I thought I'd revive this post with a bit from a Jim Hill article posted today. Here's what he said about why "Treasure Planet" flopped:
So why did the rest of the viewing public opt to take a pass on "Treasure Planet"? Again, another interesting wrinkle: according to Disney's own marketing surveys, the number one reason that people said they were opting not to see this movie while it was in theaters was because they were eventually intending to buy "Treasure Planet" when the film came out on video or DVD.
I really find this news to be quite interesting. I've really felt like in the last few years there's been a fundamental shift in the way we watch movies. Part of that is it's becoming more and more apparant that the only reason movies play in a theater these days is to act as an advertisement for the DVD coming out 4-6 months later.
The fact that studios expect to make over 50% of their entire gross in the first two weekends of a theatrical run shows that movies are becoming more and more of an event. But now if you miss the event, there's no worry. You don't wait for the dollar theater, you simply wait for the video release.
Interestingly, Blockbuster has been reporting losses over the last few months because people are preferring to buy movies to renting them. When a rental is 1/3 the price of buying, and with all the extra features taking longer to watch, it's no surprise. It'll be interesting to see how this plays out in the future.
Anyway, back to Disney and Treasure Planet, apparantly with everyone waiting to buy the film on video, it can't truly be called a bomb yet since films are regularly making more money off the video release than in Theaters these days.
I haven't seen TP myself yet, to really judge whether it deserved it's "flop" status or not. So I'm merely reporting and speculating on what other people are saying. I'm really quite intrigued with this shift to waiting to watch movies at the "home theater" and wondering what type of impact it will ultimately have on movies and the movie-going experience in general. I'm certain movie theaters will never die, but I can see more going out of business as this trend continues.