NEW YORK (TheStreet) -- Comcast's (CMCSA), the country's largest pay-TV operator, is poised to get a substantial boost this quarter from its filmed entertainment sector, which is enjoying a windfall of box-office receipts from Jurassic World.
The film, yet another sequel to the 1993 hit Jurassic Park, generated $208.8 million in box office sales in its opening weekend in the U.S. and Canada, the largest ever, narrowly besting Avenger's $207 million debut in 2012. The film blew away analyst estimates and claimed the record for most worldwide sales that totaled $511.8 million, topping Harry Potter and the Deathly Hallows Part 2's $483 million worldwide debut.
"Well, we didn't see this coming," said Wells Fargo senior analyst Marci Ryvick in a June 6 note. The firm had expected $115 million in opening-weekend sales. "And from most of the press reports we've read so far, it seems like nobody else did either. And to think, last year there was talk of the film industry's demise."
Hollywood loves its blockbusters. When a film far exceeds estimates, as Jurassic World has done, it underscores why the largest media companies continue to invest millions into making movies that can play as well domestically as they might in countries around the world.
Prior to this weekend, Time Warner (TWX), with films San Andreas and American Sniper pushing ticket sales to $885 million year-to-date, had been the top selling studio in 2015, but Jurassic World propelled Universal Studios into the lead with more than $1 billion, Bloomberg reports.