DIS Shareholders and Stock Info ONLY

https://www.msn.com/en-us/money/com...r-many-americans-it-s-now-youtube/ar-BB1mmmvi

What’s on TV? For Many Americans, It’s Now YouTube
People spent nearly 10% of their TV-viewing time watching the service, home to videos by creators like MrBeast

By Sarah Krouse and David Marcelis
May 14, 2024 - 5:30 am EDT

Nearly 10% of the time Americans spent in front of TV screens last month was on YouTube’s flagship smart-TV app, Nielsen data show, a sign of continued transformation of the platform. Once a repository of amateur videos, the service owned by Alphabet’s Google has grown into a streaming behemoth with full-length films, highly produced series, sports highlights and live events.

Today, 150 million people in the U.S.—more than 40% of the population—watch YouTube on connected-TV screens each month, a spokeswoman for the platform said. It has benefited from new features that let viewers shop or chat with one another while watching big events, like a livestream of last month’s Coachella Valley Music and Arts Festival.

Unlike traditional media companies, which have to pay hefty sums upfront for programming that they hope will bring in larger amounts of subscription and advertising revenue, YouTube incentivizes the creation of content by sharing 55% of revenue from ads that run in creators’ long-form content, and 45% of revenue from ads on their short-form videos.
 


https://deadline.com/2024/05/bob-iger-disney-upfront-1235915873/

Bob Iger Returns To Upfront Stage For First Time Since 1994 With Pitchman Praise For Disney’s “Creative Excellence” & Jimmy Kimmel’s Roast To Follow
By Dominic Patten - Executive Editor, Legal, Labor & Politics
May 14, 2024 - 1:43pm PDT

“I am deeply optimistic about our company, and in a world that is so in need of entertainment is a true privilege,” said Disney boss Bob Iger today in a rare appearance on stage at the start of Disney’s upfront presentation in New York City.

As he noted from the get-go, this is the first time Iger has been in front of advertisers and other clients on an upfront stage since he ran ABC back in the early days of Bill Clinton’s presidency.

The upfront won’t be Iger’s only stint on stage this week. The CEO will be speaking at MoffettNathanson Media and Communications Summit and participating in a Q&A.
 


Do we need to bury every comment and/or conversation in this thread under copy/pasted articles? For an article, can we just post a headline, a short excerpt and a link? Just my 2 cents.
Thought it was just me. Couldn’t agree more! Especially hate having to scroll so much when it’s an article I’m not interested in.
 
I guess Bob did not impress at today's conference (listing to it now).
And I'm Netflix's encroachment into live sports doesn't help:.

Top Midday Stories: Netflix to Stream 2 NFL Games on Christmas Day; AMC, GameStop Shares Plummet After Meme-Stock Rally; Amazon Warehouse Workers Struggle With Food, Housing Insecurity

11:53 AM EDT, 05/15/2024 (MT Newswires) -- The S&P 500 and Nasdaq Composite both hit record highs Wednesday as investors responded warmly to a slower-than-expected consumer price index inflation report.

In company news, Netflix (NFLX) and the National Football League announced Wednesday that the streaming service secured broadcast rights to two Christmas Day games. Netflix will also stream at least one NFL game on Christmas Day in 2025 and 2026, the company said. Shares of the company were down 0.4%.
Shares of AMC Entertainment (AMC) and GameStop (GME) slumped on Wednesday after the companies experienced significant gains amid the "meme stock" run seen earlier this week. AMC's stock was down 21.5%, while GameStop's was down 32.5% in late-morning trading.

Walt Disney (DIS) will cut its marketing expenses for its Disney+ streaming service as it seeks to reach a profit on that business, Chief Executive Bob Iger said Wednesday. The reduction in marketing expenses will coincide with the company's efforts to increase engagement and a crackdown on password sharing, Iger said. Disney shares were down 2.8%.
 
https://www.hollywoodreporter.com/business/business-news/disney-bob-iger-streaming-1235899938/

Bob Iger Reflects on Disney’s Streaming Launch: “We Invested Too Much”​

The studio boss talked about his turnaround strategy to boost audience engagement and manage traditional TV and digital assets seamlessly.

  • Etan Vlessing
  • MAY 15, 2024 7:23AM PDT
Disney CEO Bob Iger gave a mea culpa for big losses incurred while launching streaming platforms like Disney+ during an investor conference appearance on Wednesday.

