Media And Entertainment
“Black Panther: Wakanda Forever,” the long-awaited superhero sequel from Walt Disney Co.’s Marvel Studios, grossed $180 million in North America and $150 million in overseas markets in its opening weekend, the second-best theatrical debut of 2022 and 13th-highest opening weekend gross of all time.
Based on the Marvel Comics stories set in the fictional African kingdom of Wakanda, the first installation of the “Black Panther” movie grossed $202 million domestically in its opening weekend in 2018 and went on to record over $1.3 billion at the global box office.
The sequel’s performance is a bright spot for the Disney Company, which observed its share price fall 13% after the firm reported weaker-than-expected fourth-quarter financial results, before recovering some ground later in the week. Losses have widened significantly at Disney’s streaming enterprise and the firm cautioned that its goal of achieving profitability for the streaming segment by September 2024 could be derailed if the economy worsens.
The Walt Disney Company is hoping that its theatrical movie business will help it close out the year on a high note, CEO Bob Chapek said last week. After “Black Panther: Wakanda Forever,” the next big-budget action movie is expected to be the Avatar sequel from Disney’s 20th Century Studios, set for a mid-December release.