Another great weekend. The top ten films grossed $88.5M over the four-day holiday weekend which was up about 27 percent from last year. The month of September has to be stronger than last year without the Olympics this year. AMC with their high grossing theaters looks to finish the 2nd Quarter strong. When results are released look for an upswing. Thanksgiving and Christmas look great this year too. Anyone think this stock will climb above $15 by next February?
Maybe I am mistaken, but I thought the dilution of common stockholders already took place. It was called the sale of convertible preferred to Apollo. When/if they convert their shares at 7 or 8 to 1 the common stockholders should be prepared for that loud sucking sound.
Box-office business sizzled this summer, setting a new record for the swimsuit season. Pegged at $3.08 billion by the Hollywood Reporter�s Brian Fuson and $2.95 billion by Variety, citing ACNielsenEDI, ticket sales for the Memorial Day-Labor Day timeframe melted last summer�s numbers by 11 percent or more. Summer 1999 previously held the record but was beat by six to eight percent this year.
Even with rising ticket prices, admissions were up, too, to 548.9 million according to THR and 522 million if you ask Variety. That�s eight or 11 percent ahead of last year�s turnstiles but just shy of beating record-holder summer 1999.
The top grosser of the season was DreamWorks� surprise animated hit "Shrek," which earned $206.4 million during the summer months and $263.0 million since its release in May. New Line�s "Rush Hour 2" was second with $199.0 million; Buena Vista�s "Pearl Harbor" third with $196.7 million; Universal�s "Jurassic Park 3" fourth with $175.9 million; and Fox�s "Planet of the Apes" fifth with $173.0 million.
Universal claimed the market-share crown with $513 million and 17.4 percent of the pie, according to Variety�s figures. In addition to the "Jurassic" sequel, sleeper "The Fast and the Furious" and hot property "American Pie 2" also performed well for the studio. Buena Vista came in second with $396 million and 13.4 percent, relying on "The Princess Diaries," another summer sleeper, in addition to "Pearl Harbor." Fox was third with $377 million and 12.8 percent of the market due to the performance of "Dr. Dolittle 2" in addition to its "Apes" remake.