First Published December 23, 2024, 2:51 PM IST |Last updated December 23, 2024, 2:51 PM IST
Paramount Global’s ($PARA) latest film Sonic the Hedgehog 3 has a strong opening weekend, raking in $62 million in weekend ticket sales and leading the Walt Disney Company ($DIS) It was announced that they had defeated Tan “Mufasa: The Lion King”. Go to Box Office Mojo.
Disney’s prequel grossed just $35 million at the box office, lower than expected. The Lion King prequel was released on 4,100 screens, while Sonic 3 was released on 3,716 screens.
Made for $122 million, “Sonic 3” is on track to surpass the previous two films’ combined collection of $700 million. This is an action-adventure comedy film based on the video game series released by Sega.
The film has received critical acclaim, with an 86% Fresh Score on Rotten Tomatoes and an “A” score on CinemaScore. It is well-positioned to perform well during the busiest movie-going period of the year.
However, Disney’s “Inside Head 2” and “Deadpool & Wolverine” are the year’s biggest grossing films, with worldwide ticket sales of $1.7 billion and $1.34 billion, respectively. Disney may still have the last laugh. That’s “Moana 2,” which was released during Thanksgiving week and has so far collected $790.17 million worldwide.
Paul Dergarabedian, senior media analyst at comScore, said family films such as “Inside Head 2,” “Moana 2” and “Sonic 3” played a big role in this year’s box office recovery. “The box office year was saved by family audiences drawn to multiplexes,” he reportedly said, adding that animated films accounted for 26.5% of this year’s box office receipts. .
Paramount has entered into a merger agreement with Skydance Media, a company founded by David Ellison, son of Oracle founder Larry Ellison. The transaction is expected to close in the first quarter of 2025, subject to regulatory approvals and other customary closing conditions.
On Stocktwits, retail sentiment for Paramount remains “bullish” (61/100), although message volume is “low”.
PARA Sentiment and Message Volume Premarket as of 4:00 AM ET, December 23, 2024 | Source: StockTweets
Meanwhile, sentiment toward Disney is bearish (43/100), worsening from “neutral” the day before, while message volume remains “low.”
DIS Sentiment and Message Volume as of December 23, 2024, 4:00 a.m. ET premarket | Source: StockTweets
Paramount stock is down 26.56% this year, while Disney is up 25%.
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