Here’s How Top Movies are Boosting Studio Revenues
Studios are profiting from some of the most popular films being released. For instance, Paramount is seeing huge benefits from its decision to push “G.I. Joe Retaliation” back for an Easter release. United States ticket sales netted the studio about $51.7 million through Sunday. With the 3D ticket sales, the studio earned another $80.3 million in overseas sales.
As a result of that opening, Paramount studios (NYSE:VIAB) has already started production plans for a third G.I. Joe movie. It is not surprising considering this movie was the second best Easter opening for a film behind “The Clash of the Titans.”
Other movies have also done very well at the box office recently. The Variety reports that the domestic box office is doing about as well as it did this time last year, which is not bad considering “Hunger Games” came out around this time last year.
Part of the reason domestic sales have been good is “The Croods” from Fox-DreamWorks Animations (NASDAQ:NWSA)(NASDAQ:DWA). The cartoon made $88.6 million in domestic sales in ten days. The Tyler Perry film “Temptation” from Lionsgate (NYSE:LGF) also overperformed, bringing in approximately $23 million. The Stephanie Meyler film “The Host” did not do as well though, only bringing in about $11 million.
Some new films at the specialty box office also did pretty well. “The Place Beyond the Pines” as it averaged about $67,000 from four locations. The film, which starred Ryan Gosling and Bradley Cooper, grossed about $270,184. Focus Features had acquired the rights to the film last year.
The studios are doing fairly well with the films they have released this spring. Paramount intends to capitalize on this success with yet another G.I. Joe film, and undoubtedly other studios will also try to emulate their success in the future.