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A Decade-Long Search for a Battery That Can End the Gasoline Era

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A Decade-Long Search for a Battery That Can End the Gasoline Era

On a frigid day in early January, as she worked in her office in the Boston suburb of Billerica, Mass., Siyu Huang received a two-word text message.

“Spinning wheels,” it said. Attached was a short video clip showing a car on rollers in an indoor testing center.

To the untrained eye there was nothing remarkable in the video. The car could have been getting its emissions tested at a Connecticut auto repair shop (except it had no tailpipe). But to Ms. Huang, the chief executive of Factorial Energy, the video was a milestone in a quest that had already occupied a decade of her life.

Ms. Huang, her husband, Alex Yu, and their employees at Factorial had been working on a new kind of electric vehicle battery, known as solid state, that could turn the auto industry on its head in a few years — if a daunting number of technical challenges could be overcome.

For Ms. Huang and her company, the battery had the potential to change the way consumers think about electric vehicles, give the United States and Europe a leg up on China, and help save the planet.

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Factorial is one of dozens of companies trying to invent batteries that can charge faster, go farther, and make electric cars cheaper and more convenient than gasoline vehicles. Transportation is the biggest source of man-made greenhouse gases, and electric vehicles could be a potent weapon against climate change and urban air pollution.

The video that landed in Ms. Huang’s phone was from Uwe Keller, the head of battery development at Mercedes-Benz, which had been supporting Factorial’s research with money and expertise.

The short clip, of a Mercedes sedan at a research lab near Stuttgart, Germany, signaled that the company had installed Factorial’s battery in a car — and that it could actually make the wheels move.

The test was an important step forward in a journey that had begun while Ms. Huang and Mr. Yu were still graduate students at Cornell University. Until then, all their work had been in laboratories. Ms. Huang was excited that their invention was venturing into the world.

But there was still a long way to go. The Mercedes with a Factorial battery hadn’t yet been taken out on the road. That was the only place the technology really mattered.

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Many start-ups have produced solid-state battery prototypes. But no American or European carmaker has put one into a production vehicle and proved that the technology could survive the bumps, vibrations and moisture of the streets. Or if any have, they have kept it a secret.

In late 2023, Mr. Keller, a veteran Mercedes engineer, proposed to Ms. Huang that they try.

“We’re car guys,” Mr. Keller said later. “We believe in things really moving.”

Ms. Huang stands out in a niche dominated by men from Silicon Valley. Some brag about their 100-hour workweeks; she believes in a good night’s sleep. “Having a clear mind to make the right decision is more important than how many hours you work,” she said.

She is approachable and laughs easily, but also projects determination. She works from a sparsely decorated office in Billerica that looks out on a patch of forest crossed by power lines. The furnishings include a plain black bookcase, stocked with a few technical volumes, that she inherited from a previous tenant. Her diplomas from Cornell — a Ph.D. in chemistry and a master’s in business administration — hang on the wall.

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Ms. Huang grew up in Nanjing, China, where she was in an elementary school program that had her gather environmental data. The program instilled an interest in chemistry and an awareness of the vehicle exhaust and industrial pollution choking Nanjing’s air. She realized, she recalled, that “we need to grow a planet that’s healthier for human beings.”

In a dormitory at Xiamen University on China’s southern coast, where she studied chemistry, she saw an advertisement for a Swedish exchange program. After spending two years there, she and Alex, whom she had known since they were students in China, were both accepted to doctoral programs in Cornell’s chemistry department. She arrived in Ithaca, N.Y., in 2009 with $3,000, which she had managed to save from her Swedish scholarship. They have both since become U.S. citizens.

They were star students, said Héctor Abruña, a professor at Cornell known for his research in electrochemistry. He still has a picture on his office bookshelf of himself with Mr. Yu and Ms. Huang in their commencement robes.

With an idea that grew out of Dr. Abruña’s lab and some seed money from the State of New York, Mr. Yu and Ms. Huang founded the company that later became Factorial while she was still completing her business degree.

