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Media Stocks & ETFs in Focus on "Barbenheimer"s Success
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The box office is buzzing with excitement as Warner Bros.' (WBD - Free Report) "Barbie" and Universal's (owned by Comcast (CMCSA - Free Report) "Oppenheimer" took center stage during the much-anticipated "Barbenheimer" weekend.
With strong preview sales and positive projections, these films have the potential to inject much-needed energy into the movie theater industry and could have a significant impact on media stocks and ETFs. Media-focused ETFs typically include holdings in major entertainment companies, movie studios, broadcasting networks, and streaming services.
The success of blockbuster films like "Barbie" and "Oppenheimer" can contribute to the overall performance of these media ETFs. Both stocks CMCSA and WBD have decent weights in Invesco S&P 500 Equal Weight Communication Services ETF (RSPC - Free Report) .
Other ETFs that could gain traction are Invesco Dynamic Media ETF , First Trust S-Network Streaming and Gaming ETF (BNGE - Free Report) and Communication Services Select Sector SPDR Fund (XLC - Free Report) . Let’s delve a deeper into the news.
Box Office Rebounds with "Barbie" and "Oppenheimer"
"Barbie" got off to a remarkable start with $22.3 million in Thursday night preview ticket sales, marking the highest haul for a film released in 2023 so far. The R-rated "Oppenheimer" also made a solid impression with $10.5 million from Thursday showings, per Yahoo Finance.
Per Yahoo, box office analysts predict that "Barbie" could rake in between $140 million and $175 million over its first three days in theaters, far exceeding Warner Bros.' conservative $70 million estimate. Meanwhile, "Oppenheimer" is expected to capture at least $50 million, with some projecting it could surpass $60 million. Together, these films could generate a staggering $200 million over their opening frame.
Positive Impact on Box Office and Media Stocks
The success of "Barbie" and "Oppenheimer" comes as a much-needed boost for the domestic box office. After a series of big-budget movies falling short of expectations, these films are rekindling consumer interest in heading back to theaters. This resurgence in box office attendance is a positive sign for media companies and cinema operators.
Stocks like AMC Entertainment (AMC - Free Report) , IMAX (IMAX - Free Report) and Cinemark (CNK - Free Report) hog attention on this news. AMC Entertainment revealed it's sold 40,000 tickets of the double feature to its movie club members. Current year-to-date box office levels, although up 12% compared to last year, are still down roughly 20% versus 2019, according to Comscore data, quoted on Yahoo Finance. Hence, the duo’s release became all the more important to record the comeback of the box-office industry from Covid-related slump.
Potential Upside for Media Stocks & ETFs
Investors in media stocks and ETFs should keep a close eye on the performance of these films. A strong box office showing can have a positive impact on the revenues and earnings of media companies involved in their production and distribution. Moreover, the success of "Barbie" and "Oppenheimer" could drive investor confidence in the entertainment industry's recovery and growth prospects.
Likely Caveat: SAG-AFTRA Strike
While "Barbie" and "Oppenheimer" bring optimism to the entertainment industry, it is essential to acknowledge potential risks. The ongoing strike involving SAG-AFTRA and the Alliance of Motion Picture and Television Producers (AMPTP) may impact movie theater companies and media stocks. A prolonged strike could disrupt movie releases and distribution schedules, affecting box office revenues and investor sentiment.
(Disclaimer: This article has been written with the assistance of Generative AI. However, the author has reviewed, revised, supplemented, and rewritten parts of this content to ensure its originality and the precision of the incorporated information.)
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Media Stocks & ETFs in Focus on "Barbenheimer"s Success
The box office is buzzing with excitement as Warner Bros.' (WBD - Free Report) "Barbie" and Universal's (owned by Comcast (CMCSA - Free Report) "Oppenheimer" took center stage during the much-anticipated "Barbenheimer" weekend.
With strong preview sales and positive projections, these films have the potential to inject much-needed energy into the movie theater industry and could have a significant impact on media stocks and ETFs. Media-focused ETFs typically include holdings in major entertainment companies, movie studios, broadcasting networks, and streaming services.
The success of blockbuster films like "Barbie" and "Oppenheimer" can contribute to the overall performance of these media ETFs. Both stocks CMCSA and WBD have decent weights in Invesco S&P 500 Equal Weight Communication Services ETF (RSPC - Free Report) .
Other ETFs that could gain traction are Invesco Dynamic Media ETF , First Trust S-Network Streaming and Gaming ETF (BNGE - Free Report) and Communication Services Select Sector SPDR Fund (XLC - Free Report) . Let’s delve a deeper into the news.
Box Office Rebounds with "Barbie" and "Oppenheimer"
"Barbie" got off to a remarkable start with $22.3 million in Thursday night preview ticket sales, marking the highest haul for a film released in 2023 so far. The R-rated "Oppenheimer" also made a solid impression with $10.5 million from Thursday showings, per Yahoo Finance.
Per Yahoo, box office analysts predict that "Barbie" could rake in between $140 million and $175 million over its first three days in theaters, far exceeding Warner Bros.' conservative $70 million estimate. Meanwhile, "Oppenheimer" is expected to capture at least $50 million, with some projecting it could surpass $60 million. Together, these films could generate a staggering $200 million over their opening frame.
Positive Impact on Box Office and Media Stocks
The success of "Barbie" and "Oppenheimer" comes as a much-needed boost for the domestic box office. After a series of big-budget movies falling short of expectations, these films are rekindling consumer interest in heading back to theaters. This resurgence in box office attendance is a positive sign for media companies and cinema operators.
Stocks like AMC Entertainment (AMC - Free Report) , IMAX (IMAX - Free Report) and Cinemark (CNK - Free Report) hog attention on this news. AMC Entertainment revealed it's sold 40,000 tickets of the double feature to its movie club members. Current year-to-date box office levels, although up 12% compared to last year, are still down roughly 20% versus 2019, according to Comscore data, quoted on Yahoo Finance. Hence, the duo’s release became all the more important to record the comeback of the box-office industry from Covid-related slump.
Potential Upside for Media Stocks & ETFs
Investors in media stocks and ETFs should keep a close eye on the performance of these films. A strong box office showing can have a positive impact on the revenues and earnings of media companies involved in their production and distribution. Moreover, the success of "Barbie" and "Oppenheimer" could drive investor confidence in the entertainment industry's recovery and growth prospects.
Likely Caveat: SAG-AFTRA Strike
While "Barbie" and "Oppenheimer" bring optimism to the entertainment industry, it is essential to acknowledge potential risks. The ongoing strike involving SAG-AFTRA and the Alliance of Motion Picture and Television Producers (AMPTP) may impact movie theater companies and media stocks. A prolonged strike could disrupt movie releases and distribution schedules, affecting box office revenues and investor sentiment.
(Disclaimer: This article has been written with the assistance of Generative AI. However, the author has reviewed, revised, supplemented, and rewritten parts of this content to ensure its originality and the precision of the incorporated information.)