The multiplex industry has good news and bad news. the good news is Walt Disneyof (DIS -0.99%) Avatar: Path of Water has been the top draw in domestic cinemas for seven consecutive weeks. There is also bad news. Avatar The sequel is top draw for 7 consecutive weeks.
Avatar: Path of Water has surpassed $2.1 billion worldwide since its debut in mid-December, making it the fourth highest-grossing film of all time. Now that the pandemic is over, it’s the only film to exceed his $2 billion worldwide box office. The larger-than-life spectacle that the exhibitors needed, have Seen on the big screen – ideally imax in 3D format.
So where do we go from here? Domestic ticket sales for all movies over the weekend hit his $70.9 million, the worst result since the week before the Disney blockbuster hit the nearby multiplex. Interest quickly wears off, even for big titles that create replay appeal. Hollywood needs another hit.
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an ironic twist to Avatar The success story is the poor sales performance in the domestic market. His $134 million in U.S. ticket sales garnered its premiere weekend, far below the $175 million industry watchers had expected. Maybe it was because people were glued to their TVs to watch the World Cup. Yes, that’s the time this movie has dominated the box office.
The film’s debut did not fare so well when it came to domestic audiences, and the story quickly became the amount of money Disney had to write off in the film’s production budget for the foreseeable future. Some argued that the movie would have to make between $1.7 billion and $2 billion in ticket sales to be profitable, but that didn’t seem to be the case at first. We cleared those hurdles earlier this month.
Avatar: Path of Water Especially overseas, we are growing. It may not seem like a domestic phenomenon, but more than two-thirds of his ticket sales come from the international market. Still going strong in major foreign territories. His movie tickets sold outside the US over the weekend were $42.4 million, but only $15.7 million domestically.
It’s almost time to pass the baton. January is typically a slow month for movie studios looking to deliver some of the most promising films ahead of the peak of the holiday season. They’re also looking to put out potentially award-winning work by the end of the year to keep it fresh in the minds of industry voters and to qualify. That’s not surprising. Avatar: Path of Water When Puss in Boots: Last Wish — Been playing for at least 6 weeks now.
Don’t expect big changes this weekend.Horror fans will appreciate M. Night Shyamalan’s knock on the cabin We’ll see if the director can get his touch back on his gift of jaw-dropping plot twists. 80 for Brady It might appeal to older movie buffs getting nostalgic for the classic multiplex experience. Ant-Man & Wasp: Quantumanias Open February 17th.
In short, it’s likely that Disney will hand over the baton and take over the Imax and premium-price screening experience in multiplexes.
Unless Hollywood picks up the pace on blockbusters, consumers have every right to wonder what’s wrong with the industry. Only large-scale superhero and action movies draw large audiences. Sometimes family movies break out, but other times it’s a season of low cinema inventory: Disney has already delivered three of his four biggest movies of 2022. And it looks like 2023 will be yet another sequel.
Rick Munarriz holds a position at Walt Disney. The Motley Fool owns shares of and recommends Walt Disney. The Motley Fool recommends Walt Disney’s January 2024 $145 long call and Walt Disney’s January 2024 $155 short call. The Motley Fool’s U.S. headquarters has a disclosure policy.