“As we got into the streaming business in a very, very aggressive way, we tried to tell too many stories. Basically we invested too much, way ahead of possible returns. It’s what led to streaming ending up as a $4 billion loss,” Iger told the MoffettNathanson Media, Internet & Communications Conference during a session that was webcast.

Iger addressed a falling out with his hand-picked successor, former Disney CEO Bob Chapek, whose tenure he called out for lavish and misplaced content spending. “It was clear to me that our structure was not working, because we were removing accountability from those that were basically investing the most capital was a mistake,” he argued.

Iger said Chapek had moved the P&L (profit and losses) responsibility to the studio’s distribution arm, a move he reversed on his return as CEO in 2022.

The result of spending more on content than could be turned to profit “resulted in volume and not quality, which turned out to be a mistake,” Iger added. The Disney boss conceded volume was required to win the streaming wars against rivals like Netflix and Prime Video.

But he added: “There’s a very fine line that you can cross and get in trouble if your volume ends up diluting management’s attention to what is being made is right. And that’s what happened to us. So I have pulled that back,” Iger told the conference.

As part of his turnaround plan for Disney, Iger said he reinstalled a link between the creative and monetization sides of the studio “to basically help guide what was being made, when it was being made and where, meaning internationally.”

He reiterated his respect for rival Netflix for being able to engage users with appealing content. “I’ve been telling everybody good isn’t good enough. It has to be great. Just keep driving that, but if you force them to make too much, then that becomes almost impossible to do,” Iger added, returning to the thorny question of balancing volume with quality.

To drive engagement, Iger’s evolving streaming strategy has included bundling Disney+ with Hulu. “I won’t get into too many details there, but if you are a Disney+ subscriber, for an extra $2 you can get Hulu ad-supported … The combination of those two is an engagement play more than anything else,” Iger said.

He added bundling Disney+, Hulu, and ESPN+ to get all three streaming services together potentially can “increase engagement to an extraordinary level.” Iger also addressed his 2022 statement made when he was no longer Disney CEO, but about to return to replace Chapek, that traditional TV was “marching to a distinct precipice, and it’s going to be pushed off.”

That was followed by Iger when back at the Disney helm announcing he was looking at all options, including a possible sale of ABC, ESPN and its linear TV assets. He has since revised his strategic thinking around Disney’s linear TV assets, he told the investors conference, and now sees them as part of a wider slate of assets to engage consumers.

“When I came back, I did declare everything was on the table,” Iger recalled of a root and branch look at the studio’s asset base. “And I looked very expansively at traditional media. Ultimately I concluded – and I know I mentioned the word portfolio — where it’s not going to be a growth business, but it could become an important component to our ability to basically engage with the consumer,” Iger argued.

Along with that strategy, Disney had reduced its content spend for traditional TV networks, invested in some and then managed them seamlessly with streaming platforms, whether that’s ABC or Hulu. “So you have the same executives managing both, and their goal is to drive basically bottom line growth and success,” Iger argued.
 
https://finance.yahoo.com/news/netf...0-million-monthly-active-users-191551448.html

Netflix ad tier reaches 40 million monthly active users
Alexandra Canal · Senior Reporter
Wed, May 15, 2024, 2:15 PM CDT

Netflix (NFLX) told advertisers at its second Upfront presentation on Wednesday that its ad tier has reached 40 million global monthly active users — a significant jump from the 15 million users the company revealed back in November and a 35 million increase compared to the year-ago period.

The ads plan now accounts for over 40% of all Netflix sign-ups in the markets it's offered in.
 
https://finance.yahoo.com/news/netf...0-million-monthly-active-users-191551448.html

Netflix ad tier reaches 40 million monthly active users
Alexandra Canal · Senior Reporter
Wed, May 15, 2024, 2:15 PM CDT

Netflix (NFLX) told advertisers at its second Upfront presentation on Wednesday that its ad tier has reached 40 million global monthly active users — a significant jump from the 15 million users the company revealed back in November and a 35 million increase compared to the year-ago period.

The ads plan now accounts for over 40% of all Netflix sign-ups in the markets it's offered in.
Dis+ 22.5m ad tier subs
ESPN+ 24.8m
Hulu 25m+ (Complete guess but reasonable to believe at least half of the 50m subs are ad tier. There are reports it is up to 90%)

So, Disney may have 75m+ ad tier subscribers.

