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For the first time since 2009, the box office doesn't have a Marvel film to kick off the summer movie season — and it shows. This year, the headline film for the first summer weekend was Universal's "The Fall Guy." The result could send the 2024 summer box office down as much as $800 million compared to 2023, according to Comscore's Paul Dergarabedian, and have ripple effects for the whole year. At present, analysts believe the summer movie season will exceed $3 billion in ticket sales, but just barely. Before Covid, the summer box office consistently topped more than $4 billion.
Persons: Guy, Ryan Gosling, Emily Blunt, Eric Handler, Roth MKM, bode, Comscore's Paul Dergarabedian, doesn't Organizations: Labor, Disney Marvel
Star Wars Lego models are seen at the Bricks & Figs museum in Krakow, Poland, on April 15, 2023. A design director at the Denmark-based Lego company, he has spent the past 25 years creating Lego Star Wars sets. Now, Lego Star Wars has become a blueprint for the company's other brand deals — think Harry Potter, Batman and Marvel's Avengers. The Lego Star Wars collaboration came at a time of financial turmoil for Lego. Lego Icons, Lego Technic, Lego City and Lego Harry Potter also performed well.
Persons: Jens Kronvold Frederiksen, Frederiksen, Darth Vader, Harry Potter, Jill Wilfert, Wilfert, It's, Paul Southern, Shirlaine Forrest, " Frederiksen, we're, Southern, We've Organizations: Anadolu, Getty, Star, CNBC, Disney, Epic Games, Lego Star, Lego, Force, Manchester Central, Imperial, Star Wars, Lucasfilm, Walt Disney Company, Lego Star Wars, Warner Bros, Games Locations: Krakow, Poland, Denmark, Lego, Manchester, England
Total memberships rose 16% in the first quarter, reaching 269.6 million, well above the 264.2 million Wall Street had expected. However, the quarter marks one of the last glimpses investors will get of the company's subscriber base going forward. The company posted revenue of $9.37 billion for the quarter, up from $8.16 billion in the year-ago quarter. Netflix could also provide more insight into its partnership with TKO Group Holdings to bring WWE to the platform. As of Thursday morning, the company's stock was up 27% year to date and around 85% over the last 12 months.
Persons: we've, we're, Ted Sarandos, Jake Paul, Mike Tyson Organizations: Netflix, LSEG Revenue, LSEG, TKO, Holdings, WWE
StubHub is eyeing a summer initial public offering, a person familiar with the matter told CNBC. The online ticketing service is aiming for a valuation of at least $16.5 billion, which is what it was valued at in late 2021 during its latest round of private funding. If StubHub does enter the public market, it will trade alongside competitors Vivid Seats and Live Nation . Vivid Seats has a market cap of $1.2 billion and Live Nation is valued at just under $24 billion, according to FactSet. StubHub, JPMorgan and Goldman Sachs all declined to comment about potential timing for an IPO.
Persons: Goldman Sachs, StubHub, Eric Baker, SeatGeek, Taylor Organizations: CNBC, JPMorgan, eBay, Vivid
It had been more than a year since the Covid pandemic had forced Disney's domestic parks to shutter, but D'Amaro, chair of Disney's experiences division, was confident guests would flood back in when the gates reopened. Revenues fell 35% in 2020, a nearly $10 billion decrease from the $26.2 billion the experiences division had tallied in the year before the pandemic. The experiences division posted record revenue of $32.5 billion in fiscal 2023, a 16% increase from the prior year. Its innovations, from ride mechanics and animatronics to creature design and immersive architecture, have made Disney's parks a standout in the industry. Storytelling is at the heart of everything across Disney's experiences division.
