"等了9年，爽到了，但还是大失所望。" 上映仅2天，《疯狂动物城2》直接靠口碑拉回热度。关于《疯狂动物城2》的讨论，一条接一条登上热搜。 然而没想到第一波观众反馈，竟然是如此两极分化。 喜欢它的观众大有人在。一大批自来水争相在朋友圈安利。 与此同时，也有很多不喜欢它并给差评的人。一些批评者主要聚焦在"中文配音"上，认为中配看得"出戏"，没有字幕有时又听不清，然而当地影院中配版 的排片率又高于原版，不得不看中配。 更不用说， 这部电影上映前还"翻车"了一波。先是宣传期拉来几个明星配音，"演戏自己不配音，却给动画配音"，被质疑"不专业"，再加上迪士尼此前续 拍各种动画续集翻车等先例出现，也让很多人对它并不看好。"感觉又被迪士尼狠狠背刺了"。 不过，从现实来看还是那句话：迪士尼还是迪士尼，网上没赢过，线下没输过。 《疯狂动物城2》中国内地预售票房突破3.1亿，直接刷新进口动画电影纪录。 这个数字是什么水平？相当于还没上映，就顺利实现了前作《疯狂动物城》票房的6.5%。 有人预测，它有望成为继2019年《复联4》之后第一部票房过20 亿的进口片。 被骂惨的《疯狂动物城2》，凭什么还能狂卖中国人3个亿？ 最疯狂营销：遍 ...

Core Insights - Disney is leveraging the release of "Zootopia 2" as a strategic move to revitalize its brand and engage younger audiences, creating a strong emotional connection through character-driven narratives and extensive marketing efforts [1][10][20] Box Office Performance - "Zootopia 2" achieved a pre-sale box office of 310 million yuan, breaking the record for animated films in China, with total box office projections reaching 2.4 billion yuan [3][23] - The film's initial screening saw a high occupancy rate of 96.8% in theaters, indicating strong demand and audience interest [3] Marketing and Collaborations - Disney has engaged in nearly 60 collaborative marketing activities with various brands, including Luckin Coffee and Miniso, to create a comprehensive consumer experience around the film [4][8] - The film's promotional strategy includes themed flights and exclusive merchandise, enhancing the overall brand engagement [5][11] Audience Engagement - The film's narrative focuses on the relationship between the main characters, Judy and Nick, which resonates with younger audiences, leading to increased social media engagement and fan-driven content creation [12][14] - Disney's strategy includes creating "sugar points" within the film to encourage audience investment in the characters' relationships, further driving viewership [14][15] Merchandise and Consumer Spending - Fans are spending significantly on merchandise related to "Zootopia 2," with reports of individuals spending upwards of 10,000 yuan on various themed products [6][9] - The demand for limited-edition items has led to rapid sell-outs and high resale values on secondary markets, indicating strong consumer interest [8][9] Theme Park Impact - The release of "Zootopia 2" has resulted in a 300% increase in ticket bookings for the Shanghai Disney Resort, showcasing the film's positive impact on park attendance [18][20] - Disney has adapted its theme park offerings to align with the film's release, enhancing character interactions and themed events to attract visitors [22] Financial Context - Despite the success of "Zootopia 2," Disney has faced challenges in recent years, including underperforming films and declining theme park revenues, highlighting the importance of this release for the company's recovery [23][24]

本报特约记者 董 铭 物城2》剧照 今年北美电影市场遇冷 随着2025年临近尾声，好莱坞对剩下的两部大片《疯狂动物城2》和《阿凡达3：灰与烬》的市场表现寄 予厚望。"动物城和阿凡达能够挽救2025年的票房吗？"美国《综艺》分析称，今年北美电影市场的热度 远没有达到预期，春季档和暑期档还行，但一入秋后就明显遇冷了，"热门影片的供应并不稳定，观众 对曾经可靠的IP的兴趣降低，明星演员也失去了风头，电影院不得不经历一个动荡的11月"。 到目前为止，北美票房仅比去年同期微增3%，而在年初时，好莱坞业内对于2025年的总票房预期是93 亿至95亿美元。虽然《星际宝贝史迪奇》《我的世界大电影》《侏罗纪世界：重生》《罪人》和 《F1：狂飙飞车》获得了不错成绩，但不足以弥补《美国队长4》《创：战神》等片的惨败，就连《碟 中谍8：最终清算》也没有达到预期，且自8月的《坏蛋联盟2》之后，就再也没有适合家庭观影的大片 了，"因此，北美市场更加期盼《疯狂动物城2》这样的合家欢作品，希望能像《星际宝贝史迪奇》那样 成为今年第二部全球票房突破10亿美元的大片"。 《疯狂动物城2》要想获得10亿美元票房，那就更离不开中国这一全球第二大电影 ...

