Box Office Revenue Closes in to Highest Level

In the middle of the tight bidding war between Walt Disney and Comcast over Twenty-First Century Fox’s assets, the summer box office has seldom become this booming.

Since the beginning of 2018, Hollywood has whipped out successive blockbusters. It has closed out a record second quarter with more than $6 billion in ticket sales, according to Box Office Mojo. This places the industry on track for its highest level since 2013, said comScore’s Paul Dergarabedian.

This is considered as a quick recovery from last year, during which tickets sales dropped to their lowest level in more than a decade, based on a report from Box Office Mojo.

“Jurassic World: Fallen Kingdom” from Universal Studios is leading the way, fetching more than $60 million during the previous weekend. The most recent “Jurassic Park” installment garnered a global cumulative audience that’s currently at $932.4 million, putting it on its way to exceeding $1 billion worldwide for the coming week.

The “Incredibles 2” from Disney and Pixar pulled in approximately $45.5 million over the weekend as it starts its third week in release. It is currently the second highest grossing Pixar film to date and the third largest animated film with a worldwide cumulative audience of $646.8 million so far.

Domestic summer revenue has gathered $2 billion as of June 26. This includes around $1.2 billion, or 60 percent market share from Disney.

According Brian Wieser, who is a Pivotal Research senior analyst, the bidding battle between Comcast and Disney will be a question of where the company will invest their assets and not of the qualities of the movies themselves, given that their movies are both leading the top two spots.

“The bigger picture is will Disney, if they up with Fox, ends up with a sufficiently large portfolio of content that they don’t need to then go invest in say $10 billion a year in new original content to populate these streaming services they want if they do not end up with the Fox assets,” Wieser said.

Dergarabedian stated that even if Universal’s film is beating the box office, both “Jurassic World” and “Incredibles 2” are winning, with ticket sales for the two movies totaling to more than $1 billion.

Meanwhile, he still stated that the overall winner is the box office since it had its most successful quarter in movie history between April and June after fetching $3.3 billion.

“With all this streaming and all these available options for entertainment, the fact that the movie theater is booming right now shows that it’s not going anywhere,” Dergarabedian stated.

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