Cynthia Erivo and Ariana Grande star as Elphaba and Glinda in Universal's “Wicked.”
Universal
“Barbie” painted the town pink in 2023, and now “Wicked” is upping the ante by adding a splash of green.
UniversalThe stage version of the famous Broadway musical is generating buzz ahead of its Nov. 22 premiere with hundreds of product offerings from dozens of retail partners. The green and pink blitz 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 Christmas period.
These “Wicked” collaborations run the gamut, from clothing, accessories, footwear, beauty and costumes to home decor, toys and even one-of-a-kind cars.
The collections also vary in price and offer consumers affordable and luxury options to show their love for all things “Wicked.”
Aim and Walmart It has a ton of products on the shelves, with entire sections of the store dedicated to themed shirts, sweaters and shoes, as well as dolls, stuffed animals, books and nail polish.
Lego and Mattel have brick sets and Barbies tied to the movie; starbucks has a collection of new glasses and mugs, plus limited-time drinks inspired by main characters Glinda and Elphaba; and Betty Crocker has “reveal mix” cake mixes that turn pink or green when wet ingredients are added.
Toyota's Lexus is even releasing two unique versions of its 2024 Lexus TX that feature “Wicked”-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.
At the Gershwin Theater in New York City alone, more than 14.5 million people have purchased tickets to see the show since its launch in 2003, generating more than $1.67 billion in ticket sales, according to Broadway World. Those figures do not include national touring shows or international residencies.
These fans are hungry for products that celebrate and enhance their fandom and are willing to pay for it, according to Mintel's “2024 US Superfans and Enthusiasts Consumer Report.”
The report found that nearly half of “superfans,” the most enthusiastic and devoted fans, have spent money on official fandom events or merchandise in the past year. The report, which surveyed 2,000 adults in the US, also found that fandom collaborations and associated releases are most successful among niche superfandoms.
And that's good for the retail sector, where the consumer confidence index fell 7 points in September, the biggest drop in more than three years, before soaring 11% in October, the biggest monthly acceleration since March 2021.
Retailers that have partnered with Universal are expected to see an increase in sales of “Wicked” products, which could help them stand out from other companies in the coming months.
What could also drive demand is the fact that these merchandise collaborations are only for a limited time. Once stock is depleted, it is not likely to be replenished. Therefore, even the most price-conscious consumers may be willing to spend to obtain these products before they disappear from shelves.
The theaters also offer themed popcorn buckets, specialty drinks, and other merchandise for moviegoers who come to the theaters to watch the movie. These retail opportunities could help boost “Wicked's” box office.
Currently, box office analysts have a broad view of what “Wicked” could do during its opening weekend in the United States. On the conservative side is an $85 million haul, predicted by leading technology and entertainment research firm NRG. Meanwhile, others are speculating that the first film in a planned duology could surpass $100 million and gross as much as $150 million during its first three days in theaters.
The divergence in expectations comes as Hollywood has struggled to market and profit from movie musicals in recent years. Adaptations such as “In the Heights,” “Dear Evan Hanson” and “Mean Girls,” all based on Broadway shows, failed to generate significant box office revenue during their runs.
However, other titles based on fan-favorite intellectual property, including “Dune: Part Two,” “Deadpool & Wolverine” and “Inside Out 2,” have surpassed estimates. Since “Wicked” is already a household name but exists in the music space, box office analysts are having a hard time predicting where it will land.
