Box Office Disaster: 'Furiosa,' 'Garfield' Fail To Attract Moviegoers, Memorial Day Weekend Hits 3-Decade Low
Portfolio Pulse from Chris Katje
The Memorial Day weekend box office recorded its worst performance in three decades, with new releases 'Furiosa' and 'The Garfield Movie' failing to attract significant audiences. This continues a trend of declining ticket sales, exacerbated by ongoing Hollywood strikes and competition from streaming platforms.
May 28, 2024 | 4:25 pm
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NEGATIVE IMPACT
AMC Entertainment Holdings faces a challenging box office environment with a 36% decline in Memorial Day weekend ticket sales compared to last year.
The significant decline in box office sales during a key holiday weekend suggests a short-term negative impact on AMC's stock, reflecting broader industry challenges.
CONFIDENCE 95
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Cinemark Holdings is also impacted by the 36% decline in Memorial Day weekend box office sales, reflecting ongoing industry struggles.
The decline in box office sales during a major holiday weekend indicates a short-term negative impact on Cinemark's stock, mirroring broader industry difficulties.
CONFIDENCE 95
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
'The Garfield Movie' from Sony Group Corp grossed $31.1 million domestically over the Memorial Day weekend, also underperforming.
The underperformance of 'The Garfield Movie' indicates a potential short-term negative impact on Sony's stock due to lower-than-expected box office revenue.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
'Furiosa: A Mad Max Saga' from Warner Bros. Discovery grossed $32 million domestically over the Memorial Day weekend, falling short of expectations.
The disappointing box office performance of 'Furiosa' suggests potential short-term negative impact on Warner Bros. Discovery's stock due to lower-than-expected revenue from a major release.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
The Walt Disney Company's 'The Little Mermaid' led last year's Memorial Day weekend box office, highlighting a significant year-over-year decline in ticket sales.
While Disney's 'The Little Mermaid' performed well last year, the overall decline in box office sales this year may have a neutral impact on Disney's stock in the short term.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50