Box Office Review: 'Good, But Not Great,' IMAX Just Set A September Record

Loading...
Loading...
  • Eric Handler of MKM Partners commented in a note that this weekend's top 10 box office films grossed $97 million – short of the $113 million he was expecting.
  • Quarter to date box office revenue is up only 4.4 percent, below the analyst's seven percent growth forecast.
  • IMAX Corporation (USA) IMAX set a record for September.
In a report published Monday, Eric Handler of MKM Partners reviewed last weekend's box office performance, noting it was "good, but not great." Total revenue from the weekend's top 10 films were $97 million, marking an eight percent gain from the same weekend a year ago, but shy of the analyst's $113 million expectations. New release Maze Runner: Scorch Trials underperformed while Black Mass saw a slightly better than expected opening weekend. Handler continued that
Twenty-First Century Fox IncFOXA
's Maze Runner finished in first place with $30.3 million while still falling short of his $42 million forecast and last year's The Maze Runner episode which saw $32.5 million in revenue. On the other hand,
Time Warner IncTWX
's Black Mass collected $23.4 million, exceeding the analyst's $21 million outlook. Overall, quarter to date box office revenue is higher by 4.4 percent from a year ago. Hander noted that his prior seven percent growth forecast is "likely to remain a bit aggressive" but the industry will see some momentum heading into the end of the quarter and should see five to six percent growth.
IMAX Sets New Record
The exclusive opening of Everest from IMAX/premium produced $7.5 million. Internationally, IMAX saw roughly $3 million in revenue for a 10.6 percent, helping the company realize its best September opening. Handler further pointed out that IMAX exceeded its previous September weekend high of $5.9 million from Resident Evil: Retribution in 2012.
Loading...
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorAnalyst Ratingsbox officeCAptiveEric HandlerimaxMKM PartnersmoviesRunner: Scorch Trials
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...