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Disney's (DIS) New Film Rules the Box Office With $129M Opening

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Disney’s (DIS - Free Report) Kingdom of the Planet of the Apes, the latest installment in the iconic Planet of the Apes series, stormed the weekend box office with a whopping $56.5 million opening in the United States.

This movie marks director Wes Ball's biggest opening so far in his career, adding another feather to the franchise's cap. Starring Freya Allan, Owen Teague and Kevin Durand, the film resonated with audiences worldwide, collecting a remarkable $129 million in its debut.

Kingdom of the Planet of the Apes continues the legacy of the three previous groundbreaking films, Rise of the Planet of the Apes (2011), Dawn of the Planet of the Apes (2014) and War for the Planet of the Apes (2017), and acts as a “kind of a prequel and a sequel” of these movies. Set after the events of the 2017 installment, it bridges the gap between the recent trilogy and the original 1968 classic.

Kingdom of the Planet of the Apes invites audiences to immerse themselves in a visually rich world crafted with care and creativity.

Shares of this Zacks Rank #3 (Hold) company have gained 17.2% year to date against the Zacks Consumer Discretionary sector’s 3% decline. This outperformance is due to the content lineup that is attracting more customers. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Disney’s Upcoming Lineup to Aid Top-Line Growth

The company is set to release some impressive movies in the rest of 2024, which are expected to attract audiences to the theatres. These movies, including Deadpool & Wolverine, Mufasa: The Lion King, Lilo & Stitch and Moana 2 are expected to aid the company’s top-line growth in the upcoming quarters.

The Zacks Consensus Estimate for DIS’ fiscal 2024 revenues is pegged at $91.21 billion, indicating year-over-year growth of 2.6%. The consensus estimate for earnings is pegged at $4.74 per share, indicating year-over-year growth of 26.06%.

Disney is investing in its popular franchises. These franchises, which already have a great fan following, are expected to do well at the box office. These franchises help the company stay ahead of its competition.

Disney faces tough competition from giants like Warner Bros. Discovery (WBD - Free Report) , Comcast (CMCSA - Free Report) and Paramount Global (PARA - Free Report) at the box office.

Warner Bros. Discovery is well known for making classics like Casablanca and Harry Potter. WBD is going to release some big movies like Venom 3 and Red One. These movies are expected to do really well at the box office.

Comcast is a well-diversified company that is known for making blockbuster movies and it owns well-known brands like Universal, DreamWorks and Universal Television. Some of its upcoming projects include The Bikeriders, Touch and Nosferatu.

PARA-owned Paramount Pictures is the oldest film studio in the United States. From classics like The Godfather and Titanic to modern hits, Paramount Pictures keeps entertaining audiences with its amazing stories. Its movie lineup includes titles like Smile 2, Transformers One and A Quiet Place: Day One.

Disney is focusing on creating quality content as it is reducing its production budgets. This was due to the number of movies like The Marvels, Indiana Jones and the Dial of Destiny that struggled at the box office in 2023. Increasing competition is also a concern.

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