The film grossed 43 million USD in North America and 52 million USD from 50 international markets, reaching a total opening revenue of about 95 million USD worldwide. With a large-scale investment project with a production budget of about 250 million USD, this is considered a rather modest start.
According to observers, if adding global marketing and distribution costs, the total investment for the film is said to be nearly 400 million USD. Some experts predict that if global box office revenue only stops at around 250 million USD, Disney may suffer a loss of 100-125 million USD in the first operating cycle.
This result is surprising because "Moana" is one of Disney's most successful franchises in nearly a decade. The animated film released in 2016 has been in the group of most viewed works on the Disney+ platform for many years, while "Moana 2" once surpassed the 1 billion USD global revenue mark after its release at the end of 2024.
The live-action version is directed by Thomas Kail, with "The Rock" Dwayne Johnson playing the demigod Maui and Catherine Laga'aia playing Moana. However, instead of creating a new feeling, the work received many opinions that it was too faithful to the 2016 animated version. Many critics assessed that the film almost repeated the original, making it difficult for audiences to find attractive enough differences to go to theaters.
Meanwhile, audience reactions are more positive. Post-screening surveys show that family groups and female audiences still have a lot of sympathy for the film, but the positive word-of-mouth effect is not enough to create a breakthrough in revenue.
According to many experts, the biggest problem of "Moana" does not necessarily lie in the quality but at the time of release. Less than two years after the resounding success of "Moana 2", Disney continues to bring the live-action version to theaters. The too short distance makes many families not willing to spend money to rewatch a familiar story, especially when the film is likely to be released soon on the Disney+ platform.
In addition, the summer family film market this year also witnessed fierce competition. "Minions & Quái Vật" still maintains its appeal after its second week of release, while "Toy Story 5" continues to have stable revenue after many weeks in theaters. Notably, Disney also has to compete with itself when "Toy Story 5" still attracts a large audience in many markets.
In Vietnam, "Moana" (live-action) has also not created a significant breakthrough. According to Box Office Vietnam data, the film currently grosses nearly 839 million VND, ranking behind some competitors at the same time such as "Minions & Quái Vật" and "Quỷ Bắt Hồn".
Many opinions believe that Disney has chosen an unreasonable release date. In the next two weeks, the global box office will continue to welcome long-awaited blockbusters such as Christopher Nolan's "The Odyssey" and "Spider-Man: Brand New Day". The appearance of these works is predicted to make the revenue competition fiercer, while also putting more pressure on "Moana" in maintaining screenings and revenue.
However, analysts believe that "Moana"'s opportunity is not completely closed. Positive reviews from audiences can help the film maintain its appeal in the following weeks, especially when family audiences are still Disney's focus.
However, the opening under expectations once again raises questions about Disney's remake strategy of animated films. After the success of works like "The Lion King", "Beauty and the Beast" or "Lilo & Stitch", the film studio is facing the challenge of bringing many new values to the live-action versions, instead of just recreating stories that are already too familiar to audiences.