EDIT: https://thestreamable.com/news/anal...sts-force-consumers-to-ad-supported-streaming
 
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Apologies for posting the entire article, but this one gives a comprehensive overview of the business of Hollywood at this point in time.

https://www.ft.com/content/ead41458-915a-47d0-b49b-be0f4236e303

Paramount: the takeover battle that could reshape HollywoodThe tussle for the venerable studio has been billed as the money men against the creatives, but the outcome may help decide who survives in the streaming era

by Christopher Grimes in Los Angeles and Anna Nicolaou and James Fontanella-Khan in New York
5/15/2024

Over its 98-year history, the Paramount Pictures studio lot has survived the arrival of talking pictures, bankruptcy, the Depression, the rise of TV and a range of different owners.

The question now is whether the 65-acre property on Melrose Avenue — the last major studio left in Los Angeles’ Hollywood district — can survive the streaming era.

The Redstone family, which has controlled Paramount since 1994, is considering a sale of the company behind Sunset Boulevard, The Godfather, Chinatown and Titanic. The fate of the studio could rest on which of the two bidders — one backed by the movie-loving son of a tech billionaire, the other by a leading private equity firm — comes out on top.

Wall Street analysts have begun calculating how much the lot could fetch if sold. “Maybe the studio lot is worth $1.5bn-plus, given the scarce resource of studio assets or just because the land has value in the heart of LA,” analysts at LightShed Partners wrote in December.

There are fears in Hollywood that Apollo, the private equity group bidding $26bn for Paramount’s assets alongside Sony, could sell the Melrose property if its offer is accepted. Apollo says it is seeking to buy “the whole company”.

David Ellison’s entertainment company, Skydance, with backing from private equity groups RedBird Capital and KKR, is the rival bidder for Paramount. Ellison, the son of Oracle co-founder Larry Ellison, is said to hold great affection for the lot and wants to keep it.

The future of the studio property is a relatively minor detail in the larger negotiations over Paramount. But its sale would have an outsized symbolic impact in Hollywood, which has been shaken in recent years by the rise of streaming services, a pandemic that shuttered cinemas worldwide, two lengthy labour strikes and thousands of job losses.

The share prices of Paramount and another century-old studio, Warner Bros, have both more than halved over the past five years. Another indicator of the troubled state of Paramount — and the broader concerns about the other legacy Hollywood studios — is the size of the Apollo-Sony bid. It values Paramount’s equity at around $12bn, roughly what the late media magnate Sumner Redstone paid for it in 1994. That sum would be more than $21bn today after adjusting for inflation.

Many bankers and industry executives say the “big five” Hollywood studios — Paramount, Warner, Disney, Universal and Sony — could shrink to three in the next few years. “Are we in the middle of a scaling back in Hollywood?” asks one LA-based dealmaker. “Absolutely.”

Tom Nunan, executive producer of the Oscar-winning film Crash and a lecturer at the UCLA School of Theater, Film and Television, says there is a “pall” over Hollywood. “There’s a re-examination of what business we’re in. What everyone can agree on is that the business seems to be broken.”

The source of this malaise is Netflix and the streaming revolution it unleashed, which lured customers away from the cable TV channels that were studios’ cash cows for decades. They responded by spending billions of dollars building their own streaming services, but these have yet to compensate for the decline in cable — a situation bankers have likened to a “melting ice cube”.

The two bidders have different strategies for fixing Paramount but Hollywood appears to be rooting for Ellison, a movie fanatic who has produced blockbusters in partnership with Paramount including Top Gun: Maverick. He has also been endorsed by figures such as Titanic director and producer James Cameron, who tells the Financial Times: “I love the Ellison idea.”

Some investors say they prefer the Apollo offer, which they argue is less complex and better for common shareholders. “I think the combination of Sony and Apollo is perfect,” says John Rogers, chair and co-chief executive of Ariel Investments. “Apollo has so much money and expertise in putting together deals and closing transactions.”

This tension boils down to what a veteran of Paramount describes as “Wall Street money guys versus Hollywood, where they’re fiercely protective of the creative process”.

The choice between the two bidders will ultimately be made by a four-person board committee and Shari Redstone, the daughter of Sumner, who died in 2020 at the age of 97.

She controls a majority of the voting shares in Paramount and is believed to oppose any transaction that would break up the company her father built. Redstone may be considering a third option: not to sell to either group.

