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Monday, 21 May 2012 - Battleship bomb may hit studio's profits: analysts |
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      Edition: U.S. Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Home Business Business Home Economy Technology Media Small Business Legal Deals Earnings Social Pulse Business Video The Freeland File Markets Markets Home U.S. Markets European Markets Asian Markets Global Market Data Indices M&A Stocks Bonds Currencies Commodities Futures Funds peHUB World World Home U.S. Brazil China Euro Zone Japan Mexico Russia India Insight World Video Reuters Investigates Decoder Politics Politics Home Election 2012 Issues 2012 Candidates 2012 Tales from the Trail Political Punchlines Supreme Court Politics Video Tech Technology Home MediaFile Science Tech Video Tech Tonic Social Pulse Opinion Opinion Home Chrystia Freeland John Lloyd Felix Salmon Jack Shafer David Rohde Bernd Debusmann Nader Mousavizadeh Lucy P. 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See the best of Reuters photography.  See more | Photo caption  Transgendered beauty Transgendered contestant Jenna Talackova takes part in Miss Universe Canada.  Slideshow  Inside Facebook A behind the scenes look at Facebook.  Slideshow  "Battleship" bomb may hit studio's profits: analysts Tweet Share this Email Print Related News 'Avengers' outguns 'Battleship' at box offices 2:13pm EDT "Avengers" may sink "Battleship's" U.S. launch Fri, May 18 2012 'Avengers' rings up $103 million in record weekend Sun, May 13 2012 Cannes film festival puts spotlight on rising stars Fri, May 11 2012 Disney at life-high on profit rise, Avengers success Wed, May 9 2012 Analysis & Opinion Department: Mr Varma, please spare us the trauma Inside Kabul’s theaters Related Topics Entertainment » Fashion » Film » By Ronald Grover and Piya Sinha-Roy Sun May 20, 2012 3:16pm EDT (Reuters) - "Battleship," Universal Picture's big budget science fiction film, is likely to dent the studio's profits after it opened with lower than forecast ticket sales, according to analysts. The film, which Comcast unit Universal has said cost $209 million to produce, generated $23.4 million in ticket sales at theaters in the U.S. and Canada during its opening weekend, according to figures compiled by Hollywood.com. It had been projected by tracking services used by Hollywood studios to have ticket sales of between $35 million and $40 million. The movie, which stars Liam Neeson and the singer Rihanna, finished the weekend second to Walt Disney's superhero blockbuster "The Avengers," which led the box office for the third weekend with $55.1 million in ticket sales. "It is not quite the epic disaster of 'John Carter,' but this will put a dent in Comcast's quarter," said Matthew Harrigan of Wunderlich Securities, who follows Comcast. He did not quantify how much he expected the film to lose. "John Carter," which sold $30.2 million during its opening weekend in March, saddled Disney with a $200 million loss, the company said. That film cost more than $250 million to produce. Based on the "John Carter" performance, Universal will lose $100 million to $200 million, estimates Michael Morris of Davenport & Co., who does not follow Comcast, but follows Disney, News Corp. and Time Warner, which also have studio units. A Universal spokeswoman would not comment. Comcast officials were not immediately available for comment. The studio is estimated to have spent more than $100 million to market the film, standard for large budget films. "Battleship" has sold more than $220 million in overseas tickets, Universal has said. It is forecast to reach $250 million in foreign sales. Movie studios generally receive about half of the revenues from ticket sales in North America and less in foreign markets. The film needed to generate more than $50 million in weekend ticket sales to break even, said analyst Tony Wible, a managing director at Janney Montgomery Scott who compiles a data base on film performances. He does not follow Comcast. Last week, Disney's superhero franchise-builder surprised experts by cutting into the expected weekend ticket sales of "Dark Shadows," starring Johnny Depp, which took in just $29.7 million, according to Box Office Mojo. During the coming weekend, "Battleship," loosely based on the Hasbro board game, will face the third installment of Will Smith's futuristic comedy "Men in Black." The last one in the series, in 2002, generated $190.4 million in domestic ticket sales. (Reporting By Ronald Grover; Editing by Paul Simao) Entertainment Fashion Film Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints   We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.   Edition: U.S. Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Back to top Reuters.com Business Markets World Politics Technology Opinion Money Pictures Videos Site Index Legal Bankruptcy Law California Legal New York Legal Securities Law Support & Contact Support Corrections Connect with Reuters Twitter   Facebook   LinkedIn   RSS   Podcast   Newsletters   Mobile About Privacy Policy Terms of Use AdChoices Copyright Our Flagship financial information platform incorporating Reuters Insider An ultra-low latency infrastructure for electronic trading and data distribution A connected approach to governance, risk and compliance Our next generation legal research platform Our global tax workstation Thomsonreuters.com About Thomson Reuters Investor Relations Careers Contact Us   Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

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