it would not comment on the contract terms of DGA’s new contract, noting that its negotiating positions remain the same.

“Last week we sent an email saying that the AMPTP divide and conquer strategy won’t work this time,” the memo reads. “The AMPTP will not be able to negotiate a deal for writers with anyone but us.”

The committee also said it stood in solidarity with SAG-AFTRA, which is finalizing its vote on Monday to authorize the strike.

SAG-AFTRA officials did not immediately respond to CNBC’s request for comment.

The WGA memo echoes comments by WGA negotiator Chris Keyser on Friday when he was providing a public update via YouTube a month after the strike began.

“Any deal that gets this town back to work goes right through the WGA, and there’s no getting around that,” he said.

Keyser also expressed that the WGA strike had already “inflicted highly effective pain” on companies, noting that the refusal to work combined with public picketing showed the union’s determination to “get the contract we deserve.” “.

The AI ​​fight

In DGA’s agreement, directors secured wage increases starting at 5% in the first year, an increase in balances from streaming, and a guarantee that artificial intelligence could not replace the duties performed by members.

AI has been a major problem for both writers’ and actors’ guilds, who find their jobs particularly vulnerable to this new technology.

In their negotiations, both the WGA and SAG-AFTRA are striving for protection against the use of AI and an increase in remuneration for streamed content. The WGA also calls for minimum staffing levels for television writers’ rooms and more competitive minimum wages for the work.

The WGA is less concerned about being replaced by AI systems and more concerned that production companies will use these technological tools to drive down writers’ salaries.

SAG-AFTRA has recognized that AI technology can have its benefits in the industry, but wants to ensure that any use of AI to replicate an actor or create a new performance is done with the actor’s consent and payment. The Guild has similar guard rails when it comes to capturing computer generated imagery.

Some artists, such as James Earl Jones, have already agreed to have their voices cloned for use after their death. 91-year-old Jones embodied the famous voice of Darth Vader in the Star Wars series and tried to step away from the role. Jones was compensated and the technology was used to bring Vader’s iconic voice to Disney+’s Obi-Wan Kenobi.

The Actors Guild has also made it clear that its bargaining benefits all of its members, not just the big stars. For tens of thousands of professionals, health insurance, compensation and final payments are top priorities.

The SAG-AFTRA vote on strike authorization closes Monday at 8:00 p.m. ET.

Disclosure: Comcast is the parent company of NBCUniversal and CNBC. NBCUniversal is a member of the Alliance of Motion Picture and Television Producers.

The FDA permits the import of unapproved Chinese language chemotherapy medication

Workers work on a production line at the Qilu Pharmaceutical factory in Haikou, east China’s Hainan province, 11 February 2022.

Su Bikun | vcg | Getty Images

The U.S. Food and Drug Administration has approved the temporary importation of an unapproved chemotherapy drug from China to help alleviate the acute shortage of cancer drugs in the United States, according to an update published on the agency’s website on Friday.

A document shows that Qilu Pharmaceutical, which makes and markets cisplatin injections in China, received FDA approval weeks ago to export the drug to the US market.

A May 24 letter from Qilu’s deputy general manager informed health workers of the approval.

Qilu is partnering with Toronto-based company Apotex to distribute 50-milligram vials of cisplatin in the United States

Healthcare providers can start ordering the drug through their wholesalers from Tuesday.

Cisplatin is a generic drug that has been available in the US for decades and is distributed by several licensed manufacturers. These manufacturers could not keep up with the demand. Qilu’s version of cisplatin is not approved in the United States

Qilu, headquartered in the city of Jinan in Shandong province, claims to be one of the ten largest drug manufacturers in China.

The FDA told CNBC this week that the agency is considering importing unapproved chemotherapy drugs, but at the time did not disclose the names of manufacturers who might offer those drugs.

A spokesman for the FDA said the agency assesses the quality of unapproved drug imports to ensure they are safe for US patients.

Doctors say some cancer patients could die if nationwide shortages of drugs like cisplatin aren’t fixed soon. At least 13 other cancer drugs are in short supply in the US

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Cancer drug shortages have forced some hospitals to ration drugs, reducing dosages to expand supplies and prioritizing patients with a better chance of recovery.

