Avatar’s first week sales fell short of expectations…Disney shares at lowest level in 2 years and 9 months
After analysis that the film “Avatar: Water Road”‘s first global box office performance was lukewarm than expected, shares of Disney, the “content empire” that produced the film, they fell by 4.8% on the 19th (local time).
Disney closed today at $85.78 on the New York Stock Exchange, down $4.30 from the battlefield, dropping to its lowest level in two years and nine months since March 2020.
Bloomberg reported that Disney’s stock price plummeted after the box office for ‘Avatar 2’ showed a rather disappointing first week of release.
First-week ticket sales of ‘Avatar 2’, which debuted worldwide starting on the 14th in Korea, tallied at US$434.5 million (565 billion won), which was expected to not exceed the 500 million dollars.
However, film market analysts such as Truest Securities predicted that “Avatar 2” would succeed in mobilizing audiences during the year-end holiday season and New Year’s Eve and would be a long-term box office hit.
Disney distribution chief Tony Chambers also said that “Avatar 2” ticket sales for the holiday season will be high, and box office performance should be judged on next year and beyond.
/yunhap news
