NordenBladet – Warner Bros. “Barbie” ( WBD ) and Universal’s “Oppenheimer” ( CMCSA ) led to record box office and stock gains. Together, the films earned over $235 million at the domestic box office, surpassing expectations and making it the fourth-biggest overall weekend in box office history. “Barbie” led the way with $155 million, becoming the top opener of 2023, while “Oppenheimer” contributed $80.5 million to the total.
“Barbie,” directed by Greta Gerwig and supported by Mattel and Warner Bros., also performed well in international markets, collecting an additional $182 million from 69 countries, bringing its global earnings to $337 million. “Oppenheimer” added $93.7 million from 78 international territories, resulting in a global haul of $174.2 million.
Chart: Mattel, Inc last month trading chart in US Dollars, extract from July 24, 2023 closing price. (Source Yahoo Finance)
The positive box office performance had a notable impact on the stock market, with Mattel’s shares rising approximately 1.5% and Comcast, the parent company of Universal, experiencing a 1% increase. Warner Bros. Discovery stock initially rose in premarket but dropped about 2% at the open.
The success of these movies also benefited theater chains, with AMC reporting over 7.8 million moviegoers attending its theaters during the weekend. AMC saw the best single-day attendance since July 2019 on Saturday, and its food and beverage revenue reached its second-highest daily total ever. Cinemark similarly had a successful weekend and expects it to be its best summer weekend ever in terms of box office revenue.
Mattel, Inc., the company behind the “Barbie” brand, saw its stock rise due to the movie’s success. Mattel is a global producer of toys and consumer products, offering a wide range of products under various brands, including Barbie, Hot Wheels, Fisher-Price, and others. The company sells its products through various channels, including its website, retail stores, and wholesalers.
Overall, the box office success of “Barbie” and “Oppenheimer” brought positive momentum to the entertainment industry and boosted investor confidence in the respective studios and associated companies.
Source: NordenBladet.ee