Laika remains sole US stop-motion studio as Tippett closes
Travis Knight's Laika is the only remaining American studio investing in stop-motion animation after Tippett Studio announced its closure.
Box office performance details
The film Wildwood earned $25 million domestically and $35 million globally during its opening weekend. It finished third at the box office with another $7.5 million in earnings last week. Critics gave the movie an A CinemaScore and a 99 percent rating on Rotten Tomatoes.
Industry financial challenges
The production reportedly cost $100 million while ticket sales covered only about one tenth of that amount. Stop-motion animation requires building physical puppets and sets by hand which makes the process more expensive than traditional methods. This labor force is shrinking as fewer studios can afford the high costs.
Studio closure announcement
Tippett Studio has announced it is closing its doors after helping Hollywood transition from puppets to pixels. Laika now stands alone as the only American studio still investing nine figures in this art form. The company exists largely because Phil Knight's Nike fortune absorbs losses that would shutter other businesses.
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