Thor dominates the box office
Disney’s (DIS) latest movie, Thor: Ragnarok, is set to bolster the Hollywood box office this season. The movie, which was released this past weekend, has already grossed a whopping $427 million worldwide and may well cross the $1 billion mark like other Marvel films.
Domestically, the film garnered nearly $121 million. The movie received 93% ratings from Rotten Tomatoes. Interestingly, China (FXI) dominated the international market with a record $55 million during the weekend.
The film is placed in the fourth position among the all-time best domestic opening weekend collections in 2017 behind Beauty and the Beast at $174.8 million, Guardians of the Galaxy Vol. 2 at $146.5 million, and It at $123.4 million.
Success of Marvel partnership
The company’s successful Marvel movie franchise, which was bought in 2010 for $4 billion, has already amassed nearly $18 billion from its previous 16 releases. The last two series of Thor generated nearly $1 billion together. The movie has already set the stage for the next mega movie Avengers: Infinity War, which is expected to release in the middle of next year.
Moreover, Disney will end the year with the highly anticipated Star Wars: The Last Jedi, which is slated to release next month. The launch of two blockbuster films may help the company to downplay competition from Warner Bros’ (TWX) upcoming movie Justice League.
In 3Q17, Disney reported a 16% year-over-year decline in the Studio Entertainment business. However, the launch of two blockbuster films may help the company to boost its film division business.