John Chu’s stunningly visual film Wicked (2024) generated $634 million in ticket sales and $100 million more through digital releases, making its mark as one of the biggest films of the year as well as the highest-grossing movie musical in history.
But it was more than just a big-budget hit; its narrative of the unlikely bond between the green-skinned“outcast,” Elphaba (played by Cynthia Erivo) and her roommate, the beautiful and popular Galinda (played by Ariana Grande), struck a chord with audiences through its unforgettable message of transformation and self-acceptance.
The second and final installment of the Wicked franchise, Wicked: For Good, hits theaters Friday, November 21, 2025, and promises to be an even more intense and complex story of Elphaba and Galinda’s relationship—and their new identities as the Wicked Witch of the West and Glinda the Good.
Expectations are high that Wicked: For Good will again “defy gravity” in terms of ticket sales, which will come as a relief to the film industry, which has been struggling in 2025. Compared to the first quarter of 2024, U.S. box office revenue declined 7% year-over-year in 2025. In March alone, it was down roughly 50%, according to The Los Angeles Times.
However, forecasters predict that the positive momentum generated by the first Wicked film will continue with its sequel—sales projections range between $112 million and $115 million for the film’s first weekend alone, according to Deadline.
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5 ways the Wicked franchise impacts the American economy
You might say that over the past two years, the U.S. economy as a whole has benefitted from the magic of Wicked, as the film produced a measurable ripple effect through ticket sales, streaming, tourism, retail, and even local business activity.
Here’s how:
1. The film industry benefits
The value of a blockbuster is easy to track in economic terms. Basically, the more money a movie makes, the more the movie industry as a whole benefits.
According to NBCUniversal, Wicked generated $700 million in global box office sales, with $240.4 million from international audiences and $460.6 million from domestic viewers. This accounted for about 8% of the film industry’s entire $8.7 billion revenue in 2024, as tracked by Statista.
Higher ticket sales help make movie theaters profitable. Their proceeds are used to pay concession vendors and employee payrolls. Blockbusters also enable studios to recoup their investments and reinvest these funds into new projects, like sequels, which keep film crews and their supply chains busy for years to come.
2. At-home audiences grow
While Dorothy Gale makes only a brief appearance in Wicked: For Good, her immortal words deeply resonate: There really is no place like home, especially when it comes to watching movies.
After its massive theatrical release, Wicked transitioned from theaters to digital streaming, or Premium Video on Demand (PVOD), on December 31, 2024, generating $70 million in its first week. This made it the best first week ever for any Universal-produced film, according to NBC Universal.
The brilliant minds who designed Wicked’s distribution model enabled it to enjoy a “hybrid” model of both theatrical and at-home viewers. However, its unusually large post-theatrical revenue stream also helped to expand its value beyond industry norms.
According to The Hollywood Reporter, the film proved that it could remain a hit in theaters while transitioning to home entertainment within 30 days of its release. (Before Wicked changed everything, first-run movies usually took 75 to 90 days to become available for at-home viewing.)
This breakthrough will help to establish new revenue channels for future films, and related industries—like streaming services and digital retailers—stand to benefit.
This trend could even eventually inspire a film to be made available to watch at home the same day it’s released in theaters.
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3. Broadway & touring productions benefit
Wicked may be the prequel to The Wizard of Oz, but it had its genesis on Broadway, and the film’s success has inspired renewed interest in seeing the play live.
Live 365 reported that in November 2024, the Wicked musical became the hottest ticket in New York City. Prices jumped from an average of $166 per ticket in November 2023 to an average $312 per ticket in November 2024, which exceeded the $280 average per-ticket price audiences were paying for Hamilton.
Thanksgiving week is typically one of the strongest weeks on Broadway, and Morningstar reported that Wicked became the best-selling production in the Theater District, raking in $2.93 million, which placed it ahead of The Lion King ($2.88 million) and Hamilton ($2.58 million).
Not bad for a 20-year-old production, but the numbers are even more incredible when you take a look at the production’s impact globally.
Since its initial launch in 2003, Wicked has grossed $1.7 billion on Broadway and $6 billion worldwide, according to NBCUniversal, through both regional tours and international productions.
Increased demand translates to higher revenue for everyone involved in the theater, nearly everywhere there is a theater, from producers to directors, touring casts and extras, stagehands, musicians, and a slew of other workers and suppliers. That adds up to thousands of jobs in everything from costume shops to the construction industry, and most of that money stays in the local economy.
4. Tourism is boosted
Speaking of the theater, marquee shows can drive tens of millions in local spending—both on and off Broadway, something Wicked has more than amply proved.
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According to The Broadway League, during the 2018–2019 season, the most recent season the organization measured, Broadway contributed $14.7 billion to the economy of New York City and supported 96,900 jobs.
Smaller venues around America, such as those in Minneapolis, enjoyed a similar boost. More than 100,000 theatergoers saw the national touring production of Wicked in Minneapolis in 2022. And it wasn’t the first time the production came to the Twin Cities—it was its sixth.
The Broadway League estimated the production’s local economic impact on Minneapolis was around $30.9 million, according to Twin Cities Arts.
That’s because theatergoers don’t just buy performance tickets. They also spend on dining, hotels, transit, and shopping. Municipal and state tax authorities benefit, too.
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5. Retailers shine
Finally, what would the prequel to The Wizard of Oz be without some great swag? The Wicked franchise unleashed an avalanche of fun product partnerships, ranging from toys to clothing, collectibles, and collaborations with Ariana Grande’s personal makeup brand, r.e.m. beauty.
In fact, The Hollywood Reporter states that the original Wicked movie established partnerships with more than 60 brands, including H&M, Gap, Lego, and Bloomingdale’s. This time around, Universal Pictures has dubbed every Wednesday “Wicked Wednesday” by launching new products leading up to Wicked: For Good’s release.
These products result in new jobs in a range of industries, from manufacturing to distribution to retail. It also creates a revenue stream of predictable sales to loyal fans and will go a long way in boosting the country’s retail industry.
This boost could not come at a more critical time, since StoreForce reports that 2025 holiday sales are estimated to post only modest growth of around 1.2% over 2024, due to the rising consumer prices fueling inflation.
