MKM Expects Cinema To Rise Next Quarter Due To New Releases
In a report published on Friday, MKM Partners analysts mentioned that the box office is already up 5.2%, and there are still three full weekends to go in the current quarter. The results are tracking ahead of the forecast, albeit a flat one.
In the report MKM Partners noted, "In our opinion, this weekend's Top 10 films could gross $119mn (+20%), which would help regain some of the lost ground ceded over the last two weekends. The weekend's growth should largely be attributable to new release, Cinderella, which has solid buzz due to excellent reviews (85% Rotten Tomatoes score) and the seven minute Frozen Fever short that will run before the film."
Last year's Top 10 films grossed $99mn, with Mr. Peabody & Sherman at #1 with $21.8mn.
"The weekend box office should be led by new releases Cinderella and action film, Run All Night, with projected grosses of $68.0mn and $14.5mn, respectively." Chappie, which was the top film last weekend, is likely to secure the third place, grossing $6.0mn. The Second Best Exotic Marigold Hotel and Focus are unlikely to remain in the Top 5 list this weekend.
The box office results are "still tracking nicely above our flat forecast, although it is down from the double digit level seen at the end of February," the analysts commented, while adding, "That said, we look for the box office to strengthen over the remainder of March and finish up mid- to high-single digits."
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