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Saturday, Feb 4, 2023

‘Tomorrowland’: Disney Money Loser?

“Tomorrowland, the sci-fi action adventure movie from Walt Disney Co., was the highest grossing film over the Memorial Day weekend, but that may not mean much given the lackluster box office take over the holiday.

The film, starring George Clooney as an inventor living in an alternate modern day reality, brought in an estimated $41.7 million in the four days since its release on Friday.

That amount has raised speculation in the entertainment industry trade press whether the Burbank company will be able to recoup its $180 million to $190 million production budget.

However, Dave Hollis, executive vice president of distribution at Disney, said that the picture should perform well over the next few weeks as it benefits from being the only family picture in theaters as the school year ends.

“It’s going to take more time for word-of-mouth to build,” Hollis told Hollywood trade publication Variety.

Second week holdovers “Pitch Perfect 2” and “Mad Max: Fury Road” were the second and third highest grossers respectively for the four-day period. The a cappella comedy brought in $38.5 million while the fourth installment of the post-apocalyptic car chase franchise came in with $32.1 million.

The holiday weekend results were a marked contrast from last year when “X-Men: Days of Future Passed” grossed more than $110 million over the four-day period.

Shares of Disney closed down 82 cents, or nearly 1 percent, to $109.44 on the New York Stock Exchange.

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