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Saturday, 24 October 2009 - Sony looks for box office hit with This Is It | Entertainment |
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    Read more with google mobile : Sony looks for box office hit with This Is It | Entertainment |

    My Profile    Top News Reuters top ten news stories delivered to your inbox each day. Subscribe You are here: Home > News > Entertainment > Article Home Business & Finance News U.S. Politics International Technology Entertainment Film Music People Television Arts Industry Sports Lifestyle Oddly Enough Health Science Special Coverage Video Pictures Your View The Great Debate Blogs Weather Reader Feedback Do More With Reuters RSS Widgets Mobile Podcasts Newsletters Your View Make Reuters My Homepage Partner Services CareerBuilder Affiliate Network Professional Products Support (Customer Zone) Reuters Media Financial Products About Thomson Reuters Sony looks for box office hit with "This Is It" Fri Oct 23, 2009 5:40pm EDT   Email | Print | Share | Reprints | Single Page [-] Text [+] By Alex Dobuzinskis LOS ANGELES (Reuters) - Heading toward its October 28 release, Michael Jackson movie "This Is It" looks like a box office winner for Sony's Columbia Pictures movie studio with one estimate saying it could make more than $600 million worldwide in a limited two-week run. Jackson's many fans are hungry for one last chance to see their idol sing and dance on screen, and the film's makers promise an image of him that is more like the pop star who ruled the charts in the 1980s, and less like the frail paparazzi target he seemed in recent years. Industry watchers say the unique nature of "This Is It" -- part documentary and part concert film starring a legend who is no longer living -- make it difficult to judge how successful it will be for Sony Corp unit Columbia Pictures because there are few, if any, comparisons to it. Based on the $60 million Columbia paid to release the film, plus marketing costs, and taking into account distribution fees it will earn, industry insiders predict the film needs to make just over $100 million at worldwide box offices to profit. Some experts said "This Is It," which opens on Wednesday in more than 3,400 theaters in the United States and Canada, could make $40 million in those domestic markets during its first five days, but that is at the low end of estimates. A rival studio executive who asked to remain anonymous said over its two-week run the film could make $660 million globally -- $260 million domestic and $400 million internationally. "This is a big win for Sony," said Paul Dergarabedian, president of tracking firm Hollywood.Com's box office division. "The fact that (Columbia) was able to put this kind of a deal together quickly, and that they were able to obtain the rights, speaks volumes about their ability to get things done." Columbia has said the movie will be extended beyond its two-week run if ticket demand is high, and it plans to release the DVD for the movie in early 2010. SONY'S BOTTOM LINE Still, for parent company Sony, whose annual revenues total $79 billion from a range of businesses including most prominently consumer electronics, any one movie will rarely have a huge impact on the corporate bottom line, experts said. "I'd say it's likely to be a big success, but Sony is so huge I don't believe it matters much beyond a quarter," said industry analyst Harold Vogel of Vogel Capital Management. "This Is It" is mostly composed of video footage of Jackson rehearsing for a series of concerts in the weeks before his unexpected June 25 death from an overdose of powerful drugs. In the following weeks, his fans paid tribute at gatherings from London to Tokyo and at a Jackson family memorial service in Los Angeles attended by about 18,000 people. Fans lined up for tickets to the movie when they went on sale in Bangkok, Munich and elsewhere, and many early screenings sold out fast. Still, there remains some uncertainty about the box office because sales of Jackson-related products have shown mixed results since his death. His music has seen a resurgence in popularity with Nielsen SoundScan reporting more than 5.5 million in physical album sales for the "Thriller" singer and the equivalent of more than 900,000 in online album sales.  Continued... View article on single page   Share: Del.icio.us Digg Mixx Yahoo! 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Editor's Choice Slideshow  A selection of our best photos from the past 24 hours.  Slideshow  Most Popular on Reuters Articles Video Mom admits to "Balloon Boy" hoax: court record Modern man a wimp says anthropologist UPDATE 2-New US bill on "too big to fail" fix seen Monday Nokia could seek up to $1 billion for iPhones: analysts  |  Video Soros says taxpayers right to resent bank bonuses Laying on bets at America's biggest pension fund  |  Video McCain Moves to Block FCC Net Neutrality Sicilian prefers prison to house arrest with wife More evacuations as Puerto Rico oil blaze burns on UPDATE 1-Canadian health officials discount vaccine "myths" Most Popular Articles RSS Feed Video  Inventors go wacky with greentech Obama mulls Afghan war strategy Japan's H1N1 flu simulator Controversial mummies Field narrows in X-Prize race Jackson an immortal earner Flight overshoots by 150 miles Queen guitarist celebrates 3D photos Striking Italians converge on Rome Bernanke presses for reforms Most Popular Videos RSS Feed Reuters.com:  Help and Contact Us  |  Advertise With Us  |  Mobile  |  Newsletters  |  RSS  |  Labs  |  Journalism Handbook  |  Archive  |  Site Index  |  Video Index Thomson Reuters Corporate:  Copyright  |  Disclaimer  |  Privacy  |  Professional Products  |  Professional Products Support  |  About Thomson Reuters  |  Careers   International Editions: Africa  |  Arabic  |  Argentina  |  Brazil  |  Canada  |  China  |  France  |  Germany  |  India  |  Italy  |  Japan  |  Latin America  |  Mexico  |  Russia  |  Spain  |  United Kingdom  |  United States   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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