Disney (DIS) had Strong YTD Domestic Box Office Numbers Ahead of 'Star Wars: TFA' - Wells Fargo

Wells Fargo is positive on Disney (NYSE: DIS) following a solid opening weekend performance from Star Wars: The Force Awakens (TFA).

Analyst Marci Ryvicker noted that TFA produced gross domestic revenue of $238 million, topping the firm's $225 million estimate. It was also the biggest domestic debut since Jurassic World, which grossed $209 million with its summer debut.

Ryvicker continued, It also became the first movie to gross more than $100 million in a single day, with $121 million setting the record for the biggest Friday and the biggest opening day ever, well ahead of the $91 million for Harry Potter and the Deathly Hallows Part 2 in 2011. The film collected an impressive $517 million worldwide over the weekend, just behind Jurassic World’s $525 million – although we would point out that Star Wars won’t be released in China until January.

Other key points from today's Wells Fargo report:

• YTD through December 13, Comcast (Nasdaq: CMCSA) has the largest yr/yr increase in DBO, followed by Time Warner (NYSE: TWX). Studios with an increase at the DBO through December 13 are CMCSA ($1.3B, +113%), TWX ($156MM, +11%), and DIS ($72MM, +5%). Studios that saw a yr/yr decline in DBO receipts are Lionsgate (NYSE: LGF) (-$66MM, -9%), Sony (NYSE: SNE) (-$239MM, -19%), Twenty-First Century Fox (Nasdaq: FOXA) (-$484MM, -27%), and Viacom (Nasdaq: VIAB) (-$424MM, -42%). Recall that this is on a roughly 2-week, so it does not include Star Wars: The Force Awakens.
• YTD through December 13, DIS has the highest average DBO per film, followed by CMCSA. DIS has the best PER FILM DBO avg. with $115MM on 14 releases in 2015 vs. $96MM on 16 releases in 2014, followed by CMCSA with $73MM on 34 films in theaters in 2015 vs. $40MM on 29 films in 2014.

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