Few new films are looking to make up for the long Thanksgiving-weekend box office, but as in years past, it looks like Disney’s (NYSE: DIS) on the other side of the weekend.
Black Panther: Wakanda Forever (DIS) is likely to stay on At the top of the list, a modest drop suggests the superhero hit will hit the $40M mark for the longest weekend. The Marvel film’s first two weeks have resulted in a domestic total of $294.2M, for a worldwide total of $552.2M so far.
But Disney is also developing a new studio animated film, an adventure/sci-fi/comedy. strange world to capture family audiences, and it has an outside chance to top the overall chart over the long weekend — even $40M-plus won’t quite compete with some of Disney’s pre-Thanksgiving season blockbusters (like Frozen II over $123M in 2019).
Meanwhile, some new dramas are trying their hand in theaters during the difficult times for the genre. Steven Spielberg’s next film Fableman (CMCSE) kicks off its wide-release Oscar campaign this weekend, albeit in just 600 theaters, and the wartime drama insanity (SONY), about the first black aviator in the U.S. Navy, may be fighting Spielberg’s film for single-digit grosses.
and horror/drama Bones and all (AMZN), starring Timothée Chalamet and Taylor Russell, expands to a nationwide release, although The Cannabis Story targets a more limited audience.
Another notable result comes from Netflix ( NFLX ), though it won’t make the overall calculation. The Glass Onion: A Knife Out Mystery, A sequel to the surprise hit take out the knife It only hit a few hundred theaters for a week before going dark again and reappearing on Netflix in time for Christmas. But the streamer will not report the total image.
As usual, the only cheering for business this holiday weekend are the exhibiting stocks: AMC Entertainment (AMC); Cineworld (OTCPK:CNNWQ); Cinemark (CNK); (IMAX); Marcus (MCS); Reading International (RDI); Cineplex (CGX:CA); National Cinemedia (NCMI).
Those cinema stocks took a big advance thanks to news that Amazon.com ( AMZN ) was committing more than $1B to a plan to release 12-15 original movies to theaters each year.