DIS Shareholders and Stock Info ONLY

[wabbott]

https://variety.com/2022/film/news/...f-water-1-17-billion-global-gross-1235476370/

Dec 30, 2022 10:35am PT
Box Office: James Cameron’s ‘Avatar: The Way of Water’ Hits $1.17 Billion Globally
By Brent Lang

“Avatar: The Way of Water” continues to dominate the holiday box office.

James Cameron’s epic adventure has now hit the $1.17 billion mark globally, becoming the third highest-grossing film of the pandemic era, behind “Spider-Man: No Way Home” with $1.9 billion and “Top Gun: Maverick” with $1.5 billion.

On Wednesday, “Avatar: The Way of Water” grossed $20 million domestically, bringing its Stateside haul to $358 million. It added $47.9 million to the pot from international markets. That puts its foreign gross at $810.6 million. It now ranks as the highest-grossing international release of the year.

But the “Avatar” sequel carries a massive price tag. Cameron has suggested that in order to break even, “Avatar: The Way of Water” needs to be one of the highest-grossing movies in history. Sources close to the production claim he was being somewhat hyperbolic and set the break-even figure at closer to $1.4 billion — a milestone that the sequel has a good chance of achieving.

“Avatar: The Way of Water” focuses on the Sully clan as they face down a set of invaders that threaten the harmony of Pandora, their mystical home planet. Cameron developed new technology that allowed him to shoot performance capture sequences underwater and the cast learned to free dive so they could hold their breath during extended action scenes.

“Avatar: The Way of Water” brings back Sam Worthington, Zoe Saldaña, Stephen Lang and Sigourney Weaver, the stars of the first “Avatar.” It also includes franchise newcomer Kate Winslet, who previously starred in Cameron’s “Titanic” another water-based epic that defied the odds to become a box office sensation.

https://deadline.com/2022/12/avatar-the-way-of-water-box-office-1-billlion-1235207219/

‘Avatar: The Way Of Water’ Tops $810M Overseas On Way To $1.3B+ Global Through Sunday
By Nancy Tartaglione
International Box Office Editor/Senior Contributor
December 30, 2022 10:20am

FRIDAY UPDATE: James Cameron’s Avatar: The Way of Water continues to splash out at the global box office, reaching $1.169B through Thursday, on its way to a $1.3B+ cume through Sunday.

With an added $48M from international markets on Thursday, WoW lifted its overseas cume to $810.6M, to overtake Top Gun: Maverick as the No. 1 international release of 2022 and No. 2 studio movie of the pandemic era offshore. It has also become the highest grossing film of the pandemic in France and Italy as well as the highest grossing film of 2022 in France, Italy, Germany and Spain.

As we’ve previously noted, the midweeks are showing great strength. The sequel has earned almost $300M globally in the four midweek days this week; that’s significantly more than last weekend’s global 3-day haul.

On Friday, and not included in the totals above (nor below), China added an estimated $5.4M for a running cume of $122.5M and Maoyan has again upped its final projection, this time to $192.8M. In Korea, the Friday was worth an estimated $3.4M for a running cume of $66.6M.

Here are the Top 10 markets through Thursday: China ($115.8M), France ($81.6M), Korea ($61.6M), Germany ($57.7M), UK ($45.1M), India ($43.8M), Mexico ($32.7M), Australia ($29.5M), Italy ($27.1M) and Spain ($24.6M).

 

[wabbott]

https://variety.com/2022/film/news/...eekend-box-office-black-panther-2-1235476837/

Dec 31, 2022 7:59am PT
‘Avatar: The Way of Water’ Dominating New Year’s Weekend Box Office With Projected $87 Million Holiday Haul
By Brent Lang

“Avatar: The Way of Water” is closing out 2022 on a high note.

James Cameron’s ambitious and mega-expensive return to Pandora dominated the Friday box office, earning $24.4 million to push its domestic total to $382.6 million. The film is on track to gross $66.8 million this weekend or $87.8 million over the four-day holiday (most businesses are giving Monday off because New Year’s falls on Sunday).

By the time the long weekend is over, “Avatar: The Way of Water” may have sailed to more than $445 million, overtaking “Black Panther: Wakanda Forever” as the second highest-grossing domestic release of 2022. Disney produced both movies — the company acquired the rights to “Avatar” as part of its purchase of much of 20th Century Fox’s entertainment assets in 2019. “Top Gun: Maverick” is still the top domestic ticket seller with $718.7 million in revenues.

