Disney's live-action "Moana" opened at No. 1 and still disappointed: it earned $43 million in the U.S. and Canada against a reported $250 million production cost, according to studio estimates released Sunday [1]. AP did not lead with the ranking. Its headline said the film "flounders."

That gap is the whole story. A first-place finish invites the reading that the remake machine still works, and the animated original is Disney+'s most-watched title. But $43 million is roughly where last year's "Snow White" opened ($42.2 million) before topping out at $205 million worldwide, and it lands 19 months after "Moana 2" opened to a $225 million Thanksgiving record [1]. The franchise did not shrink between films; the format did.

Directed by Thomas Kail, the picture brings back Dwayne Johnson as Maui and introduces Catherine Laga'aia, whose performance drew praise even as critics panned a near shot-for-shot remake now sitting at 34% on Rotten Tomatoes [1]. Paying audiences were warmer: 63% told PostTrak they would "definitely" recommend it, and it drew an A- CinemaScore [1].

Rentrak's Paul Dergarabedian offered a structural read, noting PG oversaturation, with "Minions & Monsters" ($20.5 million) and "Toy Story 5" ($18.5 million) splitting the same families [1]. A weekend crown is a rank, not a recoupment. The number that decides whether this bet paid off, the multiple of that $250 million the film eventually clears worldwide, has not been reported yet.

-- MAYA CALLOWAY, New York