This year it seems that Disney has it all figured out as its new animation film Frozen 2 has become the highest ever grossing film at the box office during Thanksgiving weekend. The ticket sales have reached about $124 million in the United States and $249 million worldwide as sources indicate. This, of course, brings the total amassed by the movie to about $738 Million.
This, of course, means that Olaf the Snowman, Princess Anna, and Queen Elsa will bring in another billion-dollar movie to Disney which has another potential billion-dollar franchise it could exploit for a profit. This comes after the entertainment giant has had a seemingly successful year with its Avengers franchise, the launch of Disney+ among others as well.
Other releases from other studios didn’t do as well but still received attention at the box office. Lions Gate released “Knivesout”, a murder mystery that brought in about $41.7 million starring Daniel Craig and Chris Evans with “Queen and Slim” which came in from Universal and that fetched $15.8 million starring Daniel Kaluuya and Jodie Turner-Smith.
The box office of late has hit the blues lately as sources further indicate that the North American box office itself is down 7% and that even the strong showings indicate that the market drawdown of 5.6% and apathy comes as a result of increased offerings by media aggregation services. Media aggregators are taking center stage as Disney launched its new Disney+ streaming service giving Netflix a run for its money in the process.
Netflix has been the market maker in the streaming industry for quite a bit now and with the rise of new competitors (NBCUniversal’s Peacock and Disney+ being the leading contenders come 2020). However, it is Disney+’s recent statistics that give the consideration that the new streaming service might upend Netflix for the top spot in a streaming market that is seeing new entrants at a faster rate than ever before ( Amazon Prime Video, Apple TV, Disney’s Hulu and WarnerMedia’s HBO Prime are all a case in point).
Sources already indicate that in just over twenty-four hours after launch, Disney+ already had about 10 million subscribers which of course means that the technical glitches experienced at the launch did little to deter subscribers and fans from going for the service. In some quarters, pundits have indicated that Disney+ is already reportedly gaining about 1 million subscribers per day making it easily the fastest-growing streaming service in history.
While some think that this is a carry-over from the success of Disney’s Marvel Cinematic Universe and Disney Studio itself, it may just be that the various offerings and incentives coupled with wholesome content that everyone can enjoy have put Disney in the driver’s seat for the top spot of all-round entertainer.
So, while the box office may have a hard time trying to adjust to the entrance of media aggregation streaming platforms, Disney gets the best of both World’s as it has the content and the clout to get more content as well as a library that will keep Disney+ and the other platforms within its cachet entertaining people for quite some time. Something that Netflix doesn’t have as of yet.
The current situation in the market is the following. As at the time of writing this report Disney (DIS) prices stood at $151.62 which is a 0.0066% gain in the past twenty-four hours while Netflix (NFLX) share prices stood at $310.55 which indicates a -1.37% drop in the past twenty-four hours.
But if we compare these figures with last December we will see a huge difference. Disney stock was trading ay around $115. However, the value of Netflix stock was close to the current one. It was $290.
Christopher Haruna Hamman is a Freelance content developer, Crypto-Enthusiast and tech-savvy individual. He is also a Superstar Content Developer, Strategy Demigod, and Standup Guy.