Currently, “Avatar: The Way of Water” is the fourth highest-grossing domestic release of 2022, just behind “Doctor Strange in the Multiverse of Madness” with its $411.3 million total. But it’s moving up the chart at a rapid clip.

 

[wabbott]

https://deadline.com/2023/01/avatar-the-way-of-water-box-office-new-years-2023-1235208802/

‘Avatar: The Way Of Water’ Passes $400M Mark At Domestic Box Office, 4-Day Now At $82M+ – Sunday AM Update
By Anthony D'Alessandro
Editorial Director/Box Office Editor
January 1, 2023 8:22am

SUNDAY AM, NEW YEAR’S DAY: While New Year’s Eve is typically a better moviegoing day than Christmas Eve, business was still down yesterday at -27% from Friday for all movies. That’s a similar decline to last weekend’s Friday-to-Christmas Eve (-26%). However, New Year’s Eve made more than Christmas Eve, $27.9M to $22.2M. Moviegoing is expected to be +19% on New Year’s Day today, and there will be an extra cushion in Monday, Jan. 2, as many typically have off in honor of the Sunday holiday. Per our sources, weather wasn’t an issue this weekend.

Disney/20th/Lightstorm’s Avatar: The Way of Water did $18M yesterday, taking its running total to $400M. Revised 3-day is $63.4M (+2% from last weekend, great), and 4-day is $82.4M, for a new domestic cume by EOD Monday of $440.5M. If those Disney estimates stick, Avatar 2 will be $400K shy of Rogue One‘s running total through its first 18 days. It took Rogue One another two weeks before it crossed the half billion mark stateside, the pic’s final total being $532.1M.

Through end of Sunday, Disney is reporting a $1.37 billion running global total for Avatar 2. Also by Monday, the 3D spectacle will pass the running domestic box office of Black Panther: Wakanda Forever ($439.6M). By hitting $400M yesterday, Avatar 2 officially becomes the third Disney title to cross that threshold after Black Panther 2 and Doctor Strange 2 for 2022.

Rivals got excited and over-forecasted Avatar 2 for the 3-day and 4-day stretch, believing Saturday would be a $19.6M-$19.8M day. Again, today and Monday could put the James Cameron-directed, Jon Landau-produced sequel back on course to wild money.

Imax auditoriums added $8.4M to this weekend’s gross, -6% from last weekend, and repping 13.2% of 3-day ticket sales. Imax has racked up $55.3M from Avatar 2 so far in North America.

 

[wabbott]

https://deadline.com/2023/01/avatar-the-way-of-water-box-office-new-years-2023-1235208802/

‘Avatar: The Way Of Water’ To Pass ‘Rogue One’ Today With $444M+, 4-Day Now At $86M+ – Monday AM Update
By Anthony D'Alessandro
Editorial Director/Box Office Editor
January 2, 2023 7:33am


MONDAY AM UPDATE: Sunday came in stronger for Avatar: The Way of Water than Disney expected, grossing a great $24.4M to what was thought to be $21M. That’s the third biggest New Year’s Day haul of all-time after The Force Awakens ($34.3M) and James Cameron’s first Avatar ($25.2M). Avatar 2‘s New Year’s Day was even bigger than that of Spider-Man: No Way Home ($23.1M) last year.

The third weekend of the James Cameron title rises to $66.8M, +6% from its Christmas weekend, with a 4-day of $86.3M. By the end of today, it’s expected that Avatar 2 will pass the $440.9M 18-day total of Rogue One with $444.4M.

Why is that such a big deal? Because that 2016 Star Wars prequel has been used as the comp for this mega-tentpole, which was slower out of the gate than tracking initially forecasted. 2016 was the last time that Christmas fell on a Sunday, and New Year’s Day 2017 too.

Avatar 2‘s $24.4M Sunday also bests Rogue One‘s New Year’s Day gross of $16.7M.