Paramount’s predicament has been a decade in the making.

After the entertainment industry consolidated through a series of megamergers — Comcast and Universal in 2011, Disney and Fox in 2019, Warner and Discovery in 2022 — Paramount emerged a smaller player in this new landscape.

Viewed as too small to compete on its own, the company has been the subject of feverish takeover speculation among bankers and Hollywood dealmakers for years.

Redstone has long resisted such talk. She had spent years fighting off rival executives and her elderly father’s girlfriends to finally take hold of her family’s media empire in 2019. Selling was not part of the plan. “It was her family’s legacy, so she wanted to make a run at it,” says a former Paramount executive.

Even during 2022’s “Great Correction” in Netflix shares, which dragged down the valuations of Paramount and its peers, the company pushed forward with an ambitious leap into the streaming wars.

This all began to change a year ago, when Redstone started to feel the pinch on a personal level. Last May, Bob Bakish, then chief executive of Paramount, slashed its quarterly dividend from 25 cents a share to 5 cents a share. The move rattled investors and sent the stock tumbling.

It also had an impact on Redstone’s own finances. National Amusements (NAI), the Redstone holding company and cinema chain founded by her grandfather in 1936, emerged from the pandemic heavily in debt. NAI relied on the cash from Paramount’s dividends to help pay the loans. “The dividend cut had an impact on the family business,” says one person familiar with the matter.

Redstone was also profoundly affected by the October 7 Hamas attack on Israel, and has been spending more of her time on efforts to combat antisemitism, says a person close to her. Another person, involved in one of the bids, says she has “been in this for a long time . . . I think she’s ready to move on.”

She sought out the help of Byron Trott, a former Goldman Sachs banker known as a discreet adviser to some of America’s wealthiest individuals, including Warren Buffett and Michael Dell.

His BDT & MSD merchant bank was brought in to manage NAI’s debt — as well as a potential sale process at Paramount Global. He arranged a loan to NAI of about $125mn last year to help repay part of $500mn in borrowings from Wells Fargo.

Trott advised Redstone that she had two choices: find a way to restructure internally, or sell part or all of Paramount. “For Shari, there was a certain emotional component to this,” says a seasoned media executive. “She was estranged from her dad for a long time, but they reconciled towards the end of his life. She became the steward of his legacy.”

“When she finally achieved that, selling was not something she was comfortable doing because it was her family’s legacy,” the person adds.

Then last summer Redstone was approached by Ellison, who is almost three decades her junior. It was the beginning of a conversation that has carried on for nearly a year, kick-starting a chaotic bidding war over some of Hollywood’s most storied assets.

Like Redstone, Ellison had spent much of his life in the shadow of a hard-charging billionaire father. With funding from Larry, Ellison founded his own Hollywood studio in 2010 when he was 27, naming it Skydance after his love of stunt flying. His sister, Megan, also pushed into Hollywood with her own studio, Annapurna Pictures, which has made films such as American Hustle.

David Ellison has built a strong reputation among Hollywood’s creative class and has co-produced a series of films with Paramount, including recent iterations of Mission: Impossible and Terminator.

Ellison’s interest was “innovative and different” from other approaches she had received, says a person close to Redstone, adding that she saw in him another owner-operator who could provide safe hands for Paramount.

But Redstone’s discussions with Ellison drove a wedge between herself and Bakish, previously a loyal ally. He began searching for alternative deals in a bid to save his job, enlisting the informal help of LionTree banker Aryeh Bourkoff, according to people familiar with the matter.

Bakish’s efforts were successful in flushing out another bidder: Apollo, first on its own, then with Sony Pictures. But his manoeuvring also agitated the rest of the board, and in late April he was pushed out.

He has been replaced by a trio of longtime company executives — a scenario that has left the group in a state of limbo as its thousands of staff wait to find out if a deal will be made, and if so with whom.

Some saw Bakish’s exit as a sign of dysfunction at Paramount. “It’s just extraordinarily odd and unprecedented to let go of the CEO in the middle of a transaction,” says Rogers, of Ariel. “It was just totally illogical.”

Both of the bids for Paramount face significant hurdles.

Skydance, which has made its final pitch to a Paramount board committee evaluating the proposals, has financially savvy backers that include Larry Ellison and RedBird founder and former Goldman Sachs banker Gerry Cardinale.

