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Walt Disney Co (NYSE:DIS) is experiencing a significant resurgence in 2024, as its latest releases dominate the box office.
The company’s recent hits, including “Inside Out 2” and “Deadpool & Wolverine,” have not only broken records but also solidified Disney’s place at the top of the entertainment industry, CNBC reports.
Recent reports indicated in 2024, Disney reached $3 billion in global ticket sales, becoming the first studio to achieve this milestone with just four nationwide releases: “Deadpool & Wolverine,” “Inside Out 2,” “Kingdom of the Planet of the Apes,” and “The First Omen.”
“Inside Out 2” has become the highest-grossing animated film ever, surpassing $1.5 billion globally. Meanwhile, “Deadpool & Wolverine,” the first R-rated film in the Marvel Cinematic Universe, has set opening weekend records and is on track to exceed $1 billion in revenue before its run concludes.
“Moana 2” is scheduled for release over the Thanksgiving holiday. The sequel to the 2016 hit “Moana,” which garnered nearly $700 million at the global box office, is anticipated to draw even larger audiences this time.
Another highly anticipated Disney release is “Mufasa: The Lion King,” a prequel to the 2019 blockbuster “The Lion King.” The original generated $1.6 billion worldwide.
Disney consistently produces billion-dollar box office hits more than any other studio. Of the 53 films that have crossed this milestone, 27 bear the Disney name, according to CNBC.
Earlier this week, Disney reported fiscal third-quarter 2024 revenue growth of 4% year-on-year to $23.16 billion, beating the consensus estimate of $23.11 billion. Entertainment revenue increased by 4% to $10.58 billion, driven by subscription revenue growth due to price hikes and customer growth for Disney+ Core.
Investors can gain exposure to Disney through SPDR S&P 500 (NYSE:SPY) and Vanguard S&P 500 ETF (NYSE:VOO).
Price Actions: DIS stock is down 0.63% to $85.42 at the last check on Friday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image via Marvel Entertainment
