A Record-Breaking Box Office Weekend

In a new report out on Monday, MKM Partners analyst Eric Handler takes a look at this past weekend’s box office numbers. Overall, 2015 box office numbers continue to be strong in the U.S., and this weekend was record-breaking box office weekend in China.

The Numbers

This past weekend’s top 10 films grossed a combined $181 million, a 38 percent increase over the same weekend in 2014. Walt Disney Co DIS’s “Ant-Man” took the top weekend spot with a respectable $58 million, although this number fell short of MKM’s weekend forecast of $63 million. Comcast Corporation CMCSA’s “Minions” fell to the No. 2 spot this past weekend, bringing in $50.2 million. “Minions” also fell short of MKM’s $56.0 million prediction.

Despite the disappointment from the top two movies, Handler calls Comcast’s “Trainwreck” the biggest surprise of the weekend. The movie’s $30.2 million opening weekend topped MKM’s $24.0 million prediction and was good for third place.

On the strength of IMAX Corporation (USA) IMAX’s “Monster Hunt,” China set a weekend box office record this weekend with an overall gross of $185 million.

A Good Year For Hollywood

So far, 2015 has been a strong year at the box office. This weekend's numbers put the year’s total box office about 29 percent ahead of last year’s pace. Despite strong comps coming in August, MKM is sticking to its forecast of 7 percent year-over-year box office growth for the quarter.

Stock Picks

MKM predicts that 2015 will continue to be a blockbuster year at the movies and a blockbuster year for many cinema stocks. The firm has Buy ratings on Cinemark Holdings, Inc. CNK, Time Warner Inc TWX and IMAX.