Persons: Mickey Mouse, Ian Langsdon, Josh D'Amaro, D'Amaro, Bob Chapek, D'Amaro —, Walt Disney, King Arthur Carousel, Christian Thompson, you've, it's, Bob Iger, Nelson, Walt Disney Imagineering, Rey, Kylo Ren, Judy Hopps, Imagineers, CNBC —, Lewis, Disney, Imagineering, Matt Stroshane, Alan Bergman Organizations: Paris, Afp, Getty, Gibson, Disney, Walt Disney Imagineering, Hong Kong Disneyland, Walt Disney, Guardians, Magic Kingdom, Epcot, Star Wars, California Disneyland's, Walt Disney Imagineering's, Disney Engineers, Force, Southwest, CNBC, Galactic, Marvel Locations: California, Burbank, Disneyland, Hong Kong, Shanghai Disneyland, Florida, Epcot, Magic, Wharf, Disneyland's, Disney's, Edge
The Mandalorian and the Child (Grogu) on Disney+'s "The Mandalorian." The Walt Disney Company on Friday revealed its new theatrical schedule, which will feature a film about the Mandalorian and Grogu, a fifth "Toy Story" film, and another "Tron" flick before the end of 2026. The company's theatrical business has struggled in the wake of pandemic shutdowns and dual Hollywood labor strikes, as productions stalled and moviegoers' box-office habits shifted. Disney teased that one of its 2026 Star Wars films would feature the iconic duo from its Disney+ series "The Mandalorian" and revealed its title will be "The Mandalorian & Grogu." A fifth "Toy Story" film is set to hit theaters on June 19, 2026, and "Tron: Ares" is slated for Oct. 10, 2025.
Persons: Disney, Bob Iger, He's, Iger, Oscar, Rami Malek, Amy Adams Organizations: Disney, Walt Disney Company, Marvel
Iger noted that the activism has not changed Disney's succession process. Chapek held the post for more than two years before Iger returned to it. "Obviously, we all learn from the past, and we're prepared for this process to be successful," Iger said. In an interview with CNBC on Thursday, Peltz said he did not have any personal vendetta against Iger but wanted to ensure the company had a leadership plan in place. "The only issue I had with Bob was the succession plan, which again is at the feet of the board," he said.
Persons: Nelson Peltz's, Bob Iger, Iger, Bob Chapek, Chapek, we're, Peltz, Bob Organizations: Disney, CNBC
That would mark a milestone for the company, which launched Disney+ on Nov. 12, 2019. It would be the first time Disney showed it can make money from Disney+, Hulu and ESPN+. Disney will need to sustain and grow streaming profit to justify Iger's five-year-old strategy to go "all in" on the segment. Disney has already offered ESPN+, a sports streaming service that has some but not all of ESPN's content. Trian Partners' Nelson Peltz, who failed to join Disney's board Wednesday after securing just 31% of the vote, publicly questioned what he has called Disney's "woke" content strategy.
Persons: Bob Iger, Sun Valley , Idaho David A, Iger, Disney, they've, Cowen, Doug Creutz, Needham, Laura Martin, Gabby Jones, David Greenbaum, Sean Bailey, Alan Bergman, Indiana Jones, Nelson Peltz, Peltz, shouldn't, Bob Chapek, He'll, Bergman, Jimmy Pitaro, Josh D'Amaro, Dana Walden, They've, Cowen's, you've, That's, it's, — CNBC's Sarah Whitten, Needman's Martin Organizations: Disney, Allen & Company Sun Valley Conference, Grogan, CNBC Disney, Disney Disney, Hulu, ESPN, Co, Warner Bros . Discovery, Fox, CNBC, Athletic, Bloomberg, Getty, Marvel, Star Wars, Searchlight, Walt Disney Motion, Disney Entertainment, Century Fox, Sony, Disney's Marvel Studios, Trian Partners, Financial Times, Resorts, Iger Locations: Sun Valley , Idaho, Brooklyn , New York, Iger, Parks, Disney
DisneyDisney has struggled to return to the lofty box office records of 2019 — and that may have helped open the door for its recent troubles with activist Nelson Peltz. Just four years ago, the studio had seven billion-dollar films, which contributed to a global box office haul of more than $13.2 billion. Sony produced and distributed "Spider-Man: No Way Home," which made $1.9 billion, although Disney's Marvel Studios did serve as a co-producer. "People go to watch a movie or a show to be entertained," Peltz said in recent interview with The Financial Times. Peltz has also taken particular issue with Disney's failed succession plans and what he's described as a disjointed streaming strategy.
