‘Super Mario Bros. Movie’ success gives boost to Nintendo’s IP push
The much-anticipated “The Super Mario Bros. Movie” has made a record-breaking debut at the box office, with the hype also translating into a share price bump.
After opening across North America and 70 international markets over the Easter holiday weekend period, the Illumination and Nintendo co-production has taken in $375.6 million at the box office worldwide, positioning it to become the biggest hit of the year so far and setting a record as the biggest worldwide opening ever for an animated film.
Viewers in Nintendo’s home market have to wait until its April 28 release date, but Nintendo stock shot up 4% in Tokyo on Monday and closed slightly up on Tuesday.
Barron’s rates Nintendo shares as “buy” and “hold.” Serkan Toto, CEO of Tokyo-based gaming consultancy Kantan Games, called the movie “a slam dunk on a global level” for Kyoto-headquartered Nintendo, which is pushing to expand its use of its intellectual property.
Voiced by Hollywood heavyweights Chris Pratt, Charlie Day and Anya Taylor-Joy, “Super Mario Bros. Movie” follows the iconic plumber-turned-action-star through a series of adventures that span the franchise’s universe.
While the critical response has been poor, the film has exceeded even bullish expectations, boosting the Nintendo brand and serving as another example for studio executives of the value of game IP transferred to the silver screen.
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Film and TV adaptations of games have historically elicited underwhelming responses from viewers — a 2003 adaption of Tomb Raider and a 2010 Prince of Persia movie both failed to meet studio expectations — but the tide appears to have turned in recent years: HBO and Sony’s series “The Last of Us” received acclaim this year, while films such as “Sonic 2” and “Pokemon: Detective Pikachu” have seen success.
British gaming insights firm Ampere Analysis found that the number of adaptations of video game-based IP by the TV and movie industries had grown consistently to an average of 20 to 25 movies and TV series per year, according to a 2022 study. As a result “gaming IP has become a battleground in the TV and movie industries.”
While branching into film may be viewed as an easy way to reach audiences, Nintendo icon Shigeru Miyamoto told Variety that the company was weary of backlash, as “fans get outraged and mad” when studios don’t “do justice to the original work.”
He was likely referencing the 1993 live action “Super Mario Bros.,” which did not have Nintendo’s involvement and was made under chaotic circumstances — stories later emerged of drunken actors and explosive fights on set. The movie received a dismal critical response upon release, and has since appeared on multiple “worst films ever made” lists.
The 2023 co-production looks to be a happier arrangement, with Nintendo adding Illumination’s CEO Chris Meledandri to its board of directors in 2021.
In addition to branching into films, Nintendo is making a broader push to better harness its treasure trove of IP and diversify its offerings. While gaming hardware remains the company’s core business, in recent years the company has entered into collaborations with brands from Uniqlo to TAG Heuer, branched into physical retail and opened theme parks in partnership with Universal.
As a continuation of this recent strategy of translating existing IP into new product offerings and experiences, the early success of the film will encourage Nintendo to double down on this approach and strike a lot more deals similar to the company’s arrangement with Illumination, Toto said.
“A sequel is the least we should see in the future, and I believe Nintendo could reach even more people with streaming,” he added.
Source: The Japan Times