“They are extremely dedicated and extremely bright,” said Dr. Abruña, who continues to advise Factorial. “Straight shooters — zero BS.”

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Mr. Yu is now Factorial’s chief technology officer. The company is, in that sense, a family operation. Ms. Huang is reticent about their private life, declining to say even how many children they have.

Initially the company focused on improving the materials that allow batteries to store energy. That changed after Mercedes invested in Factorial in 2021. Mercedes was looking for a bigger technological leap and encouraged Factorial to pursue solid state.

The technology has that name because it eliminates the liquid chemical mixture, known as an electrolyte, that helps transport energy-laden ions inside a battery. Liquid electrolytes are highly flammable. Replacing them with a solid or gelatinlike electrolyte makes batteries safer.

A battery that doesn’t overheat can be charged faster, perhaps in as little time as it takes to fill a car with gasoline. And solid-state batteries pack more energy into a smaller space, reducing weight and increasing range.

But solid-state batteries have one big drawback that explains why you can’t buy a car with one today. Such battery cells are more prone to grow spiky irregularities that cause short circuits. Vast riches await any company that can overcome this problem and develop a battery that is durable, safe and reasonably easy to manufacture.

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Despite obvious differences between Factorial and Mercedes — the start-up has a little more than 100 employees, compared with 175,000 — Ms. Huang’s working style meshed with the culture at Mercedes and its roots in Swabia, the region around Stuttgart where people are known for their no-nonsense approach and restraint.

Mr. Keller found Ms. Huang’s low-key, factual manner to be a welcome contrast to the hype and unfulfilled promises that are pervasive in the battery and technology industries. Factorial, he said, “has not been announcing, announcing, announcing and not delivering.”

It’s an axiom in the battery business that producing a cool prototype is the easy part. The challenge is figuring out how to make millions of solid-state batteries at a reasonable price.

Factorial confronted that problem in 2022, setting up a small pilot factory in Cheonan, South Korea, a city near Seoul known for its tech industry. The project became, in Ms. Huang’s words, “production hell” — the same phrase Elon Musk used when Tesla was struggling to mass-produce a sedan and nearly went bankrupt.

To make money, a battery factory can’t produce too many defective cells. Ideally the yield, the percentage of usable cells, should be at least 95 percent. Hitting that target is devilishly difficult, involving volatile chemicals and fragile separators layered and packaged into cells with zero margin for error. The machinery doing all this is encased in Plexiglas chambers and overseen by workers dressed in head-to-toe protective gear to prevent contamination.

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Dozens of companies are trying to mass-produce solid-state cells, including big carmakers like Toyota and smaller ones like QuantumScape, a Silicon Valley start-up backed by Volkswagen. Mercedes, hedging its bets, is also working with ProLogium, a Taiwanese company.

Nio, a Chinese carmaker, sells a vehicle with what it advertises as a solid-state battery. Analysts say the technology is less advanced than what Factorial is developing, offering fewer advantages in weight and performance. But there is little doubt that Chinese companies are investing heavily in solid state. Nio did not respond to a request for comment.

Every company has its own closely guarded recipes and manufacturing processes. “It’s difficult to say which technology will win,” said Xiaoxi He, a technology analyst at IDTechEx, a research firm.

Partly because solid-state batteries are so difficult to manufacture, many auto executives are skeptical that they will make commercial sense anytime soon. Shares in many solid-state battery start-ups have plunged, and management turmoil is common.

Factorial has insulated itself from the harsh judgments of Wall Street by never selling stock. Its funding comes from private investors including WAVE Equity Partners, a Boston firm, and partners that include the South Korean automaker Hyundai Motor; and Stellantis, which next year plans to test Factorial batteries in Dodge Charger muscle cars. It also has a partnership with LG Chem, a South Korean company that makes battery materials.