 

[clarker99]

https://deadline.com/2023/01/avatar-the-way-of-water-box-office-new-years-2023-1235208802/

‘Avatar: The Way Of Water’ To Pass ‘Rogue One’ Today With $444M+, 4-Day Now At $86M+ – Monday AM Update
By Anthony D'Alessandro
Editorial Director/Box Office Editor
January 2, 2023 7:33am


MONDAY AM UPDATE: Sunday came in stronger for Avatar: The Way of Water than Disney expected, grossing a great $24.4M to what was thought to be $21M. That’s the third biggest New Year’s Day haul of all-time after The Force Awakens ($34.3M) and James Cameron’s first Avatar ($25.2M). Avatar 2‘s New Year’s Day was even bigger than that of Spider-Man: No Way Home ($23.1M) last year.

The third weekend of the James Cameron title rises to $66.8M, +6% from its Christmas weekend, with a 4-day of $86.3M. By the end of today, it’s expected that Avatar 2 will pass the $440.9M 18-day total of Rogue One with $444.4M.

Why is that such a big deal? Because that 2016 Star Wars prequel has been used as the comp for this mega-tentpole, which was slower out of the gate than tracking initially forecasted. 2016 was the last time that Christmas fell on a Sunday, and New Year’s Day 2017 too.

Avatar 2‘s $24.4M Sunday also bests Rogue One‘s New Year’s Day gross of $16.7M.

This is turning into quite the story. I did not expect Avatar 2 to be such a juggernaut. James Cameron knows what he is doing.

 

[BrianL]

This is turning into quite the story. I did not expect Avatar 2 to be such a juggernaut. James Cameron knows what he is doing.

There were so many nay-sayers early on too - all of the people who insisted that Avatar isn't really that popular despite it being the number-one all-time box-office champion. It looks like it is in fact worthy of that title.

 

[wabbott]

This is turning into quite the story. I did not expect Avatar 2 to be such a juggernaut. James Cameron knows what he is doing.

There was some "informed speculation" early on that A2 would have "legs," as was the case with the original. LOL, I suppose moviegoers are as fickle as parks guests. If something catches a buzz, everyone else wants to do it, too.

 

[Jrb1979]

Avatar 2 doing well is great and glad to see people heading back to the theatres is good. As good as the movie is doing, it's done nothing for the stock.

 

[clarker99]

Avatar 2 doing well is great and glad to see people heading back to the theatres is good. As good as the movie is doing, it's done nothing for the stock.

This success probably makes Avatar a tent-pole IP for Disney. Cameron has 3 more (I think) Avatar movies in the pipe-line. Every other Christmas until 2028. Ideas beyond Marvel and Star Wars making box office money has to be a good thing.

I have time for negativity around the stock price but has a single movie ever moved a stock? I am just not sure $DIS goes up or down on box office numbers.

 

[wabbott]

https://deadline.com/2023/01/avatar-the-way-of-water-box-office-new-years-2023-1235208802/

‘Avatar: The Way Of Water’ Scores Monday January Record With $21M+, 4-Day Rises To $88M, Looks To Best Blumhouse’s ‘M3GAN’ Opening – Tuesday AM Update
By Anthony D'Alessandro
Editorial Director/Box Office Editor
January 3, 2023 9:50am PST

TUESDAY AM UPDATE: .20th Century Studios/Lightstorm/Disney’s Avatar: The Way of Water came out of New Year’s weekend on a roll scoring the best January Monday ever with $21.1M, ahead of American Sniper‘s Jan. 19 day back in 2015 of $17.9M. The 4-day run was $88M for the James Cameron directed sequel, -8% from its 4-day Christmas weekend, with a running total of $446.1M, 1% ahead of its comp Rogue One: A Star Wars Story through its first 18 days. It’s also ahead of Black Panther: Wakanda Forever‘s eight weekend running total of $439.5M.

Industry estimates believe that Avatar 2‘s fourth weekend will be between $25M-$30M beating new wide release, Universal/Blumhouse’s PG-13 genre title M3GAN which is looking at $17M, despite tracking have that film higher in the lower $20Ms. Showtimes start Thursday at 5PM. Young females under 25 are the prime demo.

Avatar 2‘s Monday is well ahead of Rogue One‘s $15.9M January 2 Monday (back in 2017) and 34% ahead of its 4-day of $65.5M. Avatar 2‘s Monday beats the first January Monday of Spider-Man: No Way Home ($7.9M), Force Awakens ($8M) and Last Jedi ($14.2M). Global is at $1.44 billion.

 

[wabbott]

Don't know if it's the numbers from A2 or something else, but DIS is up about 1.5% today, while the Dow is down about 0.5%

https://finance.yahoo.com/quote/DIS?p=DIS

The Walt Disney Company (DIS)
NYSE - Nasdaq Real Time Price. Currency in USD

88.22+1.34 (+1.54%)
As of 01:38PM EST. Market open.

