Podcast Summary: The Journal – "Why Hollywood Is Betting Big on ‘Wicked’"

Episode Overview Released on November 25, 2024, this episode of The Journal, a collaboration between The Wall Street Journal and Gimlet, delves into Hollywood's massive investment in the new Wicked movie adaptation. Hosted by Ryan Knutson and featuring insights from Eric Schwartzel, the episode explores the strategic marketing efforts, fanbase dynamics, casting decisions, and the broader implications for Hollywood's current landscape.

1. The Unprecedented Marketing Push for Wicked

Timestamp: [00:08] – [02:09]

Eric Schwartzel begins by highlighting the ubiquitous presence of Wicked promotions this year. From celebrity appearances at major events to partnerships with everyday brands, Wicked has transcended its identity as a movie to become a cultural phenomenon.

• Ryan Knutson: "This year, it's been almost impossible to go anywhere without seeing some kind of promotion for the movie Wicked." ([00:08])

• Eric Schwartzel: "The marketing push is one of the biggest Hollywood has ever seen." ([00:26])

Key Points:

• Wicked promotions began with movie stars at the Super Bowl nine months prior.
• The campaign extended to the Summer Olympics, the Today show, and retail giants like Target and Starbucks.
• Products themed around Wicked now range from clothing and nail polish to dolls and even holiday displays at Bloomingdale's.

Notable Quote:

"Everything that you can imagine that could be wikified is being wikified." – Eric Schwartzel ([01:33])

2. The Legacy and Evolution of Wicked

Timestamp: [03:40] – [07:45]

Schwartzel shares his personal connection to Wicked, recalling his early fandom and the show’s origins. Originally a novel by Gregory Maguire in 1995, Wicked reimagines the story of the Wicked Witch of the West from The Wizard of Oz, focusing on her friendship with Glinda.

• Eric Schwartzel: "The author, Gregory Maguire, had this idea of retelling The Wizard of Oz, but in a way that takes place largely before the film and the book, but also recasts characters that we know well." ([05:19])

Key Points:

• Wicked transitioned from a novel to a Broadway musical in 2003, eventually becoming one of Broadway’s longest-running shows with over 65 million attendees and $5 billion in ticket sales.
• The musical faced skepticism initially due to its high budget and reliance on special effects but succeeded thanks to its compelling songs and storytelling.
• Wicked has cultivated a dedicated fanbase akin to superhero enthusiasts, deeply engaging with the show's lore and multiple interpretations of its characters.

Notable Quote:

"The songs are significantly better than your average Broadway show. They stick with you." – Eric Schwartzel ([06:47])

3. Transitioning Wicked to the Big Screen

Timestamp: [07:45] – [13:26]

Despite its Broadway success, the transition to a film adaptation required careful consideration to avoid undermining the live show's popularity. Universal, which owns the adaptation rights, deliberated extensively over the timing and casting to ensure the film’s success without cannibalizing ticket sales.

• Eric Schwartzel: "They knew that doing it with the wrong cast or doing it in a ham-handed way could just hurt the property overall." ([09:19])

Key Points:

• Universal prioritized maintaining the loyalty of Wicked’s fanbase, leading to delays in the film’s production to perfect the script and casting.
• The casting of Ariana Grande as Glinda and Cynthia Erivo as Elphaba was met with widespread discussion and approval from fans.
• The production involved grandiose efforts, including planting nine million tulips to create a visually stunning backdrop.

Notable Quotes:

"If Wicked has such a loyal fan base though, why go so big on marketing? Because aren't its millions of fans likely to go see the movie anyway?" – Ryan Knutson ([15:05])

"We're in a moment right now where the moviegoer...now have to really fight for that dominance." – Eric Schwartzel ([13:31])

4. The Flood the Zone Marketing Strategy

Timestamp: [13:26] – [17:59]

Universal implemented a "flood the zone" marketing strategy to ensure Wicked permeated every aspect of pop culture. This approach mirrored successful campaigns like last year's Barbie movie, utilizing extensive partnerships and media presence to maximize visibility.

• Ryan Knutson: "The movies compete with so much else out there for our Pop culture time. An all out campaign...is what you need to do to really capture the zeitgeist today." ([13:07])

Key Points:

• Marketing partnerships spanned various industries, including automotive (Lexus), retail (Build-A-Bear, Forever 21), beauty (Ulta), and more.
• These partnerships ensured that Wicked was featured in diverse settings, from TV shows like Today and SNL to major events like the Thanksgiving Day Parade.
• The strategy aimed to expand the movie's reach beyond existing fans, targeting broader audiences who might not typically engage with musicals.

Notable Quote:

"We're going to be just short of obnoxious." – Head of Marketing at Universal ([17:31])

5. Achieving Box Office Success and Future Implications

Timestamp: [17:59] – [20:24]

The Wicked movie debuted with a record-breaking opening weekend, grossing $163 million globally—the highest for a film based on a Broadway musical. This success underscores the effectiveness of Universal's marketing strategy and raises questions about Hollywood's future tactics.

• Ryan Knutson: "What does all this say about Hollywood in 2024?" ([18:29])

Key Points:

• Wicked's success is a testament to the power of coordinated marketing and the enduring appeal of a beloved story.
• The episode speculates on whether this strategy will be sustainable, especially with the upcoming release of Wicked Part 2.
• There are inherent risks in such aggressive marketing, including potential audience fatigue and backlash if the campaign oversteps.

Notable Quotes:

"Whenever you see Wicked on the subway or you see Wicked at an NFL game...I think in the context of Hollywood, there's another angle where it looks like a last grasp." – Eric Schwartzel ([18:29])

"I think the biggest risk is just like, everyone's saying, enough already." – Eric Schwartzel ([17:17])

6. Final Thoughts and Industry Impact

Timestamp: [20:07] – [20:24]

Ryan and Eric conclude by reflecting on the implications of Wicked's success for Hollywood, emphasizing the delicate balance between effective marketing and overexposure.

Key Points:

• If Wicked continues to perform well, it could set a precedent for future adaptations of stage musicals.
• A failure, however, might dampen enthusiasm for similar projects and highlight the pitfalls of oversaturation.

Closing Quote:

"Just short of obnoxious." – Ryan Knutson referring to the marketing strategy ([20:07])

Conclusion This episode of The Journal provides an in-depth exploration of Hollywood's strategic investment in the Wicked movie adaptation. Through expert analysis and engaging discussions, Ryan Knutson and Eric Schwartzel illuminate the complexities of modern film marketing, the value of loyal fanbases, and the broader trends shaping the entertainment industry in 2024.