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'Frozen 2' Sets Another Box Office Record For Disney This Year

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'Frozen 2' Sets Another Box Office Record For Disney This Year

“Frozen II” brought the heat over opening weekend — bagging $350 million worldwide and a box-office record for global day-and-date releases of an animated feature.

The film received warm reviews, although not quite as hot as those of the “Frozen” prequel.

“There was certainly a high bar, but the creative team put together a journey that feels really authentic,” Disney president of global distribution Cathleen Taff told Variety. “It’s resonating with fans and general audiences alike, so we think it will play right into the holiday weekend.”

Big Box Office Bucks For Disney

The long weekend is expected to drive momentum, and Walt Disney Co (NYSE: DIS) earnings, through week two.

“Riding the wave of a spectacular year in movie theaters, Disney does it again with the bigger-than-expected debut of ‘Frozen II’ that sets the stage for a much-needed strong holiday season and for the film to become the sixth Disney film to cross $1 billion globally this year,” said Paul Dergarabedian, senior media analyst at Comscore.

Domestically, the film raked in $127 million to set a November record for animated movies and an all-time record for Walt Disney Animation. Comparatively, the original “Frozen” seized $93 million in its first five days before going on to claim $1.3 billion worldwide.

&Back in August, Disney hit a new record $7.67 billion in yearly global revenue.

Why It Matters

The strong performance earned “Frozen II” a number of domestic records. It became the first animated feature to post a triple-digit opener outside the summer, and it had the third-best opening weekend for an animated movie behind the $182 million launch of “Incredibles 2” and $135 million debut of “Finding Dory.”

Internationally, “Frozen II” earned $223 million.

The film’s hot opening ignited not only Disney but also parallel markets. UBS upgraded Hasbro, Inc. (NASDAQ: HAS) to account for Frozen-driven sales momentum.

Disney's stock ticked higher to $149.31 per share t time of publication.

Related Links:

Disney Sets A Box Office Record 5 Months Early

Analysts Marvel At Disney's Box Office Potential This Year

Photo credit: Frozen 2 | Official Trailer 2

Posted-In: Frozen 2 Paul Dergarabedian PixarNews Events Top Stories Media Best of Benzinga

 

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