 

[wabbott]

https://beststocks.com/analysts-issue-earnings-estimates-for-the-walt-dis/

Analysts Issue Earnings Estimates for The Walt Disney Company in the Fourth Quarter of 2024 (NYSEIS)​

by Yasmim Mendonça
January 3, 2023

NYSE: DIS – In a research report distributed to clients and investors on Wednesday, December 28, Zacks Research for The Walt Disney Company lowered its projections for Walt Disney’s earnings per share (EPS). The company’s performance during the final three months of 2024 was the subject of the analysis. A. Ganguly of Zacks Research forecasts that the earnings per share for the entertainment company will come in at $1.22 for the quarter. This represents a decrease from the previous $1.27 in the company’s earnings per share. The current average forecast for Walt Disney’s profits for the entire year calls for $4.05 per share to be earned. The previous projection was for $4.00 per share; this represents an increase from that.

Walt Disney (NYSE: DIS) announced the financial results of the company’s third fiscal quarter on Tuesday, November 8. The multinational entertainment corporation reported earnings per share for the quarter of $0.30, which was $0.20 less than the consensus estimate of $0.50 among industry professionals. Walt Disney had a return on equity of 6.96%, and the company had a net margin of 3.80% for the year. The most recent fiscal quarter of the company reported revenue of $20.15 billion, which is significantly lower than the average projection of $21.10 billion that was made for that period.

When trading started on Monday, the price of one share of DIS was $86.88 per share. There is a current ratio of 1, a quick ratio of 0.94, and the debt-to-equity ratio of 0.46. The current ratio measures how quickly assets can be converted into cash. Over the last 50 days, the moving average of the company was $94.96; over the last 200 days, it was $100.80. The company’s current market value is $158.43 billion, its beta value is 1.20, and its P/E/G ratio is 1.74. During the last 52 weeks, the cost of Walt Disney has ranged anywhere from $84.07 to $160.32, with a price of $160.32 serving the overall average.

In addition, the organization has been the focus of attention for earlier research investigations carried out by various analysts. Moffett Nathanson assigned a rating of “outperform” to Walt Disney in a research report that was made public on November 21. The company set a price objective of $120.00 for the company’s shares. The rating and price objectives were both included in the report. Additionally, a price target of $120.00 was established for the stock by Moffett Nathanson. Barclays stated in a research note published on November 9 that it had decreased its target price for Walt Disney from $105.00 to $98.00 and assigned the company an “equal weight” rating. Barclays also announced that it had assigned the company an “equal weight” rating. Cowen stated their intention to reduce their price target for Walt Disney from $120.00 to $94.00 in a research note that was published on November 9. In a research note published on November 9 that stated that the company’s price target for Walt Disney had been reduced from $143.00 to $119.00, KeyCorp gave the Walt Disney stock a rating of Overweight. The research note also stated that the company’s price target for Walt Disney had been reduced. The price objective that The Goldman Sachs Group has set for Walt Disney has been reduced from $137.00 to $118.00, and the company has been given a “buy” rating in a research report published on Wednesday, November 9. One analyst recommends selling the stock; three suggest that one should keep it in their portfolio, and 18 suggest that one should buy the stock. According to Bloomberg, the consensus price target for the company is currently set at $129.65, and an average rating of “Moderate Buy” has been assigned to it.

In recent months, the company’s stock market has been the focus of activity from several major investors, who have been buying and selling shares. During the third quarter, Vanguard Group Inc. increased the proportion of Walt Disney stock it owned by 1.5 percentage points. Following the completion of the period, Vanguard Group Inc. was the owner of 143,962,415 shares of the entertainment conglomerate’s stock. During the period, the company added 2,144,485 shares to its holdings. The total value of the company’s market shares is currently $13,579,975,000. DURING THE SECOND QUARTER, Price T. Rowe Associates Inc. (MD) added 44.2% more Walt Disney stock to its portfolio than it did during the first quarter. Price T. Rowe Associates Inc. (MD), which already owned 24,984,524 shares held by the entertainment giant, increased its holdings during the most recent quarter by purchasing an additional 7,654,961 shares. As a result of this activity, the firm now holds a total of 24,984,524 shares. The value of these shares as of right now is $2,358,539,000 in total. The additional stake in Walt Disney that Newport Trust Company acquired during the third quarter brought the company’s total investment to $1,218,240,000.

