Blockbuster film Barbie grossed $1 billion at the box office within the first 17 days of its release. It makes the film's director, Greta Gerwig, the first female director to reach that milestone. Yahoo Finance Senior Reporter Alexandra Canal explains how the success of Barbie may "fundamentally change the types of movies that are produced at the box office," noting how studios habitually invest in action-filled films targeted towards males.
Video Transcript
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BRAD SMITH: "Barbie" has hit the billion dollar mark at the box office. Warner Brothers calls its watershed moment. It's also a big moment for director Greta Gerwig. She becomes the first woman to hit the milestone in just 17 days after the film was released. Joining us now to discuss Yahoo Finance's Alexandra Canal. Hey, Ale.
ALEXANDRA CANAL: Hey, Barbie. Hey, guys. If you saw the movie, you get the reference there. But yes, there are quite a few milestones that were reached here. We only have 28 male directors to have the sole credit for those $1 billion films. And now just one female director for that sole credit, which is Greta Gerwig. There have been a few women that have had co-directing titles to have movies reach the $1 billion club, but it's pretty rare. There's only about 50 films out there, and we had two so far this year. "Barbie" being the second. The first being "The Super Mario Brothers Movie, which was produced by NBC Universal.
So I think this is a really big moment for Warner Brothers Discovery because it's the first film that they've seen reach 1 billion since their merger of last year. Clearly, they're all in on "Barbie". I mean, even their earnings was pink when they released it last week. So this is, I think, going to fundamentally change the types of movies that are produced at the box office because for a long time really the story was these action films, these male-driven films, they are the ones that are safe bets at the box office. And even for "Barbie", it didn't come with a squeal. There was still hesitation in the leadership ranks if this was going to perform and do well.
Clearly, this is bucking that trend. So I think we're going to see a lot more female-driven stories and obviously a lot more confidence in the female director as well.
JULIE HYMAN: At the same time, what's on the docket? In other words, like, there's so much hype around this movie. It feels like in terms of repeatable--
ALEXANDRA CANAL: Right.
JULIE HYMAN: --other hits, whether it's by women or anyone that's on tap for Warner Brothers-- in other words, like, if you look at what's coming up, are there other non-franchise, non-action movies that people are as excited-- I mean, nothing even comes close, right?
ALEXANDRA CANAL: Not really.
JULIE HYMAN: I mean, with the strike, yes, but even so.
ALEXANDRA CANAL: Even so, I think after the summer, the fall is pretty chill for the most part. There's nothing crazy coming out that I think is capturing attention. And you also have to remember the promotion around this movie, the marketing spend was astronomical, it was insane. And I think that added to the hype as well. And then obviously, you mentioned the strike. I think that points to 2024. There's going to be a bit of risk there, especially for a lot of these theatrical giants. So you have to wonder once the strike ends, whenever that will be, hopefully soon, what those types of conversations are going to be like when it comes to really pinning down the future theatrical slate in 2024, and even beyond in 2025 and 2026. So I think that's going to be the top story to watch.
But again, the box office is in a state of disarray right now with these strikes.
JULIE HYMAN: Yeah. I'm looking at what's coming up. We got another sore. Nobody asked for that one.
ALEXANDRA CANAL: The squeal, right?
JULIE HYMAN: We got another "Aquaman". We got "The Marvels". Is there another "Hunger Games"? Oh, that's right. The prequel.
ALEXANDRA CANAL: The prequel.
JULIE HYMAN: It's like, oh, come on.
ALEXANDRA CANAL: Because those are the safe bets for theaters. But I think clearly audiences are showing they want fresh original content. They want new ideas. And so I think studios are going to have to be forced to listen to that at some point.
BRAD SMITH: It's just nothing to be excited about.
ALEXANDRA CANAL: I know.
JULIE HYMAN: I want to see "The Marvels", but I'm not like--
BRAD SMITH: "The Marvels", yeah.
JULIE HYMAN: --wow.
ALEXANDRA CANAL: I know. After this, like, the past couple of weeks, it's such a letdown after Barbenheimer.
BRAD SMITH: It just goes to show how well executed of a holistic, omnichannel, omni approach type of plan this was for Mattel, for Warner Brothers to be able to bring this to life that you had people dressing up to go see the movie. You have all of us buying-- I bought a mug.
ALEXANDRA CANAL: I dressed up too. I was in--
BRAD SMITH: I bought Kenough mug.
JULIE HYMAN: All right. We got to leave it there, guys.
