'E.T.' Returns: Can a Classic Capture Today's Audience?

As Universal prepares to reintroduce its beloved alien to theaters on March 22, questions arise about how this 20th anniversary release will resonate with contemporary viewers.

Despite being one of cinema's most profitable creations, "E.T. the Extra-Terrestrial" faces unique challenges in today's entertainment landscape. While the re-release features digital enhancements and additional scenes, it lacks the sophisticated CGI that powers modern blockbusters like "Harry Potter" and "The Lord of the Rings."

Today's children, accustomed to the visual spectacle of "Shrek" and the marketing machinery behind "Monsters, Inc.," may view this gentle tale of friendship through different eyes than audiences did in Reagan-era America.

"The storytelling remains powerful, but by current standards, some might find it deliberately paced and emotionally earnest," notes one industry observer. "Modern viewers have been exposed to so much more."

Yet in our post-September 11 world, E.T.'s heartfelt message might be precisely what audiences crave. Universal's marketing president Peter Adee believes the film "has a resonance that's as real today as it was 20 years ago," arguing that "great stories tend to transcend all the bells and whistles."

Universal has orchestrated an ambitious promotional campaign, planning to release the film on over 2,000 screens. The studio has implemented a 13-month celebration that transforms E.T. into Universal's temporary mascot, appearing across all corporate divisions throughout 2002.

This comprehensive strategy includes partnerships with Special Olympics, Dairy Queen, and Kraft/Nabisco, while the iconic Reese's Pieces connection continues. Universal has even modified its logo to feature E.T. and Elliott bicycling across the familiar globe.

The studio faces a delicate balance between marketing aggressively and preserving the film's cherished status. As Michael J. Wolf of McKinsey & Co. observes, media companies "need to find ways to market themselves tastefully yet shamelessly."

Beyond theatrical revenue, the campaign culminates with a highly anticipated DVD release containing both original and anniversary versions.

"E.T." holds historic importance for Universal, cementing its relationship with Steven Spielberg and generating substantial profits during the studio's global expansion. The film pioneered modern product placement and merchandise licensing strategies that now dominate family entertainment.

Two decades later, "E.T." has already achieved phenomenon status. The only question remaining: will audiences choose to revisit this gentle alien from a simpler cinematic era?

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