Disney (DIS) sits atop the movie charts once again, now with two of its latest movie releases placing in the top domestic ticket sales last weekend.
Coincidently enough, both movies are creations of two of Disney's latest investments, 21st Century Fox and Marvel Comics, which seem to be paying off in movie ticket sales.
Alien: Romulus, produced by 20th Century Studios, is the latest movie release and the ninth film in the 45-year-old Alien franchise. It topped the box office this past weekend and placed first in the U.S.
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This highly anticipated movie's successful release made around $41.5 million in its first weekend playing in the U.S. and Canada and $66.7 million internationally, for a total of $108.2 million in its debut.
Taking second place was Deadpool & Wolverine, a franchise that also began its life at 20th Century Fox. The film continues to succeed in theaters despite being released to the public four weekends ago. Last weekend, it reached $30 million in domestic ticket sales, amounting to a total of $545.8 million since its debut.
Due to Disney's box office success, it may come as no surprise that the highest-grossing movie of 2024 is Inside Out 2 by Walt Disney Studios Motion Pictures, which placed first in the domestic yearly box office for 2024 with an estimated total of $642.1 million.
Ticket sales at movie theaters are still a very profitable source of revenue for the company. According to The Walt Disney Company 2023 annual earnings report, theatrical distribution was up by 69%, and home entertainment distribution was down by 26%.
As of this summer, Disney films have made up around 42% of total domestic ticket sales so far, with three of its newly released movies leading the charge, as reported by Box Office Mojo.
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A bounce back for movie theaters post-pandemic
The total gross of the domestic yearly box office has steadily increased since 2021, possibly due to the theaters' reopening after the shutdowns caused by the COVID-19 pandemic.
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In 2023, the domestic yearly box office had a total gross of $8.9 billion, 20.9% higher than the previous year, with the Barbie movie single-handedly generating a total gross of $636 million.
This year's domestic box office totals nearly $5.4 billion, with Inside Out 2 maintaining its number one spot on the charts.
Disney's film investments are paying off
The Walt Disney Company effectively acquired 21st Century Fox on March 20, 2019, for the hefty price tag of $71 billion.
In the agreement between the two companies, Disney gained ownership of every film and TV show by Fox, as well as various TV Networks. Disney also previously owned 30% of Hulu and obtained 30% more when purchasing the studio, giving it a 60% stake and making it the majority owner of the streaming service.
The month Disney acquired the mass media company, the stock increased by 9.5% at closing compared to the previous year. Disney also issued approximately 343 million new shares to 21st Century Fox shareholders.
Before acquiring 21st Century Fox, Disney purchased Marvel Entertainment for $4 billion on December 31, 2009. At the end of that same year, Disney's stock increased by 22.7% at closing compared to the previous year.
After the acquisition of 21st Century Fox, Disney became the owner of more Marvel Comics franchises, including X-Men and Fantastic Four, to which it didn't previously have rights.
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