Disney’s ($DIS)’S new James Cameron film, Avatar: The Way of Water, debuted this past weekend, bringing in $134 million in the United States. However, the film’s earnings this weekend fell short of the projected $170 million in sales.
That being said, initial international proceeds were strong, with a reported $300.5 million earned. The initially reported total was $434.5 million for the opening weekend.
$IMAX‘s global sales of $48.8 million this month resulted in the biggest December opening of all time and the second-highest-grossing IMAX opening in history – the first Avatar still holds the #1 spot on that list, however.
How much does the Avatar sequel need to break even? According to James Cameron, $2 billion. 👀
Disney’s biggest concern is the Chinese market and how lockdowns may affect movie ticket sales. The Chinese market accounted for over $200 million of the first Avatar film’s $2.74 billion in profits.
So far, the release has not abated the selling pressure for Disney.
Unless something dramatic happens between now and the end of 2022, Disney is on its way to its worst year since 1974. 😱