Can the New Star Wars Film ‘Awaken’ a Drowsy Movie Industry?
It has been a lackluster year for the big screen. Although worldwide box-office spending is on track to top $11 billion - a record level - ticket sales in the U.S. have risen just 4 percent in 2015 and only 2 percent over the last four years, according to Box Office Mojo. Amid the softness in the market, there were still were a few hits. NBCUniversal, owned by Comcast (CMCSA), had a huge year. 'Jurassic World' and 'Furious 7' brought in $3 billion. Disney (DIS) also had sizable results from 'Avengers: Age of Ultron' and 'Inside Out' with combined sales topping $800 million. And all eyes are on Disney’s next big hit, 'Star Wars: The Force Awakens,’ which hits theaters on December 18th and could see sales of $2 billion. Another imminent hit? ‘The Hunger Games: Mockingjay, Part 2’ - it's the finale of the blockbuster movie franchise and is released Friday. It's expected to bring in $120 million in sales during its opening weekend alone. Analysts say releasing films during the holiday season is appealing. There's less competition than summer - when movies are usually released on a weekly basis. And the holiday season is synonymous with shopping, which bodes well for movie-themed merchandise. For Disney, merchandise represented about 8 percent of its total revenue in 2014. TheStreet’s Scott Gamm has details from New York.
