Universal's Wicked Earns Record $70 Million PVOD

Universal's adaptation of 'Wicked' has achieved remarkable success in its first week of premium video-on-demand (PVOD) sales, earning $70 million, which sets a new studio record. Released on December 31, the film generated $26 million within the first 24 hours of availability, surpassing the previous PVOD record of $44 million held by 'The Super Mario Bros. Movie.' To date, 'Wicked' has grossed nearly $700 million globally since its theatrical release on November 22. Universal's decision to shorten the traditional theatrical window has proven beneficial, as PVOD has become a significant revenue stream, contributing over $1.5 billion to the studio's sales since 2020. The film is available for $30 for ownership or $20 for rental, with an exclusive PVOD window lasting over two months before it moves to NBCUniversal's Peacock service. Universal's ongoing strategy reflects a shift in consumer viewing habits and a keen adaptation to post-pandemic market dynamics.