The mood was grim Sunday on the Disney lot as Snow White opened behind expectations to just $43 million domestically. Globally, the live-action remake of the iconic 1937 film was expected to clear $100 million, but instead came in at $87.3 million. (Final weekend numbers will arrive later Monday.)

While those hauls wouldn’t normally spell disaster for a female-targeted pic, Snow White has found itself in potential bomb territory because of its hefty production budget of $270 million before another $100 million or so in marketing costs.

Based on initial ticket sales and mixed word-of-mouth, Snow White may have trouble getting to $300 million or $400 million globally, well short of a box-office safety net of $500 million or more, several rival studios execs and box office pundits tell THR. (Consider that 2019’s Dumbo, which debuted to $45 million domestically, topped out at $353 million against a $170 million budget).

Disney supporters would say if anyone is capable of pulling off a fairy-tale ending,...