Ellison plans to revive Paramount by restructuring the film and television businesses while making its own streaming service, Paramount+, more competitive by improving its technology.

But his challenge is persuading Paramount’s outside investors to accept the structure of its proposal. Skydance’s two-step offer envisages first acquiring NAI, which holds 77 per cent of Paramount’s voting A-shares. That would give Redstone an immediate $2bn cash payday and Skydance voting control of Paramount, albeit with only about a tenth of the economic rights.

People briefed on the proposed transaction say Skydance and Paramount would then merge in an all-stock deal that, based on Skydance’s $5bn private valuation, implies a premium of about 30 per cent for Paramount’s other shareholders. In total, they say Ellison’s group would be investing about $10bn into Paramount, including a $3bn capital injection into the business.

But independent Paramount shareholders, most of whom own the non-voting B-shares, have rebelled. They say the deal disproportionately favours Redstone over other investors. In an effort to win them over, the Ellison consortium sweetened its bid recently, throwing in an extra $1bn of cash to Paramount’s minority shareholders.

By contrast, the Apollo-Sony approach gives all Paramount’s shareholders, including Redstone, the same cash premium for their shares. The two companies plan to restructure Paramount by cutting costs, creating new synergies with Sony and potentially spinning off assets. Sony, which chose to sell its shows to streamers instead of compete with them, is unlikely to want to keep the Paramount+ service.

Their proposal comes with more regulatory risk, however. Given its Japanese ownership, Sony Pictures could be barred from owning Paramount’s CBS news network while Apollo, which already owns TV broadcasters, could run into ownership caps.

Apollo and Sony say they can structure the deal in a way that avoids upsetting the authorities. “From a regulatory perspective, we feel very comfortable with a deal getting through,” says a person involved in the joint bid.

But Washington has been tough on media deals in recent years, having in 2022 blocked Paramount’s proposed $2.2bn sale of book publisher Simon & Schuster to rival Penguin Random House. To his frustration, Bakish ended up selling S&S to private equity group KKR a year later for $600mn less.

The Biden administration’s regulatory stance has worried some bankers and Hollywood executives who believe that consolidation is the only way to bring the industry back to life.

One possible combination that is frequently discussed is a merger between NBCUniversal, owned by cable giant Comcast, and Warner Bros Discovery. “The best thing for the business is an NBC-Warner tie-up,” says one banker, expressing a common sentiment in Hollywood.

The alternative, some say, is that tech companies will ultimately end up controlling the movie and TV business. “There’s no question there needs to be consolidation in Hollywood,” says a person involved in the Paramount talks.

The question now, both on Wall Street and in Hollywood, is whether Redstone is ready to make a deal. Some warn that she needs to act sooner rather than later.

“If there isn’t a deal, what happens? I don’t think that the prognosis is good,” says the seasoned media veteran.

“Some of these [potential acquirers] may just sit around and wait for it to run into more difficulty . . . and revisit it in six months or a year.”
 
https://www.bnnbloomberg.ca/paramount-holds-talks-with-amazon-about-expanded-partnership-1.2073584

Paramount Holds Talks With Amazon About Expanded Partnership
by Thomas Buckley and Lucas Shaw
5/15/2024

(Bloomberg) -- Paramount Global has had conversations with Amazon.com Inc. about expanding the ties between their media businesses, according to people familiar with the talks.

The discussions may not amount to anything, but are said to include bundled sales of channels, according to the people, who asked to not be identified because the conversations are private. One of the people said the talks also involved advertising.

Paramount has also had discussions with Comcast Corp. about a streaming joint venture.

The New York-based media giant has struggled with falling ad sales and a money-losing streaming business.
 
https://deadline.com/2024/05/disney...reaming-joint-venture-venu-sports-1235918904/

Disney-Fox-WBD Streaming Joint Venture Gets A Name: Venu Sports
By Dade Hayes - Business Editor
May 16, 2024 - 7:33am PDT

The sports streaming joint venture from Disney, Fox and Warner Bros. Discovery finally has a name: Venu Sports.

The company’s name and logo were announced this morning by CEO Pete Distad. The service expects to launch this fall in the U.S., though it faces a legal challenge from pay-TV company Fubo and resistance from some corners of the industry and federal government. The companies first revealed plans for the initiative last February.

