Disney Plus is eating any traditional cinema revenue, looking at box office ticket sales no longer really works in this new world.
Disney, as a company, is in the middle of a mutation. The traditional block buster is dead, part of that is restructuring the company behind a new production and distribution process.
I think Dreamworks shows the traditional blockbuster isn't dead look at Puss in Boots: The Last Wish. My kids made me take them to see that 3 times, and each time I thought it was pretty decent for a kids movie.
Disney is a truly massive company. Looking at the performance of children's movies to gauge the overall health of Disney the company is sort of like looking at Whole Foods to gauge the overall health of Amazon.
Disney, as a company, is in the middle of a mutation. The traditional block buster is dead, part of that is restructuring the company behind a new production and distribution process.