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Projections of how soon solid-state batteries would be available have proved overly optimistic. Toyota displayed a futuristic prototype in 2020, but the company is still years away from selling a car with a solid-state battery.

Kurt Kelty, a vice president at General Motors in charge of batteries, is among those who will believe it when they see it. “We’re not banking on solid state,” Mr. Kelty said.

In the beginning, Factorial’s prototype assembly line in South Korea had a yield of just 10 percent, meaning 90 percent of its batteries were faulty. Despite her preference for a good night’s sleep, Ms. Huang often had to wake up at 4 a.m. to deal with problems at the factory, which was operating around the clock. She was in South Korea at least once a month.

“There were always issues,” she said. “There was a point, I was like, I don’t even know if we can make it.”

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By 2023, Factorial had produced enough cells suitable for an automobile that Mr. Keller, a soft-spoken, amiable man who has worked at Mercedes for 25 years, began thinking about installing them in a car. The cost and the risk of failure were high enough that he sought approval from his bosses. Armed with PowerPoint slides, Mr. Keller went to Ola Källenius, an imposing Swede who is chief executive at Mercedes.

Mr. Källenius’s office is at the top of a glass and steel high-rise in the middle of a sprawling manufacturing and development complex beside the Neckar River in Stuttgart.

Mr. Keller argued that road testing would help determine, among other things, whether the batteries would work with air cooling alone. If so, that would eliminate the need for a heavier, more costly liquid-cooled system.

Mr. Källenius signed off on the project, reasoning that a tangible goal would motivate the team and hasten development. He drew an analogy to Formula 1 racing. “If you’re chasing the leader, and suddenly you can see him, you get faster,” Mr. Källenius recalled.

Ms. Huang was a bit surprised when, in late 2023, Mr. Keller told her that Mercedes wanted to put the cells in a working vehicle. “We didn’t realize it was coming so soon, honestly speaking,” she said with a laugh.

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But by June 2024, Factorial had managed to produce enough high-quality cells to announce that it had begun delivering them to Mercedes. In November, the factory in South Korea hit 85 percent yield, the best result yet. Ms. Huang and the Korean team celebrated by going out to a barbecue joint.

Mercedes still had to figure out how to package the cells in a way that would protect them from highway dirt and moisture. And it had to integrate the battery pack into a vehicle, connecting it to the car’s control systems.

The Factorial cells had one big drawback that made them hard to install in a car. They expanded when charged and shrank when discharged. In Mr. Keller’s words, they “breathed.”

Mr. Keller turned to engineers on the Mercedes Formula 1 racing team, who are accustomed to quickly solving technical problems. They devised a mechanism that expanded and shrank with the cells, maintaining constant pressure.

By Christmas 2024, a team working at Mercedes’s main research center in Sindelfingen, outside Stuttgart, texted Mr. Keller those two words: “spinning wheels.”

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Mr. Keller confessed that he got a little emotional when his team sent him the video of the car. He waited until after Christmas to forward it to Ms. Huang with the same two words.

Several weeks later, the Mercedes engineers took the car with Factorial’s battery, an otherwise standard EQS electric sedan, to a company track for its first road test.

The engineers drove the car slowly at first. They carefully monitored technical data displayed on the dashboard screen.

They drove faster and faster until, by the fourth day, they reached autobahn speeds of 100 miles per hour. The battery didn’t blow up. In theory, it can power the car for 600 miles, more than most conventional cars can travel on a tank of gasoline.

Mr. Keller had been keeping Ms. Huang apprised of the progress, but she was still surprised when, during a meeting on marketing strategy in February, people from the Mercedes communications department mentioned that they had written a news release announcing the achievement.

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“Do you want to take a look?” they asked.

She certainly did. The first successful road test with a Factorial battery was an enormously important moment, one they had been anticipating for years. Yet the teams at Mercedes and Factorial did not throw parties to celebrate. They still had work to do.

