Disney (DIS) Has 'Great and Powerful' Weekend in Theaters
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Disney (NYSE: DIS) could start the week on a positive note following strong movie theater results for its newest release.
According to market data, Disney's "Oz the Great and Powerful" took in about $80.3 million in U.S. theaters last weekend. Time Warner's (NYSE: TWX) "Jack the Giant Slayer" fell to number two with $10 million in receipts.
(Notably, "Jack" has had about $43.8 million in sales thus far with a budget at about $200 million.)
"Oz" was the largest debut in the U.S. for 2013, a title previously held by "Identity Theft," which garnered $34.6 million upon its initial release.
Total U.S. theater revs last week were $129.7 million, up 10 percent from $117.9 million reported in the sale period last year. Year-to-date revs are down 12 percent to $1.723 billion.
Disney is still rebounding from the release of "John Carter" during the same period last year. The movie, which was about a military captain transported to Mars, cost about $250 million for Disney to make with another $100 million on marketing. The film cost Disney over $200 million in losses.
"Brave" and "Wreck-it Ralph," both released in 2012, helped Disney to mitigate some of those losses later in the year. "Oz" is Disney's first film release in 2013.
Shares are indicated for a flat opening early Monday.
According to market data, Disney's "Oz the Great and Powerful" took in about $80.3 million in U.S. theaters last weekend. Time Warner's (NYSE: TWX) "Jack the Giant Slayer" fell to number two with $10 million in receipts.
(Notably, "Jack" has had about $43.8 million in sales thus far with a budget at about $200 million.)
"Oz" was the largest debut in the U.S. for 2013, a title previously held by "Identity Theft," which garnered $34.6 million upon its initial release.
Total U.S. theater revs last week were $129.7 million, up 10 percent from $117.9 million reported in the sale period last year. Year-to-date revs are down 12 percent to $1.723 billion.
Disney is still rebounding from the release of "John Carter" during the same period last year. The movie, which was about a military captain transported to Mars, cost about $250 million for Disney to make with another $100 million on marketing. The film cost Disney over $200 million in losses.
"Brave" and "Wreck-it Ralph," both released in 2012, helped Disney to mitigate some of those losses later in the year. "Oz" is Disney's first film release in 2013.
Shares are indicated for a flat opening early Monday.
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