During the second quarter, Legal & General Group Plc increased its stake in Walt Disney by purchasing an additional 1.4% of its shares. As a result of the most recent quarter’s purchase of an additional 165,075 shares, Legal & General Group Plc now holds 12,365,280 of the entertainment giant’s shares. These shares have an estimated market value of $1,167,284,000. And as if that weren’t enough, during the second quarter of this year, Clearbridge Investments LLC increased the percentage of Walt Disney stock owned by 16.0%. Following the acquisition of 1,291,934 additional shares during the most recent quarter, Clearbridge Investments LLC now holds 9,363,589 of the entertainment conglomerate’s shares in its portfolio. The total value of the stock holdings held by Clearbridge Investments LLC comes to $883,923,000. The outstanding shares of stock in the company are owned collectively by institutional investors and hedge funds to the extent of 62.22%.

 

[wabbott]

https://variety.com/2023/film/box-o...-office-1-billion-internationally-1235477882/

Jan 4, 2023 9:20am PST
‘Avatar: The Way of Water’ Crosses $1 Billion Internationally, $1.48 Billion Globally
By Rebecca Rubin

James Cameron’s ambitious blockbuster “Avatar: The Way of Water” has sailed to $1.025 billion at the international box office and $1.4 billion globally, making it the 12th biggest movie in history.

In recent days, the big-budget aquatic sequel has passed “Avengers: Age of Ultron” ($1.403 billion) and “Frozen II” ($1.45 billion) in global ticket sales. It’s now aiming to crash spots eight through 11, which belong to “The Lion King” ($1.66 billion), “The Avengers” ($1.518 billion) and “Furious 7” ($1.515 billion) and “Top Gun: Maverick” ($1.49 billion).

But ideally, the mega-budgeted “The Way of Water” will eventually land among the top five movies of all time, which have each grossed at least $2 billion. If “Avatar 2” manages to reach the $2 billion club, Cameron will be responsible for three of the six-highest grossing movies in history, including “Avatar” ($2.9 billion), which is still the biggest movie ever, and “Titanic” ($2.2 billion). The rest of the chart is comprised of “Avengers: Endgame” ($2.7 billion), “Star Wars: The Force Awakens” ($2.06 billion) and “Avengers: Infinity War” ($2.04 billion).

The second “Avatar” installment is expected to dethrone “Top Gun: Maverick” on Wednesday. By passing Tom Cruise’s latest tentpole, “The Way of Water will rank as the highest-grossing movie released in 2022, as well as the second-biggest global release of the pandemic era following “Spider-Man: No Way Home” ($1.9 billion).

It’s also the first movie since “No Way Home” (and only movie released in 2022) to top $1 billion at the international box office. It currently stands as the ninth-highest grossing overseas release ever, taking down “The Fate of the Furious” ($1.01 billion) and “Jurassic World” ($1.018 billion). In individual markets, “The Way of Water” has enjoyed the strongest turnout in China ($165.5 million), followed by France ($95 million), Korea ($77.2 million) and Germany ($73.4 million).

At the domestic box office, “The Way of Water” recently overtook “Black Panther: Wakanda Forever” ($440 million) as last year’s second-highest grossing release with $457 million.

Disney, which holds the rights to “Avatar” after acquiring 20th Century Fox in 2019, spent roughly $350 million to make “The Way of Water” and at least $100 million to market the film. With those staggeringly high price tags, analysts estimate the threshold to profitability is just under $1.5 billion, meaning the sci-fi sequel has officially hit its breakeven point. So, get ready for more visits to Pandora.

Thanks to “Avatar: The Way of Water” and several Marvel blockbusters, Disney ended the year with $2 billion in North America, $2.9 billion overseas and $4.9 billion worldwide to stand as the No. 1 studio at the domestic, international and global box office in 2022. It’s the seventh consecutive year the studio has ranked as the top-earner in terms of worldwide ticket sales.

 

[wabbott]

DIS having another good day.

https://finance.yahoo.com/quote/DIS?p=DIS

The Walt Disney Company (DIS)

NYSE - Nasdaq Real Time Price. Currency in USD

92.61+3.64 (+4.09%)
As of 12:42PM EST. Market open.

