The Walt Disney Co. is bleeding big money on its recent studio releases.
That’s according to box office analyst Valliant Renegade whose recent YouTube video estimated that the House of Mouse has lost a staggering $890 million on its last eight films, including highly anticipated releases The Little Mermaid and Elemental.
Elemental, which features Pixar’s first-ever non-binary character in a theatrically released movie, has become the lowest-grossing debut ever for the animation studio’s opening weekend, according to reports. It earned an estimated $29.5 million over the June 16-18 time period, less than the $31 million in domestic sales that box office experts had predicted. That makes it the worst three-day weekend release in its history behind Pixar’s Toy Story, which made 29.1 million but when adjusted for inflation, Elemental did worse. The film, directed by Peter Sohn, is set in the fictional world of Element City, where “the peoples of fire, water, earth, and air live together.”…