The next step is to equip a fleet of Mercedes vehicles with batteries, perfect the manufacturing process and do the testing required to begin selling them. That will probably take until 2028, at least. Many experts don’t expect cars with solid-state batteries to be widely available until 2030, at the earliest.

In April, Ms. Huang finally found time to travel to Stuttgart and ride in the car herself.

It was a clear spring day, with greenery sprouting in the German countryside and flowers beginning to bloom. Mercedes employees escorted her to a garage in Sindelfingen, where the automaker also has a large factory complex.

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Ms. Huang had seen many photos of the car, but she still felt a thrill when the garage doors opened. It felt “like a long-lost friend,” she said. “Like, ‘Finally I see you!’”

A Mercedes driver took her for a spin on the test track, zooming down an asphalt straightaway then around a banked curve that, Ms. Huang said, felt like a roller coaster.

Inside the car, there was no way to perceive the difference with the Factorial battery compared with a conventional one. “But it’s just so special because it’s with our battery.”

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Struggling Six Flags names new CEO. What does that mean for Knott’s and Magic Mountain?

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Struggling Six Flags names new CEO. What does that mean for Knott’s and Magic Mountain?

Struggling with a plummeting stock price and a decline in revenues, Six Flags Entertainment Corp. named a new CEO Monday, weeks after company officials suggested they would sell more underperforming theme parks.

Six Flags announced John Reilly, a veteran theme park operator, as its new president and CEO. He had served as an interim CEO and chief operating officer at SeaWorld Parks and Entertainment in the past.

Reilly is taking the reins of the struggling Charlotte, N.C.-based company that operates Knott’s Berry Farm in Buena Park and Six Flags Magic Mountain in Valencia.

“He’s got his work cut out for him,” said Martin Lewison, associate professor of business management for Farmingdale State College in New York, who is also a Six Flags shareholder.

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Since its merger with Cedar Fair Entertainment Company last year, Six Flags has upset some parkgoers with its cost-cutting efforts, including moving to a regional management model where park presidents at Knott’s Berry Farm and Magic Mountain were laid off. At some parks, live entertainment was reduced or mostly canceled, and some seasonal events did not return this year, such as WinterFest and Tricks and Treats at California’s Great America in Santa Clara.

Lewison said his own experience has been spotty at Six Flags parks, and two issues the company will need to address are how it wants to brand itself, and whether it wants its theme parks to be family-oriented or thrill-oriented.

“The company is just sort of a mishmash of a brand right now,” Lewison said.

While the holidays can be a big driver of traffic to Southern California theme parks like Disneyland, Six Flags’ regional parks have experienced some challenges, Lewison said.

At Six Flags, revenues and earnings were down in the third quarter compared to the same period last year, and there were fewer visitors in October compared to the same month in 2024. Executives earlier this month suggested they’re taking a stronger look at closing and selling off more of its underperforming theme parks.

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In an earnings call earlier this month, Brian Witherow, chief financial officer for Six Flags, said certain parks that represent 70% of the company’s earnings are outperforming, while its other parks are struggling.

Witherow said the company had invested more money in maintenance to improve the guest experience at the underperforming parks, “but did not yet achieve the commensurate uplift in profits we were targeting.”

In a pair of examples, Witherow cited a “historically well-maintained” theme park “with a loyal customer base,” where the company was able to “minimize costs without impacting consumer demand or the guest experience,” and earnings grew 14%. Then, he cited an underperforming park, where, despite significant spending to address deferred investment needs, earnings fell significantly.

“Going forward, we intend to be more nimble and strategic in allocating investment dollars, focusing only on our highest potential underperforming parks and the strongest opportunities to deliver near-term returns,” Witherow said. He declined to list which parks were underperforming.

Witherow said it’s a priority for Six Flags to narrow its focus “and shrink our capital needs.”

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“We’re going to look at the parks where our returns are the greatest, where the opportunities for growth are the highest, and we’re going to focus on those parks. The other parks we’ll look to monetize and use those proceeds to reduce debt,” Witherow said.

