Lion King' Roars to Blockbuster Status
July 21 2019 - 2:36PM
Dow Jones News
By Erich Schwartzel
LOS ANGELES -- "The Lion King" became Walt Disney Co.'s fifth
blockbuster of 2019 over the weekend, with the digital remake
grossing an eye-popping $185 million at the domestic box
office.
International markets added $269 million to the total. The
movie, which opened early in China, has collected $531 million so
far.
"The Lion King" appears poised to become the most successful yet
of Disney remakes of older animated titles. It opened about $10
million higher than 2017's "Beauty and the Beast," which went on to
gross $504 million domestically and $760 million overseas.
Disney is commanding the box office in a way unprecedented in
modern Hollywood history. In 2019 alone, it has released the hits
"Captain Marvel," "Avengers: Endgame," "Toy Story 4" and "Aladdin,"
with March's "Dumbo" as its only misfire.
"Endgame" over the weekend became the top-grossing movie of all
time at the world-wide box office, collecting nearly $2.8 billion.
At least two more virtually guaranteed Disney blockbusters are on
the way: November's "Frozen 2" and December's "Star Wars: The Rise
of Skywalker."
Heading into the weekend, Disney movies accounted for about 35%
of the box-office market share, according to Box Office Mojo. The
No. 2 studio, AT&T Inc.'s Warner Bros., had about 14%.
The new "Lion King," directed by Jon Favreau, uses computer
imaging to tell the story of Simba and Nala in photorealistic
settings. In many scenes, it is a shot-for-shot re-creation of the
1994 classic, which was the most successful title in the Disney
Renaissance of the 1990s.
Even before the remake, the 1994 movie became a textbook example
of the "circle of life" that Disney's franchise-management strategy
can give a single property. A Broadway adaptation of the movie has
collected more than $8 billion in ticket sales, and toys based on
its characters sell in stores more than 20 years after its
release.
"These movies live on in pop culture," said Cathleen Taff,
Disney's head of distribution.
Overseas, the new "Lion King" has been performing especially
well in markets like Latin America and Europe, where moviegoers are
more acquainted with the original, she said.
Critics were tough on the remake, saying it lacked the emotional
pull of the animated original. Audiences seemed more forgiving,
giving it an "A" grade, according to the CinemaScore
market-research firm.
As with most big Disney releases, rival studios avoided the
"Lion King" opening: No significant competition for the family
moviegoing audience comes until "Dora and the Lost City of Gold" is
released by Viacom Inc.'s Paramount Pictures on Aug. 9.
With no other new wide releases this weekend, holdover
"Spider-Man: Far From Home" came in second place, with $21 million
contributing to a three-week total of nearly $320 million. "Toy
Story 4" held on in third place, adding $14.6 million to its nearly
$376 million haul.
Write to Erich Schwartzel at erich.schwartzel@wsj.com
(END) Dow Jones Newswires
July 21, 2019 14:21 ET (18:21 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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