 

[wabbott]

https://deadline.com/2023/01/avatar...un-maverick-best-of-2022-1235211240/#comments

‘Avatar: The Way Of Water’ Swimming Past $1.5B Global Today To Become No. 1 WW Release Of 2022
By Nancy Tartaglione
International Box Office Editor/Senior Contributor
January 4, 2023 10:08am PST

James Cameron’s Avatar: The Way of Water has now officially, and as projected, crossed the $1 billion mark at the international box office with Tuesday’s grosses included. What’s more for this 20th Century Studios/Disney juggernaut, at $1,482.5M worldwide through Tuesday, the epic sci-fi sequel is next on its way to yet another milestone and will top $1.5B global when today’s numbers are factored. In doing so, it will become the No. 1 worldwide release of 2022, surpassing Top Gun: Maverick’s $1.489B.

The overseas cume through Tuesday is $1.025B, after adding $28.3M in 52 international markets yesterday (a 44% drop from last Tuesday). WoW is the No. 1 offshore release of 2022 and No. 2 of the pandemic era. It stands as the No. 9 international release of all time, moving up from No. 11 having just passed The Fate of the Furious and Jurassic World after 21 days in movie theaters.

Globally, it is the No. 12 biggest release ever, now overtaking Disney’s own Frozen II.

Following the holiday period, and while some offshore markets still have local holidays, midweeks continue to be strong and there is plenty of runway ahead.

Not included in the totals above, China’s Wednesday brought in an estimated $3M for a local running cume of $170M. Maoyan is projecting a $215M final. Similarly not included above, Korea reached $78.8M through today.

Through Tuesday, the Top 10 overseas markets are: China ($165.5M), France ($95M), Korea ($77.2M), Germany ($73.4M), UK ($59.5M), India ($51.4M), Mexico ($39.1M), Australia ($37.9M), Italy ($33.8M) and Spain ($30.5M).

 

[wabbott]

https://www.hollywoodreporter.com/b...-fox-corp-stock-price-target-cuts-1235290633/

Disney, Warner Bros. Discovery, Paramount, Fox Corp. Face Stock Price Target Cuts

A Macquarie analyst sees Hollywood studios that rely on advertising facing mounting challenges from marketers trimming budgets and elusive streaming profitability.

January 4, 2023 7:43am PST

Macquarie media tech analyst Tim Nollen has lowered his stock price targets for Walt Disney, Warner Bros. Discovery, Paramount and Fox Corp., citing weak ad markets and elusive streaming profitability.

Nollen is the latest Wall Street watcher to weigh in as TV advertising budgets fall while marketers trim costs amid recessionary and inflation risks, and forecasts for revenue growth among U.S. media stocks are cut. The expert trimmed his price target for Disney to $110 from $120, while leaving the studio’s stock rating at “outperform.”

The media analyst sees Disney’s stock recovering if newly reinstalled CEO Bob Iger makes good on his profitability plan for Disney+ and the studio’s other streaming platforms. And those plans may involve Disney+ with ads as a new revenue stream.

“We think the lower priced ad supported tier will lure in price- sensitive viewers (crucial to getting to the management guided 135 -165 million worldwide Disney+ subs in 2024, plus up to 80 million Disney+Hotstar subs), will help resist churn, and will also provide ARPU (average revenue per-user) expansion with ad dollars to more than make up for the lower monthly subscription price,” Nollen wrote in a Jan. 4 research note. Stock in Walt Disney rose $1.59, or 1.8 percent, to $90.58 in early morning trading on Wednesday.

The Macquarie analyst also cited current ad revenue declines due to the impact of a recession and inflation stretching into 2023 to cut Warner Bros. Discovery price target to $16, from $18, while maintaining an “outperform” rating.

As with Disney’s ESPN, Nollen sees success for Warner Bros. Discovery coming in large part from an NBA broadcast deal renewal for its Turner Sports division, which pays around $1.2 billion annually to feature the pro basketball games. Despite live sports remaining a bright spot for U.S. media players, the Macquarie analyst sees NBA costs jumping at any rate with any new contract.

“The problem is the NBA is likely to demand significant price increases above the $2.6bn annually it gets from ESPN/ABC and TNT … It would not be at all surprising to see the league demand at least a 2x price increase, as the NFL did in its renewal beginning in 2023. And – surprisingly – we calculate WBD can handle this,” Nollen wrote. Stock in Warner Bros. Discovery rose by 45 cents, or nearly 5 percent, to $10.00 in early morning trading.