【环球时报特约记者 董铭】备受关注的迪士尼年度重磅作品《疯狂动物城2》26日在中美等全球主要市场同步上映，该IP依靠多年来的成熟运营，以及第一 部积攒的超高人气和口碑，全球票房前景被广泛看好，有望冲击10亿美元大关。这部影片在中国市场的表现，也被视为好莱坞电影在华发展的晴雨表。 猫眼专业版显示，26日上映前，该片猫眼平台想看人数已达234万，上映日排片比高达65%，不少影院黄金场次都已坐满，零点场的上座率接近50%，其中 IMAX零点场票房374万元，占比为29%。据猫眼专业版预测，该片在中国票房有望超过25亿元，登顶今年最卖座的好莱坞电影及进口片。 随着2025年临近尾声，好莱坞对剩下的两部大片《疯狂动物城2》和《阿凡达3：灰与烬》的市场表现寄予厚望。"动物城和阿凡达能够挽救2025年的票房 吗？"美国《综艺》分析称，今年北美电影市场的热度远没有达到预期，春季档和暑期档还行，但一入秋后就明显遇冷了，"热门影片的供应并不稳定，观众 对曾经可靠的IP的兴趣降低，明星演员也失去了风头，电影院不得不经历一个动荡的11月"。 到目前为止，北美票房仅比去年同期微增3%，而在年初时，好莱坞业内对于2025年的总票房预期是 ...

Core Viewpoint - The prospects for a Santa Claus rally in 2025 are improving as the economic environment stabilizes and consumer confidence begins to recover [1][14]. Market Outlook - Analysts are optimistic about a Santa Claus rally, with predictions that the S&P 500 could surpass 7,000, driven by reduced recession risks and easing fiscal policies [2]. - Consumer confidence data indicates a mixed outlook, suggesting that discount retailers may experience higher growth during the festive season [3][14]. Consumer Confidence - The Conference Board Consumer Confidence Index decreased by one point to 94.6 in October, indicating potential favor for defensive stocks during the holiday season [3]. - The Expectations Index fell by 2.9 points to 71.5, suggesting a focus on cost-effective shopping, which may benefit discount retailers [4]. Company Highlights TJX Companies (TJX) - TJX operates brands like TJ Maxx and Marshalls, focusing on off-price merchandise, which is less vulnerable to online competition [5]. - The company plans to expand its store count from 5,100 to at least 7,000 locations globally, offering discounts of 20% to 60% [6]. - UBS maintains a Buy rating for TJX with a price target of $172, anticipating strong holiday sales [7]. Walmart (WMT) - Walmart is a leading discount retailer in the U.S., with a significant presence of 10,000 stores across 19 countries, traditionally seeing increased sales during the holiday season [8][9]. - The company reported Q3 2025 earnings per share of 58 cents, exceeding expectations, and raised its net sales growth forecast to between 4.8% and 5.1% for the year [9][10]. Walt Disney (DIS) - Disney, while not a discount retailer, is well-positioned for the holiday season due to its competitively priced entertainment offerings [11]. - The company has a diverse portfolio of intellectual properties and has recently turned its Disney+ streaming service profitable, gaining 2.6 million new subscribers in Q3 [12][13].

Core Viewpoint - The economic landscape is improving, leading to optimism for a Santa Claus rally in the stock market, particularly benefiting consumer spending and defensive stocks [1][14]. Market Outlook - Analysts are bullish on the Santa Claus rally, with predictions that the S&P 500 could exceed 7,000, supported by easing recession risks and favorable fiscal policies [2]. - Consumer confidence data indicates a mixed outlook, suggesting that discount retailers may experience higher growth during the festive season [3][4]. Key Retail Stocks TJX Companies (TJX) - TJX operates off-price retail brands like TJ Maxx and Marshalls, which are less threatened by online shopping due to their unique business model [5]. - The company plans to expand its global presence from 5,100 to at least 7,000 stores, offering significant discounts of 20% to 60% [6]. - UBS maintains a Buy rating for TJX with a price target of $172, indicating strong potential for holiday sales [7]. Walmart (WMT) - Walmart is a leading discount retailer in the U.S., with a significant presence of 10,000 stores across 19 countries, traditionally seeing increased sales during the holiday season [8][9]. - The company reported Q3 2025 earnings per share of 58 cents, exceeding expectations, and raised its net sales growth forecast to between 4.8% and 5.1% for the year [10]. Walt Disney (DIS) - Disney, while not a discount retailer, is well-positioned for price-conscious consumers due to its competitively priced entertainment offerings [11]. - The company has seen growth in its Disney+ and Hulu services, gaining 2.6 million subscribers in the last quarter, which is expected to continue as families seek entertainment during the holidays [12][13].

