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The recent slate of Disney animated films has struggled immensely at the box office, further accentuating the studio's troubles. Last year, titles like Lightyear and Strange World became costly flops, losing hundreds of millions of dollars. The studio was pinning hopes on Pixar—a division once known for its critically acclaimed and commercially successful films—to turn things around with its new releases.
However, the latest Pixar film, Elemental, has only added to Disney's woes. Hopes that Elemental would rejuvenate the Pixar brand were dashed as early reports indicated a historically poor opening weekend, with projections around $35-40 million. Unfortunately, the actual numbers proved even worse.