Black Panther, a movie that features the first black superhero lead on screen, is proving that diversity pays off.
The movie features a predominantly black cast, and is directed by an African-American director, Ryan Coogler. In its first weekend, the Marvel movie opened with $361 million in ticket sales from theaters worldwide, excluding countries with delayed release like Russia, Japan, and China. Black Panther was able to smash box office records even without China, the world's second-largest movie market. The movie dominated in Africa, with the biggest movie opening of all time in Nigeria and Kenya. Audience enthusiasm has lead the superhero movie to become the fifth-highest debut of all time.
Given the large revenue that Black Panther has accrued shows that it might behoove the film industry going forward to include more diversity, whether on the big screen or on streaming and other entertainment platforms like Netflix.
"One by one, these unwritten Hollywood rules about what audiences supposedly will and will not support are falling by the wayside," asserted Exhibitor Relations Senior Analyst Jeff Bock. "I think about it like a wall crumbling...in terms of 'Black Panther,' no studio can say again, 'Oh, black movies don't travel, overseas interest will be minimal.'" As of today, Black Panther has accrued over $1 billion in sales. With its diverse representation, the movie's domination over the box office is not likely to stop anytime soon.
The positive effect of diversity on profit has been proven repeatedly by other films such as Get Out, which satirized race relations in the U.S. and earned $253 million on a $4.5 million budget, and Wonder Woman, which featured a female superhero protagonist, and hit a revenue of $821.1 million. The animated movie Coco, supported by an all-Latinx cast, gained more than $730 million world wide and recently won an Oscar for Best Animated Picture of 2018.
Black Panther has exhibited that there diversity benefits revenue, but also society as well. Along with the debut of Black Panther, owner of Marvel Entertainment and mass media company Walt Disney Co. (NYSE: DIS) donated $1 million to the Boys and Girls Club of America to aid the expansion of the organization's STEM programs. The donation was made in part because Black Panther focuses on technology and science in the movie, particularly through the character of tech whiz Shuri, who serves as a role model for young viewers, especially young girls.
Although Black Panther has received mostly good reviews and positive public reactions, some audiences are still uncomfortable with increased diversity. In China, for example, while the movie has made $66 million during its first weekend, moviegoers have expressed discomfort with the predominantly black cast, calling it "too black." Nevertheless, the general trend seems to be that audiences are growing more progressive. Films like the U.S. remake of Ghost in the Shell, which cast a white actress in a role originally written for a Japanese woman, only made $169 million with a $110 million budget. The movie's dismal box office revenue was primarily due to audience backlash regarding the casting of the main character, which was perceived by many to be whitewashing.
The entertainment industry must keep apace of audiences who are increasingly aware of racial problems, and who are increasingly diverse themselves.