In the third quarter, Six Flags’ underperforming parks saw attendance decline 5%, Witherow said.

The company this month permanently shuttered its Six Flags America theme park and Hurricane Harbor water park in Bowie, Md., and will put up the land for sale. In Northern California, California’s Great America is set to close in the coming years, with its final season either in 2027 or in 2032, depending on whether the company exercises an option to extend its lease by an additional five years.

Could Six Flags be considering selling either of its parks in Southern California? Not at this time, Witherow suggested.

Some of Six Flags’ parks that have high property values are in Southern California, as well as Toronto, but those are parks that “are critical to the long-term growth of the business,” Witherow said. A sale of those properties, “I think from that perspective, would not be something, at least where we sit today, that we would be interested in pursuing.”

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Reilly succeeds Richard A. Zimmerman, who announced his plans in August to step down as Six Flags’ president and CEO and will leave the board on Dec. 8.

Reilly will join the company at a time when it is facing pressure from activist investors like New York-based Jana Partners to improve its operations. Last month, NFL football player Travis Kelce joined an investment coalition — which includes Jana Partners — that owns about 9% of Six Flags.

Jana has said it plans to engage with Six Flags’ board and management team to improve the company’s marketing strategy and operations, accelerate technology modernization, assess its leadership and evaluate potential acquisitions.

Zimmerman, in the earnings call, said the company has an “ongoing constructive engagement” with the investment group led by Jana Partners, which includes Kelce. He said following the announcement of the group’s interest in Six Flags, there was a surge of consumer interest, a reaction that “reinforces our confidence that Six Flags is as exciting and relevant as ever.”

“Travis Kelce, influencers of that ilk, have tremendous followings,” Zimmerman said. “Travis Kelce is somebody that’s come to our parks in many of our locations and has an affinity for them. We are going to work very closely with him and his team to make sure that we optimize that opportunity.”

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For the third quarter, net revenues were $1.32 billion, down $31 million, or 2% compared with the third quarter of 2024. Adjusted earnings before interest, taxes, depreciation and amortization was $555 million, down by $3 million.

That came despite attendance totaling 21.1 million guests, up 1%. One warning sign was a decline in how much guests were spending inside the theme parks, with more season pass holders visiting but fewer single-day visitors.

There were more warning signs in October. For the five-week period that ended Nov. 2, there were 5.8 million guests, down 11% compared to the same five-week period last year.

Six Flags shares closed Monday at $14.44, up 7%. Its 52-week high was $49.77.

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Giant landlord settles with California for colluding on rents in L.A. and elsewhere

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Giant landlord settles with California for colluding on rents in L.A. and elsewhere

Greystar, which manages dozens of apartment complexes in Southern California, has settled a lawsuit that alleges the property giant and other landlords colluded to keep rents artificially high.

The national apartment landlord and manager was a defendant in an ongoing suit filed last year by the U.S. Department of Justice that focuses on software from RealPage that is used by many apartment operators to set rent prices for vacant units and renewal rates for existing tenants.

The lawsuit alleges Greystar and other landlords were illegally using RealPage to share proprietary data so they could align their prices and drive up rents.

Last week, Greystar agreed to stop using software offered by any company, including RealPage, that uses competitively sensitive information to align rent prices, California Atty. Gen. Rob Bonta said. Greystar also agreed to cooperate in the ongoing prosecution of RealPage and other defendant landlords.

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“Whether it’s through smoke-filled backroom deals or through an algorithm on your computer screen, colluding to drive up prices is illegal,” Bonta said.

Greystar, which is based in Charleston, S.C., manages about 333 multifamily rental properties in California that use RealPage’s pricing software, the attorney general said.

The company has agreed to pay $7 million in penalties and fees to nine states, including California.

“We are pleased this matter is resolved and remain focused on serving our residents and clients.” Greystar spokesman Garrett Derderian said.