Persons: Harrison Ford, Indiana Jones, Nelson Peltz, Disney's, Strange, Peltz, Jay Rasulo, he's, Marvel, Ike Perlmutter Organizations: Disney Disney, Disney, Century Fox, Star, Sony, Disney's Marvel Studios, Guardians, Galaxy, Trian Fund Management, Financial Times, Marvel, U.S . Air Force, Financial, Marvel Entertainment Locations: U.S
Why streamers are shrinking their content libraries
  + stars: | 2024-04-02 | by ( Sarah Whitten | ) www.cnbc.com   time to read: +6 min
Last year many streaming services began shrinking their once-robust content libraries in order to pay smaller licensing fees. In the face of profit pressures and growing competition for viewers, streamers have taken to removing content to avoid the residual payments and licensing fees. On one side is Netflix , Amazon and Apple — companies that agnostically license content from other studios to bolster their streaming libraries. Disney-owned Hulu, meanwhile, has seen success with "feel good" 30-minute sitcoms and prestige dramas, Fandom's data shows. Disclosure: Peacock is the streaming service of NBCUniversal, the parent company of CNBC.
Persons: Stephanie Fried, Fried, Hey Arnold, Bell, Severance, Jacob, Jack Ryan, Bel, Universal's, Max, Peacock Organizations: NBC, Netflix, Apple, Universal, Warner Bros . Discovery, Paramount, Hollywood, Nickelodeon, Warner Bros, Disney, Amazon Prime, Hulu, HBO, CNBC Locations: auctioning, Kingstown, NBCUniversal
NBC announced Friday that its live coverage of the 2024 Paris Olympics opening ceremony on July 26 will play on more than 150 IMAX screens in the U.S. The Summer Olympics opening ceremony will be the first not held in a stadium. Special, limited-time programming such as the Summer Olympics coverage could drive moviegoers to IMAX. Disclosure: CNBC parent NBCUniversal owns NBC Sports and NBC Olympics. NBC Olympics is the U.S. broadcast rights holder to all Summer and Winter Games through 2032.
Persons: Gary Zenkel, Eric Wold, Riley ., Wold, Richard Gelfond Organizations: Paris, Paralympic Games, NBC, U.S, The, Warner Bros, CNBC, NBCUniversal, NBC Sports, NBC Olympics, Games Locations: Paris, France, U.S
The Lego company grew sales 2% last year, even as the global toy industry saw sales slip 7%, according to data from Circana. The pandemic-era gains that fueled exponential toy industry sales growth waned in 2023 as consumers cut discretionary spending amid rising inflationary costs and increased credit card debt. Meanwhile Denmark-based Lego posted resilient sales, with revenue reaching 65.9 billion Danish krone, or about $9.65 billion, it said Tuesday. The company saw sales jump 27% in 2021 and 17% in 2022. The toymaker's top-performing brands last year included Lego Icons, Lego Technic, Lego City, Lego Harry Potter and Lego Star Wars.
Persons: Niels Christiansen, Harry Potter, Christiansen, Lego, We're Organizations: CNBC, Lego, Lego Star, Epic Games Locations: Denmark, Lego City, China
An Oscar statue is seen as preparations continue for the 96th Academy Awards in Los Angeles, California, U.S., March 9, 2024. As Jimmy Kimmel is set to host the 96th annual Academy Awards at the Dolby Theatre in Los Angeles, all eyes are on Universal's "Oppenheimer." The film dominated nominations for major categories, showing up in the fields for best picture, best director, best actor, best supporting actor, best supporting actress and best cinematography. The best actress category is expected to be much tighter. Lily Gladstone ("Killers of the Flower Moon") and Emma Stone ("Poor Things") have traded wins throughout this year's award season.
