Universal Announces ‘Trolls 3’ (Yes, In Theaters)

Fresh off the press, as they say, Universal has announced that we’re getting a third Trolls movie. The thus-far unnamed Trolls threequel (I’m voting for The Big Balloon Adventure, The Deadly Art of Illusion or The Way of All Flesh) will take the place of the “untitled DWA movie” previously slotted for September 22, 2023 but will now open November 17, 2023, or two years to-the-weekend from this past Fri-Sun frame. Trolls: World Tour shattered the theatrical window in April of 2020 by going out concurrently in what few theaters were open in the early days of the pandemic and on PVOD ($20 for a 48-hour rental). However, this film will get the now-standard 17-day theatrical window (really closer to 21 days in terms of when these films arrive on PVOD) or a 31 day window if by some miracle it opens above $50 million.

While the PVOD figures beyond the first 19 days (for which Universal bragged of earning around $100 million in PVOD grosses) are a mystery, it topped the various VOD platforms (iTunes, Vudu, Fandango, Google, YouTube, Amazon, etc.) for much of summer 2020 and was clearly a much-rented item. Of course, Trolls: World Tour was the first of its kind, a $125 million “intended for global theatrical release” kid-friendly sequel to a blockbuster predecessor ($350 million worldwide in late 2016) which was available at home for $20. It was also the first such title after weeks and weeks of families being stuck at home in the earliest days of the Covid-19 pandemic. PVOD is now an almost expected revenue window between theatrical and conventional EST, VOD and DVD, so it’s a “when everyone’s special no one is” situation. It’s also a sign that theatrical still matters.

One year ago, Universal and DreamWorks Animation released The Croods: A New Age, the first “big” offering since Tenet tried like hell to revive the theatrical industry amid continued closures and a soft domestic performance. The animated sequel earned $14.5 million over the Wed-Sun debut, and went on to gross $59 million domestic and $213 million worldwide on a mere $65 million budget. It was a clear-cut hit even before its robust PVOD business beginning in mid-December 2020. The Boss Baby: Family Business debuted in theaters and on Peacock and grossed $58 million domestic and just $128 million worldwide on an $82 million budget. Alas, there will likely be no Boss Baby threequel where (as is the law with “part 3” installments) Boss Baby is stripped of everything that makes him special but still must save the day and rediscover that his real heroism comes from within.

Even before Covid made a mess of the world, it was an open question as to whether Trolls: World Tour would be another underperforming “for kids only” sequel to a four-quadrant “adults are curious too” franchise-starter. Nonetheless, I’m guessing Trolls Into Darkness or whatever will be budgeted at a level where Croods 2-level business (as opposed to The Croods, which grossed $587 million on a $135 million budget in 2013 or Boss Baby which grossed $527 million on a $125 million budget in 2017) will be just fine. Oh, and Trolls: Holiday in Harmony, a new holiday special with the voices of Anna Kendrick and Justin Timberlake, will debut on NBC this coming Friday at 9:00 pm. If the Kung Fu Panda holiday special from 2010 is any indication, Holiday in Harmony will subtly set up the prime emotional conflict for Trolls 3.

Anyway, I said way back in the day that perhaps the only way we’d know if Trolls: World Tour (which earned $48 million overseas and around $6 million domestic) was a success would be if Universal green-lit a theatrical Trolls 3. Well, they just did, and this isn’t a face-saving “right as the current film struggles in theaters” announcement meant to sell the perception of success. If they didn’t think Trolls 3 was a viable commercial play, no one would have cared if they quietly released a straight-to-Peacock feature or sent the third Trolls to PVOD instead of theaters. It’s odd that Trolls 3 would inspire huzzahs about the staying power and long-term future of theatrical exhibition, but that’s where we are. With a pandemic still in-play and Wall Street salivating over streaming, every theatrical release is now a glorified underdog.