Cisplatin is commonly used to treat testicular, lung, bladder, cervical, and ovarian cancer, among others. According to the National Cancer Institute, up to 20% of cancer patients are treated with cisplatin and other platinum-based chemotherapy drugs.

The World Health Organization says the drug is an essential part of basic health care.

The nationwide shortage of cisplatin began in February after an India-based pharmaceutical company temporarily halted production for the US market.

Intas Pharmaceuticals decided to temporarily halt production after an FDA inspection last year found a “cascade of errors” in its quality control unit.

A spokesman for Intas told CNBC this week that the company is working with the FDA to resume production for the US, but no date has been set.

Biden says debt ceiling invoice avoids catastrophic financial default

US President Joe Biden addresses the nation on averting a default and the bipartisan budget deal in the Oval Office of the White House in Washington, DC on June 2, 2023.

Pool | Via Reuters

WASHINGTON — President Joe Biden made his first address in the Oval Office Friday night to discuss a bill to raise the debt ceiling while limiting federal spending, calling it a “critical” deal. He wants to sign the bill on Saturday.

“Nobody got everything they wanted, but the American people got what they needed. We averted an economic crisis and collapse,” Biden said.

The debt ceiling compromise proposal passed the Senate by a vote of 63 to 36 on Thursday night, garnering enough bipartisan support to clear the chamber’s 60-vote threshold and avoid a filibuster. On Wednesday, after about 72 hours, it made its way through the House of Representatives, passing 314-117.

There is little time for agreement: the Treasury Department estimated that the federal government would run out of money on June 5 if the debt ceiling had not been lifted.

“This is vital,” Biden said. “Critical to all of the progress we have made over the past few years is maintaining the full confidence and credit of the United States and enacting a budget that will continue to grow our economy and reflect our values ​​as a nation. “

Without the agreement, federal obligations such as Social Security, Medicare, and military paychecks would not have been paid. And if the debt ceiling was not raised, it would have roiled global financial markets and led to US job losses

The bill comes after weeks of intense negotiations between Republican House Speaker Kevin McCarthy and the White House. The final deal gave conservatives several ideological political victories in exchange for their votes to raise the debt ceiling beyond next year’s presidential election and into 2025.

The Little Mermaid is the important thing to Disney stay motion remake technique

Halle Bailey plays Ariel in Disney’s The Little Mermaid.

Disney

Disney’s The Little Mermaid grossed nearly $96 million in its first three days in cinemas in North America. This opening film is on par with the $91 million film Aladdin, which grossed more than $1 billion at the global box office in 2019.

However, that doesn’t guarantee that the company’s latest live-action remake will have the same success. The film will sink or swim by word of mouth.

Audience enthusiasm has become an increasingly important factor in box office success in the wake of the pandemic. With so many entertainment options, even franchise films can struggle to attract moviegoers. For those who cannot afford to see a film on its opening weekend, positive conversation can lure them into theaters, helping to boost the film’s overall box office earnings.

Disney has seen firsthand what happens when audiences don’t connect with titles. The studio, known for its animated content, has seen two of its most recent releases – Lightyear and Strange World – fail at the box office. Neither film was particularly well-received by critics, and previous releases that went straight to Disney+ confused consumers as to where to watch the films.

Disney has since built a solid theatrical business for live-action remakes of its litany of classic animated films, generating nearly $9 billion in worldwide ticket sales from these films since 2010.

The company’s success has inspired other studios to recreate popular animated films as live-action films. Universal Pictures and DreamWorks Animation are currently developing a live-action version of their highly successful How To Train Your Dragon animated trilogy. The film is scheduled to hit theaters on March 14, 2025.

Although there were two live-action movies based on 101 Dalmatians in 1996 and 2000, it wasn’t until 2010’s Alice in Wonderland that Disney really started producing these remakes. This film was the first in this series to gross more than $1 billion at the global box office, which sparked the production of nearly a dozen other titles, including Maleficent, Cinderella, The Jungle Book and Dumbo. .