Persons: It's, Jimmy Kimmel, Oppenheimer, Da'Vine Joy Randolph, Alexander Payne's, Cillian Murphy, Robert Downey Jr, Lily Gladstone, Emma Stone, Gladstone, Oscar Organizations: Dolby Theatre, Warner Bros, Globe, BAFTA, ABC, Comcast, CNBC Locations: Los Angeles , California, U.S, Los Angeles, Vietnam, NBCUniversal
This is especially important for the company's Fisher-Price and American Girl brands, which have been in the midst of their own transformations for several years. In just the last year, net global sales for American Girl were down 9%. When it comes to to the American Girl brand, Kreiz admits that the challenges "were not product driven," but rather an issue with its commercial strategy. American Girl doll by Mattel Source: Mattel"We think there's some real opportunities to continue to grow the brand and extend the story that exists within American Girl thoughtfully, and we want to do it authentically," said Silverman. Mattel executives remained tightlipped about what to expect from an upcoming American Girl movie, which currently does not have a release date.
Persons: Barbie, Ynon Kreiz, Fisher, Price, Kreiz, He's, Greta Gerwig, Josh Silverman, Margot Robbie, It's, company's Fisher, Capital, Mattel, Silverman, Lisa McKnight Organizations: Warner Bros, Mattel, Barington Capital, American Girl, CNBC, Sinfonietta, Sunday's, American, Fisher, Disney, Paramount Locations: American
Emma Mcintyre | Getty ImagesWhen Paul Scanlan and Jeff Annison first dreamed up their production studio, Legion M, they set out to build not just a company, but a community. While crowdfunding is not a new concept, Legion M is taking it to the next level — giving ordinary moviegoers a seat at Hollywood's table. That's what sets Legion M apart. For Legion M's "My Dead Friend Zoe," the company collected funds from Legion M investors and from larger, more traditional Hollywood financiers, including Kansas City Chiefs star tight end Travis Kelce. He said working with Legion M "felt very natural from the first call."
Persons: William Shatner, Emma Mcintyre, Paul Scanlan, Jeff Annison, Jay, Bob, Anne Hathaway, Jason Sudeikis, Simon Pegg, Minnie Driver, Nandor Fodor, Zach Braff's, Rob Thomas, Veronica Mars, Annison, Zoe, Travis Kelce, Chris Temple, Glauber Contessoto, Zach Ingrasci, Erik Tanner, Frazer Harrison Organizations: Legion, San Diego, Theatre, Business, Amazon Prime, Kansas City Chiefs, Spring Studio, Getty, Angel Studios, Con, Paramount Theater Locations: San Diego , California, Hollywood, New York City, Austin , Texas
After a two-month drought, "Dune: Part Two" has delivered a much-welcomed deluge of ticket sales to the domestic box office — and its success could bring a third franchise film to cinemas. The Warner Bros. and Legendary Entertainment film opened with an estimated $81.5 million at the box office, the highest of any film released so far in 2024. Denis Villeneuve's sci-fi epic, the second in the Dune franchise, was buoyed by IMAX ticket sales, which represented around 23% of domestic ticket sales, or $18.5 million. "The only reason it wasn't higher is we ran out of seats," said Rich Gelfond, CEO of IMAX. IMAX represented 18% of all international ticket sales, the company said.
Persons: Shawn Robbins, Denis Villeneuve's, Rich Gelfond, Gelfond, Oppenheimer, Josh Grode, Denis, Villeneuve, we've Organizations: Warner Bros, Entertainment, BoxOffice.com, Legendary Entertainment, CNBC Locations: Hollywood, China
Since the start of the year, the domestic box office has tallied just $866.4 million in ticket sales through Sunday, a nearly 18% drop from the same period in 2023, according to data from Comscore. A boost at the beginning of the year could prove critical to a box office that's still struggling to reclaim $10 billion in domestic annual ticket sales, a mark last seen before the Covid pandemic. While surprise hits like Sony's "Anyone But You" alongside Paramount's "Mean Girls" and "Bob Marley: One Love" have helped fill cinemas, the box office had few blockbuster holdovers from the holidays and limited new offerings in the new year. Last year, the first quarter was buoyed by $263 million in ticket sales from Disney's "Avatar: The Way of Water," which hit theaters in December of the previous year. Similarly, 2022 had more than $200 million in residual sales from Sony and Marvel's 2021 hit "Spider-Man: No Way Home."