In a competitive market, authorities said, property owners would be forced to compete with each other, helping to drive down rental costs for Americans. But RealPage was used to avoid some of that competition, the lawsuit said.

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The suit said competing landlords shared nonpublic information — such as occupancy and rents on executed leases — with RealPage, which then used that data to recommend rents at individual properties.

The company previously called similar allegations false and misleading, saying clients can decline its recommendations, which at times includes suggestions to drop rental rates.

But in its complaint, the Justice Department pointed to instances where RealPage described its software as a tool for maximizing rent and outperforming the market. Authorities also alleged the company made it more difficult for landlords to reject its recommendations than accept them.

“There is greater good in everybody succeeding versus essentially trying to compete against one another in a way that actually keeps the entire industry down,” a RealPage executive said, according to the lawsuit.

At another point, RealPage described its tools as ensuring landlords are “driving every possible opportunity to increase price even in the most downward trending or unexpected conditions,” the complaint says.

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Without competitive pressure, landlords have no incentive to decrease prices or offer discounts common in rental markets, like a free month or waived fees, the attorney general said.

The settlement is a “big deal” for renters, said K Agbebiyi of the nonprofit Private Equity Stakeholder Project.

“Greystar is essentially not allowed to use the rental price setting component of RealPage,” they said. “That places doubt about the long-term stability of RealPage, when the largest landlord in the country is banned from using them.”

Greystar manages nearly 1 million apartments in the U.S., according to real estate data provider CoStar. It is one of the country’s largest apartment managers.

Other large apartment managers named in the suit include Camden, Cushman & Wakefield/Pinnacle, LivCor and Willow Bridge.

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Times staff writer Andrew Khouri contributed to this report

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‘Wicked: For Good’ flies to the top of the box office with $150-million domestic debut

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‘Wicked: For Good’ flies to the top of the box office with 0-million domestic debut

Elphaba and Glinda have changed the box office, at least for this weekend.

“Wicked: For Good” — the conclusion to Universal Pictures’ two-part film franchise — hauled in an estimated $150 million in the U.S. and Canada this weekend, marking the second-highest domestic opening this year, trailing only blockbuster hit “A Minecraft Movie.” Globally, the film grossed about $226 million.

The opening weekend audience for “Wicked: For Good” skewed even more female (69%) than the first film, which counted 61% of its viewers as women, according to data from EntTelligence.

Lionsgate’s “Now You See Me: Now You Don’t” came in a distant second at the domestic box office with $9.1 million. The third installment of the illusionist franchise has now brought in a cumulative $36.8 million in the U.S. and Canada and a total of $146.2 million globally across its two weekends.

Disney’s 20th Century Studios’ “Predator: Badlands,” Paramount Pictures’ “The Running Man” and “Rental Family” from Searchlight Pictures rounded out this weekend’s top five.

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The Cynthia Erivo and Ariana Grande-led film was bolstered by a massive marketing push that began early last year before the first “Wicked” movie debuted. Though the films are based on the hit Broadway play, Universal wanted to expand awareness of the story to markets that had been less exposed to the theatrical show.

As a result, the franchise has partnered with more than 100 brands, including toy companies like Lego and Mattel as well as more unexpected firms such as household goods giant P&G and online Asian supermarket Weee!, where director Jon M. Chu serves as chief creative officer.

The film’s opening weekend success also points to a demand for female-focused franchises.

After 2023’s “Barbie” grossed $1.4 billion at the global box office, there were countless calls for more films geared toward women. But this year, many of the big-budget movies were male-leaning, and the narrower returns at the box office have prompted questions about whether films were reaching all possible demographics.

“Women continue to be a really underserved audience,” said Shawn Robbins, director of movie analytics at Fandango and founder of the website Box Office Theory. “In terms of large blockbusters, it’s been a minute since there’s been a female-skewing movie on the scale of ‘Wicked’ or ‘Lilo & Stitch.’”

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