Heard on the Street: 'Black Widow' has been seen as a success for Disney despite underperformance at the theater, but the reality is more complicated
Marvel’s latest superhero failed to rescue movie theaters from their post-pandemic malaise. How much value the movie ensnared for parent company Walt Disney Co. is also worth questioning.and saw a sharp drop in business during its second weekend in theaters. The film’s domestic box-office take slid 67% from its opening weekend, when it grossed a little over $80 million. Significant second-weekend drops are fairly common, even for massive blockbusters.
The movie’s reception has been bad news for movie theater chains; shares of AMC Entertainment , Cinemark and U.K.-based Cineworld have averaged a drop of 19% since the movie’s release. But for Disney, “Black Widow” has been seen as a success, given that the company also released the picture on its Disney+ streaming service for a $30 surcharge.
As a premium digital offering, “Black Widow” will also be a hard show to repeat. It is the fourth movie Disney has released under its so-called Premier Access program, but it is only the first the company has made any financial disclosure about. The only movie remaining on the company’s schedule for such a dual release is “The Jungle Cruise,” due out July 30. But that is a new property based on a theme park ride.
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