Persons: Warner, Paul Dergarabedian, Bob Marley, Bill Barstow Organizations: ANGELES, Warner Bros, Sony Locations: Comscore
A sleeper hit at the box office, the film is a "healthy sign" for the romantic comedy genre and other mid-budget Hollywood flicks, said Scott Meslow, author of "From Hollywood With Love: The Rise and Fall (and Rise Again) of the Romantic Comedy." In the seven weeks since, the romantic comedy has tallied $170 million globally, including $80 million from domestic theaters, according to data from Comscore. Between 2004 and 2010, Hollywood consistently released between 15 and 25 romantic comedy or romance films each year. Meslow said there was no rom-com "kill shot," a film or series of films that sparked the decline in theatrical releases of the genre. While some films will still be released only on streaming platforms, Hollywood has rediscovered the importance of theatrical as part of overall downstream revenue.
Persons: Christopher Nolan's, Scott Meslow, Glen Powell, Sydney Sweeney, Meslow, Will Gluck, Gluck, Natasha Bedingfield's, it's Organizations: DC Studios, Hollywood, CNBC, Netflix, Sony, Comcast Locations: Hollywood, NBCUniversal
Super Bowl LVIII was the most-watched television show in history, as an estimated 123.4 million people watched the Kansas City Chiefs rally in overtime to defeat the San Francisco 49ers. CBS Sports said that figure included viewers across all platforms and was up 7% from last year's 115.1 million average viewers, which was also the previous record. This year's game was the most-streamed Super Bowl in history with a record audience on Paramount+ , the network said. It added that the network saw its best postseason viewership since 1998. Live sports has showed strength even as TV viewership has fragmented and moved to streaming platforms.
Persons: Usher, Christopher Walken, Ben Affleck, Matt Damon, Tom Brady, Quinta Brunson, Jenna Ortega, Kate McKinnon, Jennifer Aniston, Discovery Organizations: Kansas City Chiefs, San Francisco 49ers, CBS Sports, Paramount, National Football League, Super, NFL, Chiefs, Baltimore Ravens, AFC Championship, ESPN, Fox, Warner Bros Locations: Beyoncé
A general view of Super Bowl signage displayed in the NFL Super Bowl Experience ahead of Super Bowl LVIII on February 06, 2024 in Las Vegas, Nevada. Super Bowl 58 kicks off at 6:30 p.m. The Super Bowl is advertising's biggest stage, with companies jockeying for a limited supply of spots to get their products in front of millions of consumers. Even as linear ad revenue slips, companies know there's no opportunity guaranteed to reach more people than the Super Bowl. — Amelia Lucas, Michael Wayland, Micah Washington, Gabrielle Fonrouge, Lorie Konish, Drew Richardson and Jordan Novet contributed to CNBC's Super Bowl coverage.
Persons: Bob Iger, Jason Momoa, Quinta Brunson, Jenna Ortega, Tina Fey, Kate McKinnon, Pete Davidson, Addison Rae, Usher, — Amelia Lucas, Michael Wayland, Micah Washington, Gabrielle Fonrouge, Lorie Konish, Drew Richardson, Jordan Novet Organizations: NFL, Super, AFC, Kansas City Chiefs, NFC, San Francisco 49ers, Disney, CBS Locations: Las Vegas , Nevada, Las Vegas, U.S
LOS ANGELES — The Walt Disney Company will report fiscal first-quarter results after the bell Wednesday as its board battles again with activist investor Nelson Peltz and Blackwells Capital. The media behemoth will also post earnings a day after it announced its sports network ESPN would partner with Fox and Warner Bros. Disney stock has climbed nearly 9% this year. Entertainment contains all of Disney's streaming and media operations, sports includes ESPN and experiences includes the company's theme parks, hotels, cruise line and merchandising efforts. Tune in: CNBC's Julia Boorstin is set to interview Disney CEO Bob Iger at 4:05 p.m.
