Disney's Box Office Results Boost Studio Entertainment Unit
Zacks Investment Research | Dec 10, 2018 11:31PM ET
The Walt Disney Company (NYSE:DIS) has hit a milestone at the global box office yet again by touching $7 billion in year-to-date ticket sales.
Disney Animation’s flick Ralph Breaks the Internet reached the zenith of the top 10 weekend domestic box office estimates, pulling the company through the $7 billion mark.
This comes a couple of years after the company had broken the $6.9 billion record set by Comcast’s (NASDAQ:CMCSA) Universal Studios, with a string of top-grossing films like Rogue One, Finding Dory, Captain America and Zootopia.
Marvel’s Avengers: Infinity War, Black Panther and Ant-Man and the Wasp, Pixar’s Incredibles 2 and Lucasfilm’s Solo: A Star Wars Story were among the other revenue pulling films for Disney this year.
Moreover, with Mary Poppins Returns releasing on Dec 19, Disney might outpace the domestic gross of $3 billion and hit another industry record.
Focus on Studio Entertainment
Disney’s Studio Entertainment segment, which produces the animated and live-action motion pictures, direct-to-video programming, musical recordings and live stage plays, is a significant revenue generator.
A part of Disney’s tradition of producing top-grossing animated and superhero films can be attributed to the strategic acquisitions it makes from time to time. It has spent about $15.4 billion in acquiring Pixar, Marvel Comics and Lucasfilm since 2006. These assets have delivered most of the top-grossing films this year.
These acquisitions have proven to be profitable for the company, which has generated $10 billion in revenues only from its Studio Entertainment segment at the end of fiscal 2018, increasing 19% year over year.
The Walt Disney Company Revenue (TTM)
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