IPFS News Link • Entertainment: Movies
Star Wars smashes US box office record
• Financial TimesThe film grossed $238m in the US, higher than the $208m mark set this year by Universal Studios' Jurassic World, and an additional $279m around the world.
It set records in markets including the UK, Germany, Australia and Russia. Global returns will climb further on January 9 when the film opens in China, the second-largest movie market after the US.
The Force Awakens is the first of six Star Wars films commissioned by Disney, which will use the characters created by George Lucas to drive consumer product sales and visits to its theme parks. Macquarie Securities estimates that The Force Awakens alone could generate $5bn in consumer product sales, with Disney earning $500m-$1bn in royalties.
The Force Awakens could lift total annual US box office returns past $11bn for the first time and power global takings above $40bn, according to Paul Dergarabedian, a senior analyst with Rentrak, which monitors box office performance.
The launch of the first Star Wars film in a decade comes amid concerns about the growth prospects of ESPN, Disney's sports cable network — and the main driver of the company's profits. Rich Greenfield, analyst with BTIG Research, cut his earnings estimates for 2017, warning that ESPN's profitability would "meaningfully underperform investor expectations".