Persons: Nelson Peltz, Peltz, Jay Rasulo, Bob Iger, Julia Boorstin Organizations: ANGELES, Walt Disney Company, Blackwells, ESPN, Fox, Warner Bros, Netflix, Disney, Star, Entertainment
Taylor Swift's filmed Eras Tour has found a home on Disney+. The concert film will arrive on the platform on March 15, Disney CEO Bob Iger announced during the company's earnings call Wednesday. Disney likely faced a bidding war for the pop star's latest filmed concert, following the blowout popularity of her tour. In total, Swift's film generated more than $180 million at the domestic box office and more than $261.6 million worldwide. The concert film shifted to on-demand availability on Dec. 13, the singer's 34th birthday, with a rental fee of $19.89, the year she was born.
Persons: Taylor Swift, , Taylor Swift's, Bob Iger, Swift, Michael Jackson's Organizations: Soldier, Disney, Apple Music, Netflix, AMC, Swift, CNBC PRO Locations: Chicago, Cardigan
Disney is investing $1.5 billion for a stake in Epic Games, CEO Bob Iger said Wednesday, in its biggest bet yet on the gaming space. "Our exciting new relationship with Epic Games will bring together Disney's beloved brands and franchises with the hugely popular Fortnite in a transformational new games and entertainment universe," said Iger in a statement. Disney did not say what the valuation of Epic, a private company, would be after the Disney funding. "Now we're collaborating on something entirely new to build a persistent, open and interoperable ecosystem that will bring together the Disney and Fortnite communities." Aside from Fortnite, Epic Games is well-known for challenging Apple and Google in court to force them to lower their app store fees.
Persons: Bob Iger, Disney, Iger, Fortnite, Tim Sweeney, Sweeney, Kif Leswing Organizations: Disney, Epic Games, Pixar, Marvel, Star Wars, Star, Lego, Harmonix, Apple, Google, CNBC PRO Locations: Fortnite
On Wednesday, Disney CEO Bob Iger revealed that the untitled Disney Animation film slated for Thanksgiving is a sequel to the beloved 2016 film "Moana." Disney's animation studios — Walt Disney Animation and Pixar — have struggled at the box office in the wake of the Covid-19 pandemic. The decision trained parents to seek out new Disney titles on streaming, not theaters, even when Disney opted to return its films to the big screen. As a result, no Disney animated feature from Pixar or Walt Disney Animation has generated more than $480 million at the global box office since 2019. A sequel to "Moana" will arrive about six months after the theatrical release of "Inside Out 2," a sequel to the hit 2015 animated film about what really goes on inside a person's head.
Persons: Bob Iger, Iger, Pixar — Organizations: Disney, Walt Disney Animation, Pixar, CNBC PRO Locations: Polynesia
While 2024 and 2025 boast franchise-rich movie slates, Wall Street doesn't expect ticket sales to top $10 billion domestically until 2026. The domestic box office has not hit that benchmark since 2019 before the Covid pandemic. When the box office does again surpass that threshold, Disney could be the driving force. After all, the first Avatar generated nearly $800 million at the domestic box office after its release in 2009. Therefore, where industry experts see gaps between major tent poles, there could be smaller-budgeted films that add incremental value to the overall box office.
Persons: it'll, Eric Handler, Roth, snared, Handler, Shawn Robbins, Robbins, Bob Iger, It's, Jonathan Majors, Taylor, it's Organizations: ANGELES, Star Wars, Disney, Marvel, Pixar, Disney Animation, Universal, Paramount, Warner Bros, Hollywood, Angel, AMC, Comcast, CNBC Locations: U.S, Canada, NBCUniversal
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