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Can Holiday Season Help U.S. Box Office Set a New Record?
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It has been an impressive year for U.S. movie theaters, and the all-important holiday season is likely to further boost the domestic box office. Footfalls at movie theaters have been relatively stable over the past three decades but a spate of hits in 2018 might just make it a record year for the box office.
Understandably, movie studios are betting big on the holiday season. And The Walt Disney Company (DIS - Free Report) once again has taken the lead, with Ralph Breaks the Internet outpacing advance ticket sales of the studio’s previous two Thanksgiving launches as of Nov 20.
Interestingly, this year, the holiday season mood was set slightly more upbeat with Venom from Sony Pictures Entertainment, a division of Sony Corporation of America , setting the record for the biggest opening weekend ever for a movie released in October.
Big-Ticket Releases to Set Box Office Mood
After a disappointing 2017, this year has been good for the domestic box office so far. It is just about to surpass $10 billion and analysts predict that it might even hit a record-breaking $12 billion in 2018.
As always, a series of films is set to open during the two-month holiday season period this year too. And once again it might prove to be great holiday season for Disney. Per Fandango, Ralph Breaks the Internet is leading the advance ticket sales of Disney’s previous two Thanksgiving launches as of Nov 20.
This year’s box office mood seems to have been set a few days earlier, with AT&T, Inc.’s (T - Free Report) Warner Bros’ Fantastic Beasts: The Crimes of Grindelwaldtopping the weekend box office with a $62.2 million opening in the United States and Canada. This definitely bodes well for the U.S. box office. Disney’s The Nutcracker and the Four Realms, Universal’s The Grinch so far have had an impressive opening and is expected to score big through Thanksgiving.
December too has a spate of big-ticket releases that are expected to help the domestic box office. Julia Roberts-starrer Ben is Back, Mary Queen of Scots, Warner Bros’ The Mule, Twenty-First Century Fox, Inc.’s (FOXA - Free Report) Once Upon a Deadpool and Paramount Pictures, a subsidiary of Viacom, Inc.’s Bumblebee, all release in December.
Shares of Disney, Sony and Fox have gained 4%, 10.2% and 40.6% year to date, while AT&T has declined 24.4% over the same time period. Sony carries a Zack Rank #2 (Buy), while Disney and AT&T each carries a Zack Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Price Performance of Major Studios Year to Date
Box Office Set for Record 2018
Per CNN, the domestic box office is 10.5% ahead of 2017 and 5.7% ahead of 2016. Analysts predict that this year could eclipse 2016’s $11.4 billion. Interestingly, it’s not only higher ticket prices that have been helping theaters. Theatrical revenues have improved 10% year over year, with attendance up 7.7%.
Earlier this year, Disney’s Black Panther alone raked in $700 million in domestic sales, surpassing Titanic, to become the third-highest grossing film in the United States.
Moreover, the U.S. box office hit a record high of $3.3 billion in the second quarter thanks to summer hits like Incredibles 2, Avengers: Infinity War and Jurassic World: Fallen Kingdom. It goes without saying that 2018 is proving to be a great year for the domestic box office and the holiday season is expected to give one final boost to ticket sales.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana. Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
Image: Bigstock
Can Holiday Season Help U.S. Box Office Set a New Record?
It has been an impressive year for U.S. movie theaters, and the all-important holiday season is likely to further boost the domestic box office. Footfalls at movie theaters have been relatively stable over the past three decades but a spate of hits in 2018 might just make it a record year for the box office.
Understandably, movie studios are betting big on the holiday season. And The Walt Disney Company (DIS - Free Report) once again has taken the lead, with Ralph Breaks the Internet outpacing advance ticket sales of the studio’s previous two Thanksgiving launches as of Nov 20.
Interestingly, this year, the holiday season mood was set slightly more upbeat with Venom from Sony Pictures Entertainment, a division of Sony Corporation of America , setting the record for the biggest opening weekend ever for a movie released in October.
Big-Ticket Releases to Set Box Office Mood
After a disappointing 2017, this year has been good for the domestic box office so far. It is just about to surpass $10 billion and analysts predict that it might even hit a record-breaking $12 billion in 2018.
As always, a series of films is set to open during the two-month holiday season period this year too. And once again it might prove to be great holiday season for Disney. Per Fandango, Ralph Breaks the Internet is leading the advance ticket sales of Disney’s previous two Thanksgiving launches as of Nov 20.
This year’s box office mood seems to have been set a few days earlier, with AT&T, Inc.’s (T - Free Report) Warner Bros’ Fantastic Beasts: The Crimes of Grindelwaldtopping the weekend box office with a $62.2 million opening in the United States and Canada. This definitely bodes well for the U.S. box office. Disney’s The Nutcracker and the Four Realms, Universal’s The Grinch so far have had an impressive opening and is expected to score big through Thanksgiving.
December too has a spate of big-ticket releases that are expected to help the domestic box office. Julia Roberts-starrer Ben is Back, Mary Queen of Scots, Warner Bros’ The Mule, Twenty-First Century Fox, Inc.’s (FOXA - Free Report) Once Upon a Deadpool and Paramount Pictures, a subsidiary of Viacom, Inc.’s Bumblebee, all release in December.
Shares of Disney, Sony and Fox have gained 4%, 10.2% and 40.6% year to date, while AT&T has declined 24.4% over the same time period. Sony carries a Zack Rank #2 (Buy), while Disney and AT&T each carries a Zack Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Price Performance of Major Studios Year to Date
Box Office Set for Record 2018
Per CNN, the domestic box office is 10.5% ahead of 2017 and 5.7% ahead of 2016. Analysts predict that this year could eclipse 2016’s $11.4 billion. Interestingly, it’s not only higher ticket prices that have been helping theaters. Theatrical revenues have improved 10% year over year, with attendance up 7.7%.
Earlier this year, Disney’s Black Panther alone raked in $700 million in domestic sales, surpassing Titanic, to become the third-highest grossing film in the United States.
Moreover, the U.S. box office hit a record high of $3.3 billion in the second quarter thanks to summer hits like Incredibles 2, Avengers: Infinity War and Jurassic World: Fallen Kingdom. It goes without saying that 2018 is proving to be a great year for the domestic box office and the holiday season is expected to give one final boost to ticket sales.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana. Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>