And Nollen also cited a weak ad market to cut Fox Corp.’s price target to $30, from $32, even as the stock rating remains “neutral.” Here, Fox’s reliance on the pay TV bundle and no video streaming platform other than Fox Nation may no longer be a virtue as ad spending and subscriber counts decline.

“Fox’s dependence on the pay TV bundle has long concerned us, warranting a discounted valuation to peers,” Nollen wrote of Fox’s high revenue exposure to advertising amid any economic downturn. Shares in Fox Corp. were slightly off 11 cents to $30.38 in early morning trading.

Paramount Global also received a stock price target cut, to $15 from $16, on continuing ad market declines, while retaining a “neutral” rating. Nollen points to a major headwind from sharply rising content costs for Paramount, especially as it looks to combine Paramount+ and Showtime later this year.

The Macquarie analyst added profitability remains the biggest issue for Paramount amid peak content investment for the studio’s streaming platforms, “so the near-term trajectory for overall earnings is straight down. Any effort to rein in costs could therefore be taken well by the markets.”

The price cut is the latest in recent days for Paramount. Alan Gould, managing director at Loop Capital Markets, released a research note on Dec. 23 downgrading the Bob Bakish-run conglomerate from “hold” to “sell” with a stock price target of $14. In one of the highlights, the analyst focused on direct-to-consumer (i.e. streaming platform) losses and uncertain guidance from the firm on profitability. “DTC division losses should be $1.8-$1.9 billion this year, almost double last year’s loss. Management has projected losses will peak in 2023, but has not provided a time frame for break-even,” Gould noted.

Shares in Paramount Global also climbed on Wednesday, by 41 cents, or 2.5 percent, to $17.48 in early trading.

 

[wabbott]

https://www.hollywoodreporter.com/m...e-way-of-water-box-office-top-gun-1235290677/

‘Avatar: The Way of Water‘ Swims Past ’Top Gun: Maverick’ at Global Box Office
James Cameron's sequel remains a formidable player nearly three weeks after it began rolling out across the globe.
January 5, 2023 9:16am PST
By Pamela McClintock

James Cameron’s Avatar: The Way of Water has overtaken Top Gun: Maverick at the global box office to become the top-grossing film released in 2022.

Through Wednesday, the 20th Century/Disney release has earned $454 million domestically, and crossed $1 billion internationally for a worldwide cume of $1.51 billion. It also is now the No. 10 top-grossing film of all time, and the second-best of the pandemic era behind Spider-Man: No Way Home‘s $1.916 billion.

Paramount’s Top Gun 2 grossed a hefty $1.49 billion globally following its release in May 2022.

When the The Way of Water first opened, some said the big-budget tentpole launched behind expectations in its opening weekend. The movie quickly made up ground.

Cameron is known for defying the odds. Over the past 25 years, he has proven his naysayers wrong twice when Avatar, and a decade earlier, Titanic, became the top-grossing films of all time at the worldwide box office.

When doing press for the film, Cameron suggested it would need to earn in the $2 billion range to be considered a success (sources say the break-even number is around $1.4 billion). The Way of Water is one of the most expensive movies ever made, with an estimated production budget of more than $400 million and a marketing spend that brings the total price tag to at least $600 million, according to sources. It also runs three hours and 12 minutes, whereas the first Avatar ran 30 minutes shorter.

In December 2009, Avatar opened to a relatively modest $77 million on its way to grossing $2.92 billion globally, including rereleases, to rank as the top-grossing film of all time, not adjusted for inflation.

 

[Jrb1979]

Anyone else here worried about the Parks attendance and profit going forward? Them putting out these discounts for summer which used to be a busy time of year says bookings are soft. Doesn't look good.

 

[HokieRaven5]

The @WaltDisneyCo will discuss fiscal first quarter 2023 financial results via a live audio webcast beginning at 4:30 p.m. ET / 1:30 p.m. PT on Wednesday, February 8, 2023.

 

[Jrb1979]

The @WaltDisneyCo will discuss fiscal first quarter 2023 financial results via a live audio webcast beginning at 4:30 p.m. ET / 1:30 p.m. PT on Wednesday, February 8, 2023.

I might be the last good fiscal quarter in a while.