And there are more on the way. Disney recently announced plans to bring Moana and Lilo and Stitch to the real world. With Disney scouting for newer animated films, Shawn Robbins, chief analyst at BoxOffice.com, believes it’s only a matter of time before the company starts looking at recent hits like Frozen or even Encanto.

These adaptations have had varying degrees of success over the past decade, with some such as The Lion King and Beauty and the Beast each grossing more than $1 billion at the global box office, and others such as Dumbo and Alice. Through the Looking Glass” has each grossed less than $350 million worldwide.

“The long-term game for Disney must include a plan that extends beyond the mighty triumvirate of Lucasfilm, Marvel and Pixar,” said Paul Dergarabedian, senior media analyst at Comscore. “Disney has focused 100% on live-action remakes of some of its most iconic titles, starring beloved characters, with varying degrees of box office success.”

The first box office showing of The Little Mermaid should give Disney a “confidence boost,” he added, as it shows that the live-action strategy is viable.

is it in the cinema

However, for many viewers, Disney’s release strategy has become muddled in the wake of the pandemic. While the live-action version of Lady and the Tramp was made available to subscribers when the Disney+ streaming service launched in late 2019, most consumers were expecting these new adaptations to hit the big screen as well.

When theaters closed due to the pandemic, Disney was forced to port 2020’s “Mulan” to Disney+ for a $30 rental and later release 2021’s “Cruella” in theaters and streaming simultaneously .

The company didn’t release another live-action remake until late 2022, when “Pinocchio,” starring Tom Hanks, came out on Disney+. According to Rotten Tomatoes, the film was heavily criticized by critics and audiences alike.

“Peter Pan and Wendy,” which came out on Disney+ in late April, also had mediocre reviews from critics (62% fresh) and was overwhelmingly disliked by audiences, who gave it 11%.

With only a few exceptions, audiences have been receptive to Disney’s classic animated remakes, often earning higher ratings than Rotten Tomatoes critics.

“The success of Disney’s remakes is pretty clear in that it resonates most strongly with the animation renaissance of the 1990s,” said Robbins. “That’s because these original stories are so popular and because of the contemporary tradition passed down from generation to generation.”

At the horizon

Box office experts will be watching The Little Mermaid’s second weekend in domestic cinemas for an indication of the film’s longevity at the box office.

For most films, a 50-70% drop is the norm. For big tentpole features, box office sales often dip into this range after opening weekend numbers were sky-high. While these types of films can continue to achieve billion-dollar box office releases, this metric can provide insight into whether word-of-mouth is attracting new viewers to theaters or if interest is waning.

The live-action film Aladdin, which also premiered over Memorial Day weekend, saw its ticket sales fall 53% from week one to week two. Ticket sales continued to decline by 40% or less through August of the same year.

Upcoming live action remakes from Disney

  • “Snow White and the Seven Dwarfs” – March 22, 2024
  • “Mufasa: The Lion King” – July 5, 2024
  • “Lilo & Stitch” – in development
  • “Moana” – in development
  • “Hercules” – in development
  • “The Hunchback of Notre Dame” – in development
  • “Robin Hood” – in development
  • “The Aristocats” – in development
  • “The Sword In The Stone” – in development
  • “Bambi” – in development
  • Cruella Sequel – In development
  • Sequel to The Jungle Book – in development

If The Little Mermaid can emulate these losses and stay in the cultural zeitgeist all summer, box office analysts predict domestic and eventually world box office success for the feature film.

That could be difficult as the film will face stiff competition from Sony’s Spider-Man Across the Spider-Verse, which hits theaters on Friday, as well as a host of upcoming family-friendly movies. Paramount’s Transformers: Rise of the Beasts is out June 9, Elemental from Disney and Pixar and Warner Bros. The Flash debuts June 16, and Universal’s Ruby Gillman: Teenage Kraken launches June 30 .

“Despite some backlash and lower box office earnings for certain films, the Disney vault has shown it continues to reach out and appeal to all age groups,” Robbins said. “However, some argue that this was at the expense of the original films. Ultimately, I think the audience wants both. Fresh content and nostalgic material both have their merits.”

Disclosure: Comcast is the parent company of NBCUniversal and CNBC. NBCUniversal owns Rotten Tomatoes.