While today’s announcement said the service is “on track” for the fall launch, it also noted that its commercial availability hinges on “regulatory approval and the finalization of definitive agreements amongst the parties.”
 
For those interested, here is a look at some Disney specific financial trending charts. My plan is to update after each earnings call, as time permits.

https://clarker99.wixsite.com/discharts

May add some commentary in the future about key points from the earnings calls, 10Q's and media releases in relation to the posted charts topic but we will see.
 
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https://www.cnbc.com/2024/05/16/nba-tv-rights-deal-hinges-on-warner-bros-discovery.html

The NBA is picking its TV partners — and a deal hinges on Warner Bros. Discovery’s next move
Published Thu, May 16 2024 - 3:37 PM EDT
by Alex Sherman

Key Points
  • Warner Bros. Discovery and the NBA continue to have discussions about reaching a new broadcast deal.
  • Warner Bros. Discovery has matching rights if the NBA signs a deal with NBCUniversal for a package of games.
  • If Warner Bros. Discovery matches NBCUniversal’s bid, it’s unclear if the league has full discretion to walk away from the matched offer, sources told CNBC.
The Fate of Venu

Warner Bros. Discovery, Disney and Fox announced Thursday they plan to name their new sports streaming platform Venu, taking inspiration from where live sports are played.

The three companies haven’t formally signed paperwork on the venture yet as they await regulatory approval. If Warner Bros. Discovery loses the NBA, that will diminish the value of the service for consumers, as NBCUniversal and Amazon aren’t partners in the product.
 
For those interested, here is a look at some Disney specific financial trending charts. My plan is to update after each earnings call, as time permits.

https://clarker99.wixsite.com/discharts

May add some commentary in the future about key points from the earnings calls, 10Q's and media releases in relation to the posted charts topic but we will see.
That is great stuff @clarker99 ! Thanks for sharing.
 
https://www.nytimes.com/2024/05/17/business/paramount-sony-apollo-assets.html

Sony and Apollo Take Key Step in Bid for Paramount’s Assets
The two companies have expressed interest in acquiring the media conglomerate, but are backing away from their $26 billion all-cash offer.


By Benjamin Mullin and Lauren Hirsch
May 17, 2024

Sony Pictures Entertainment and Apollo Global Management have taken a significant step forward in their effort to court Paramount, three people familiar with the matter said on Friday.

The two companies have signed nondisclosure agreements with Paramount, allowing them to look at Paramount’s nonpublic financial information, said the people, who spoke on the condition of anonymity to discuss active negotiations. Paramount previously shared materials with another suitor, the Hollywood studio Skydance.

Sony and Apollo are now contemplating a variety of approaches to acquire the company’s assets, but are backing away from their plan to make an all-cash, $26 billion offer for Paramount, two of the people said.
 
https://www.hollywoodreporter.com/m...openig-contributes-to-summer-woes-1235903176/

Box Office: ‘IF’ Contributing to Summer Woes With Projected $31.5M Opening

The John Krasinski-directed original family film — starring Ryan Reynolds — could beat early estimates if traffic surges on Saturday thanks to an A CinemaScore. Elsewhere, Amy Winehouse biopic sings out of tune.

by Pamela McClintock - May 18, 2024 - 9:22am PDT

The summer box office season mostly continues to underwhelm as writer-director John Krasinski‘s original family film IF — starring Ryan Reynolds and featuring an A-list voice cast — is opening well behind prerelease tracking even as it heads for a first-place finish.

After grossing $10.3 million on Friday, the live-action/CGI hybrid is estimating a $31.5 million domestic debut, versus the $40 million start suggested by prerelease tracking. Paramount insiders are hopeful that the forecast will improve on Saturday as parents and kids turn out in force.

Disney and 20th Century Studio’s male-fueled Kingdom of the Planet of the Apes, the only summer event pic so far to exceed expectations, is headed for a second-place finish with $25 million to $26 million as it clears the $100 million mark domestically in its first 10 days

Lionsgate’s latest horror offering, The Strangers: Chapter 1 looks to place third with $12.4 million. That’s a promising start for a movie that had been tracking to open in the $7 million to $9 million range.

Universal’s The Fall Guy — which kicked off the summer box office in muted fashion despite good reviews and a cast led by Ryan Gosling and Emily Blunt — looks to place fourth with $8 million for a domestic total of roughly $69 million through its third Sunday.
 













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