Toy Story 4 Box Office Hit but Fails to Reach Disney’s Goals
The domination of Walt Disney in the Box Office continues to solidify with Toy Story 4 effortlessly earning $118 million, setting it at the top of the box office charts. It premiered in 4,575 theatres in the United States.
Media investors expected a turnaround with this movie after a series of unfortunate box office flops. The film is expected to be the biggest film in the summer of 2019, which will boost company stocks.
Eric Handler, an MKM analyst, expected the film to gross for $170 million.
The fourth installment in Pixar’s animated series may have earned millions of dollars, but it still failed to meet Disney Co. expected target of $140 million.
However, Toy Story 4 still makes it in the list of the biggest launch for an animated movie. Ranking four, behind the movies Incredibles 2 which raised $182 million, Finding Dory with $135 million and Universal Studio’s Shrek the Third with $121 million.
It is also the third film in this year to reach over a hundred million on its opening weeks, along with two other Disney films, Captain Marvel and Avengers: End Game.
To this date, Disney’s shares have gained 29%. Analysts are predicting that Disney’s profits will fall by 7.2% this year and another 1.4% by 2020. They are also predicting that in the next few years, the company’s average annual earnings will only increase 1%.
The company has multiple sources of profit; theme parks, movies, Disney+ and the Disney channel. However, despite these successes, Disney stock appears to trade based on the performance of its channels.
Back to the Box office, other films in this week are, Sony’s Men In Black and AT&T’s Shaft starring Samuel L. Jackson. With those films, Sony gained 10% of the shares and AT&T earned 14%. Warner Bros. is recovering from a huge flop last week in the box office, with a film that was made for about $30 million, only taking in $8 million in sales.
The S&P 500, has gained 18% and the Dow Jones Industrial Average, has climbed 15%.
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