Cynthia Erivo and Ariana Grande star as Elphaba and Glinda in Universal Pictures’ Wicked.
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In 2023, Barbie painted the town pink, and now Wicked is upping the ante with a splash of green.
universalThe theatrical revival of the famous Broadway musical is creating buzz ahead of its Nov. 22 release, with hundreds of items available from dozens of retail partners. The green-and-pink tie-in is part of Universal’s movie marketing strategy and could provide a welcome boost to retail during the crucial holiday season.
These “Wicked” collaborations span apparel, accessories, footwear, beauty and apparel, all the way to home décor, toys and even one-of-a-kind cars.
The collections also vary in price points, providing consumers with both affordable and luxurious options to showcase their love for all things “Wicked.”
Target and Walmart The shelves are stocked with a variety of products, with entire sections of the store dedicated to themed shirts, sweaters and footwear, as well as dolls, plush toys, books and nail polish.
Lego and Mattel There are bricks and Barbie dolls related to the movie; Starbucks Featuring a new range of glasses and mugs, as well as limited-time drinks inspired by protagonists Glinda and Elphaba; Betty Crocker launches “Mix Reveal” cake mix that turns pink when wet ingredients are added or green.
Toyota Lexus has even unveiled two unique versions of the 2024 Lexus TX with a “Wicked” themed exterior wrap.
The Broadway musical the film is based on is one of the most popular and highest-grossing musicals of all time and has developed a steady and ardent fan base.
Since its inception in 2003, more than 14.5 million people have purchased tickets to watch the show at New York City’s Gershwin Theater alone, generating more than $1.67 billion in revenue. ticket sales, According to Broadway World . These figures do not include national tours or international residencies.
According to reports, these fans desire merchandise that celebrates and enhances their popularity, and are willing to pay for it. Mintel’s 2024 US Consumer Report on Super Fans and Enthusiasts.“
The report found that nearly half of “superfans” (the most passionate and loyal fans) have spent money on official fan events or merchandise in the past year. The report, which surveyed 2,000 adults in the United States, also determined that fandom collaboration and co-distribution are most successful in niche super fandoms.
This is a good thing for the retail sector. The consumer confidence index fell 7 points in September, the largest decline in more than three years, but it surged 11% in October, the largest monthly increase since March 2021.
Retailers working with Universal expect to see growth in sales of “Wicked” merchandise, which could help them stand out from other companies in the coming months.
What may also be driving demand is that these merchandise collaborations are limited-time only. Once the inventory is depleted, it is impossible to replenish it. Therefore, even the most price-conscious consumers may be willing to spend money to purchase these products before they disappear from the shelves.
The theater is also offering themed popcorn buckets, drink specials and other merchandise to moviegoers who go to the theater to watch the movie. These retail opportunities could help boost Wicked’s box office performance.
Currently, box office analysts have a broad understanding of how Wicked will perform during its domestic opening weekend. NRG, a leading entertainment and technology research firm, forecast revenue of a conservative $85 million. Meanwhile, others speculate that the first film in the planned duology could top $100 million, taking in as much as $150 million in its first three days in theaters.
The divided expectations come as Hollywood has struggled in recent years to market and profit from musical movies. Adaptations such as “In the Heights,” “Dear Evan Hansen” and “Mean Girls” were all based on Broadway shows but failed to generate significant box office revenue during their run.
However, other fan-favorite IP games – including Dune: Part II, Deadpool and Wolverine, and Inside Out 2 – have all exceeded expectations. Since “Wicked” is already a household name and exists in music, box office analysts are finding it difficult to predict where it will land.
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