Lionsgate, Sony Record Box Offices Portend Robust Home Entertainment Business18 Nov, 2012 By: Erik Gruenwedel
Studios set 2012 theatrical ticket sale records
The opening weekend theatrical success of The Twilight Saga: Breaking Dawn — Part 2 coupled with the follow-up of Skyfall helped Lionsgate and Sony Pictures achieve separate 2012 revenue milestones.
The estimated $141.3 million gross for the final Twilight installment of the popular teen vampire franchise contributed to Lionsgate surpassing $1 billion at the domestic box office for the first time in its history.
The Santa Monica, Calif.-based minimajor’s dream year (with the Summit Entertainment acquisition) includes The Hunger Games, with more than $408 million in ticket sales, The Expendables 2 ($85 million); Tyler Perry’s Madea’s Witness Protection ($65 million); The Possession ($49.1 million); Sinister ($47.4 million); The Cabin in the Woods and What to Expect When You’re Expecting ($82 million combined); Tyler Perry’s Good Deeds ($35 million); One for the Money ($26.4 million); Step Up: Revolution ($35 million); Alex Cross ($25.2 million); and Man On a Ledge ($18.6 million).
Lionsgate traditionally over-indexes the industry in box office to home entertainment conversion revenue. The studio earlier this month said the box office to disc conversion rate for Hunger Games would rival the rate for The Twilight Saga: Breaking Dawn — Part 1 and Disney/Marvel’s The Avengers. More than 40% of Games’ disc sales have been Blu-ray — data that suggests robust packaged media and digital revenue when Breaking Dawn — Part 2 is released at retail in 2013.
“We have high expectations [for Hunger Games] through the holiday season starting with a Black Friday promotion through the end of the year,” Steve Beeks, president of the motion picture group and home entertainment, said earlier this month.
Lionsgate CEO Jon Feltheimer said the theatrical slate should remain strong going forward with the next three installments of Hunger Games and new movie franchises "Ender's Game" and "Divergent," among others.
"The strength of our theatrical slate, both domestically and internationally, reflects the critical mass we've built throughout all of our businesses," Feltheimer said in a statement with vice chairman Michael Burns. "Every member of our motion picture group should take tremendous pride in this singular accomplishment."
Meanwhile, Sony Pictures, following strong second-weekend ticket sales for the latest James Bond installment, topped $4 billion in global box office for the first time in the studio’s history.
Contributing titles included The Amazing Spider-Man ($754 million), Men in Black 3 ($624 million) and Hotel Transylvania ($270 million), in addition to Resident Evil: Retribution ($221.8 million), The Vow ($196 million), 21 Jump Street ($201 million), and Underworld: Awakening ($160.1 million), among others.
“Exceeding $4 billion globally is a true rarity in this industry and it’s an extraordinary accomplishment for all of us at Sony Pictures,” Jeff Blake, chairman of worldwide marketing and distribution at Sony Pictures, said in a statement.