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Can Blockbuster Movies Help Boost Disney’s Studio Revenues in Q3?

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Jun. 24 2019, Updated 5:54 p.m. ET

Disney’s studio revenues

Walt Disney’s (DIS) studio revenue largely depends on the timing and popularity of the movie release and box office collection. Disney’s studio revenues declined 15% YoY to $2.1 billion due to a decline in the worldwide theatrical as well as home entertainment distribution business, partially offset by improved growth in TV SVOD distribution.

In the March-ending quarter, Captain Marvel earned $153.4 million in the debut weekend and collected over $1 billion in theatres, but the film still could not earn enough to beat the success of movies such as Black Panther. The lack of a comparable Star Wars title in the current quarter further added to the decline.

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Hit movies in Q3

After a weak Q2, the studio revenues are expected to shoot up again in Q3 2019 due to Disney’s blockbuster hit movie Avengers: Endgame, which has earned $2.74 billion at the box office as of June 17. However, Avengers: Endgame still lagged behind the science fiction film Avatar, which made $2.79 billion in the box office worldwide. Disney now has plans to re-release the movie Avengers: Endgame to beat the Avatar record.

Toy Story 4 is also expected to add to studio revenues, as it opened with a franchise high of $118 million and became the third-biggest debut movie after Avengers: Endgame and Captain Marvel. Disney’s Aladdin had the fourth-biggest opening in the US with a $91.5 million debut this year. Interestingly, the first four movies that had the most massive opening weekend were Disney-branded movies.

Box office report

Disney’s Buena Vista Pictures has topped the domestic box office with a 34.1% market share, according to Box Office Mojo, leaving behind AT&T’s Warner Bros., Comcast’s Universal studio, Lionsgate, Sony/Columbia, and Paramount studios, which had market shares of 15.8%, 14.4%, 7.2% and 5.7%, respectively, on a year-to-date basis as of June 16, 2019.

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