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The box office success of “Godzilla vs. Kong” lifted exhibition industry stocks on Monday, reinvigorating the share prices of leading theater companies such as AMC, Imax and Cinemark.
The monster mano a mano grossed a mighty $48.5 million in its first five days in theaters, setting a record for the pandemic era and signaling that after a punishing year the movie business may be poised for a post-COVID comeback.
AMC, the world’s largest exhibitor, saw shares climb 13.4%, while shares of Cinemark, another major chain, jumped 7.1% and shares of Cineworld, the owner of Regal, climbed 5.3%.
Imax, which has become a major source of box office for tentpole movies like “Godzilla vs. Kong,” saw its shares increase 4.5% over the course of the day.
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“Tom and Jerry” rounded out the top five, amassing $1.5 million in its sixth weekend in theaters. To date, the movie has made $39.5 million in the U.S. It’s also available on HBO Max.
Some of these companies surrendered some of their gains in after-hours trading.
‘Godzilla vs. Kong Full Movie Watch Online Free’ tops the pandemic box office with $32.2 million in domestic opening weekend
- Warner Bros. and Legendary’s “Godzilla vs. Kong” tallied a pandemic-best opening over the weekend, securing $32.2 million over Friday, Saturday and Sunday.
- The film, which was released domestically on Wednesday, has garnered $48.5 million in the U.S. and Canada.
- Internationally, “Godzilla vs. Kong” added an additional $71.6 million to its box office haul. Since opening last week in foreign markets, the film has tallied $285.4 million.
- “The results for ‘Godzilla vs. Kong’ are absolutely mind-blowing and represent a ‘welcome back’ of sorts for an industry that has been working its way back from the brink for over a year,” said Paul Dergarabedian, senior media analyst at Comscore.
- “Godzilla vs. Kong” opened in more than 3,000 theaters in North America over the weekend, the most of any film during the pandemic.
- In addition to posting the largest opening weekend since the coronavirus pandemic began, the film also had the largest opening day on Wednesday with $9.6 million and the largest single day on Saturday with $12.5 million.
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Though ticket sales for “Godzilla vs. Kong” are certainly encouraging, the U.S. box office has yet to fully recover from the yearlong shutdown.
- “Godzilla vs. Kong” wasn’t this weekend’s only new release. Sony Pictures’ horror film “The Unholy” pulled in $3.2 million from 1,850 locations, a modest start for the low-budget movie.
- It narrowly beat out Universal’s action thriller “Nobody” for third place on box office charts. “Nobody,” starring Bob Odenkirk as a mild-mannered father-turned-vigilante, earned $3 million in its second weekend, boosting its domestic tally to $11.8 million.
- In fourth, Disney’s animated adventure “Raya and the Last Dragon” made $2 million from 2,031 locations. The film, which is also playing on Disney Plus for a premium $30 fee, has grossed $32 million at the domestic box office.
Other theater-focused companies and chains such as the Marcus Corporation and National CineMedia, which packages advertising and pre-show programming to exhibitors, also got a stock lift, rising 4.8% and 4.4%, respectively.