MKM Partners: Weekend Box Office Not As Big As Anticipated, But Still 'Pretty Huge'
In a report published Monday, MKM Partners analyst Eric Handler commented that the weekend's box office was not as big as anticipated but still "pretty huge" with the top 10 films grossing $219 million, a figure that was short of the analyst's $257 million estimate.
Handler stated it "is tough to be too disappointed" with the $257 million figure, considering Walt Disney Co (NYSE: DIS)'s "Avengers: Age of Ultron" recorded the second-largest opening weekend gross of all time, despite competing against the highly anticipated Mayweather-Pacquiao fight.
Handler further noted that IMAX Corporation (NYSE: IMAX) saw its first ever $30 million global box office weekend. The record was attributed to carryover revenue from "Furious 7" and the opening of "Avengers" that grossed $25.2 million for IMAX. In fact, IMAX's domestic per screen average was a little more than $49 million – the company's highest since 2012's "The Dark Knight Rises" which debuted to $57,000.
Related Link: 'Avengers: Age Of Ultron' Scores 2nd-Best Opening Weekend Of All Time
April's Box Office Reviewed
Handler detailed April's box office data in which total revenue rose 0.7 percent from a year ago to $778 million. The analyst stated April was seen as the toughest month of the quarter as last year's comparable period was up 22 percent year-over-year and up 5 percent versus the five-year average.
Box office revenue for the second quarter is tracking 12.4 percent higher quarter-to-date at $1.005 billion versus last year's $894 million.
Coming Attractions
Coming attractions that can further boost box office data include "Hot Pursuit" (5/8), "Mad Max: Fury Road" (5/15, 3D), "Pitch Perfect 2" (5/15), "Poltergeist" (5/22, 3D), "Tomorrowland" (5/22, IMAX, 3D), "Aloha" (5/29), "San Andreas" (5/29, 3D), "Entourage" (6/3), "Insidious Chapter 3" (6/5), "Spy" (6/5), "Jurassic World" (6/12, IMAX, 3D).
Latest Ratings for DIS
Apr 2015 | Guggenheim Securities | Upgrades | Neutral | Buy |
Apr 2015 | Citigroup | Maintains | Buy | |
Apr 2015 | JBL Advisors | Initiates Coverage on | Buy |
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