Group 1 - The article expresses gratitude for being a Walt Disney investor despite the stock's decline over the past year and five years [2][4] - Disney is recognized as a significant part of the author's investment journey, highlighting the importance of personal connections to investments [5][6] - The company has historically made strategic acquisitions to enhance its growth and success, including major deals with Capital Cities/ABC, Pixar, Marvel, Lucasfilm, and Twenty-First Century Fox [9][10] Group 2 - Disney's content is emphasized as crucial for operating its theme parks and overall success, indicating that content is a key driver of the company's value [9] - The article reflects on the importance of investing in companies and industries that one knows well, suggesting that personal experience can lead to better investment decisions [8]

Core Insights - The Walt Disney Company is valued at $184.4 billion and operates across various entertainment sectors including film, television, streaming, publishing, and theme parks [1] - Disney is classified as a large-cap stock, with significant direct-to-consumer streaming services like Disney+ and Hulu, in addition to its global theme parks and resorts [2] Stock Performance - Disney shares have decreased by 17.3% from their 52-week high of $124.69 and have fallen 12.2% over the past three months, underperforming the Communication Services Select Sector SPDR ETF Fund's (XLC) 2.5% increase during the same period [3] - Year-to-date, DIS stock has declined by 7.2%, lagging behind XLC's 18.1% rise, and has dropped 10.9% over the past 52 weeks compared to XLC's 17.4% gain [4] Financial Results - In Q4 2025, Disney reported an adjusted EPS of $1.11, which was better than expected, but shares fell 7.8% due to missing revenue expectations of $22.46 billion [5] - The traditional TV unit experienced a 21% profit decline to $391 million, and entertainment operating income dropped by one-third, overshadowing gains in streaming and parks [6] Competitive Landscape - Rival Netflix has outperformed Disney, with its shares increasing by 20.6% over the past 52 weeks and 17.1% year-to-date [6] Analyst Outlook - Despite recent underperformance, analysts maintain a moderately optimistic view on Disney, with a consensus rating of "Moderate Buy" and a mean price target of $133.73, indicating a potential upside of 29.4% from current levels [7]

Core Insights - Disney's highly anticipated animated film "Zootopia 2" has officially premiered, with significant box office performance expected, particularly in East Asia [1][4] - As of the report, "Zootopia 2" has achieved a global box office close to $48 million, equivalent to approximately 340 million RMB, with a Rotten Tomatoes freshness rating of 93% [1] - The film has set a record for pre-sale box office in China, surpassing 310 million RMB, making it the highest pre-sale animated film in Chinese cinema history [1] Film Details - "Zootopia 2" is co-directed by Byron Howard and Jared Bush, with a voice cast including Jason Bateman, Ginnifer Goodwin, and Shakira, among others [4] - The storyline involves a reptile character named Gary the Snake causing chaos in Zootopia, leading the main characters Judy and Nick to go undercover in a remote area of the city [7] Audience Engagement - The film's pre-sale success indicates strong audience interest, with expectations for ticket discounts and rebates for moviegoers [9]

Core Insights - The release of Disney's animated film "Zootopia 2" has generated significant box office revenue, with a first-day domestic box office of 1.74 billion and a global box office of 57.64 million [2][4] - The film's marketing strategy in China has involved over 60 brand collaborations, creating a highly commercialized IP marketing environment [5][17] - Disney views the Chinese market as a key area for growth, leveraging the film's popularity to test a new "IP emotional economy" model [13][17] Box Office Performance - The first-day box office reached 1.74 billion, with a cumulative box office of 1.88 billion and a projected total box office of 25.64 billion [4][12] - The film's global box office stands at 57.87 million, with significant contributions from the domestic market [4][12] Marketing Strategy - The marketing campaign is characterized as a large-scale social marketing experiment, integrating various sectors such as food, fashion, and automotive [5][12] - Collaborations with brands like Luckin Coffee and Uniqlo have resulted in significant sales increases, showcasing the effectiveness of the IP in driving consumer engagement [7][10] Brand Collaborations - The film has seen partnerships with brands across multiple industries, including food and beverage, apparel, and automotive, creating a pervasive presence in urban environments [10][12] - The collaboration with automotive brands has provided a visually impactful marketing strategy, enhancing brand visibility [12][13] Consumer Engagement - The emotional connection of characters Judy and Nick resonates with young consumers, making the film's merchandise more appealing [15][16] - The trend of emotional consumption is growing, with brands increasingly focusing on leveraging IP for growth rather than mere aesthetics [15][17] Market Potential - Disney's strategic focus on the Chinese market reflects its recognition of the region's unique consumer dynamics and potential for long-term value [13][14] - The success of "Zootopia 2" in China is indicative of the country's evolving role as a vibrant and creative landscape for international IP [17]