‘Indiana Jones And The Dial Of Destiny’ To Ring Up Around $60M Opening: Here’s Why – Early Box Office Outlook

By Anthony D'Alessandro
Anthony D'Alessandro

Editorial Director/Box Office Editor
@AwardsTony
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June 8, 2023 9:48am

In the wake of world premiering in Cannes to lackluster film reviews at 50% Rotten, Disney/Lucasfilm’s Indiana Jones and the Dial of Destiny is currently looking at a $60M+ domestic opening.

The movie opens on June 30 heading into what is conceivably a five-day play period given that Independence Day falls on a Tuesday.

Dial of Destiny‘s 3-day is down from the $100.1M 3-day of the last movie, 2008’s Indiana Jones and the Kingdom of the Crystal Skull — and this latest sequel reps the finale for the entire franchise. Crystal Skull opened on a Thursday over a Memorial Day weekend earning in total over five days, $151.9M. Logan filmmaker James Mangold took over helming the finale from franchise architect Steven Spielberg. Currently, Dial of Destiny is tracking significantly with older guys over younger, which has many comping he pic to the Daniel Craig 007 finale, No Time to Die ($55.2M) and 2018’s Mission: Impossible – Fallout ($61.2M).

Some are saying a $70M start for Dial of Destiny — that’s quite a stretch. Realize that Lionsgate’s John Wick: Chapter 4 opened to $73.8M with double the tracking metrics that Dial of Destiny is showing here.

Disney will need to pick up the slack in the coming weeks in their marketing to get more interest from younger guys, their distraction now being Spider-Man: Across the Spider-Verse in theaters and the upcoming Warner Bros DC The Flash on June 16. However, that hard word of mouth out of Cannes is quite the hurdle. Indiana Jones and the Kingdom of the Crystal Skull, which wasn’t beloved by many, settled at 77% certified fresh and a B CinemaScore versus the previous 1989 installment, Indiana Jones and the Last Crusade, which earned 84% certified fresh from critics and a solid A CinemaScore.

With Dial of Destiny at a $60M 3-day, that’s easily the second-best start for the Indiana Jones franchise. In the box office era, Last Crusade opened to $29.3M 3-day ($46.9M over extended Memorial Day weekend) at 2,327 theaters. 1984’s Indiana Jones and the Temple of Doom bowed to $25.3M 3-day ($42.2M extended Memorial Day weekend) at 1,687 theaters. 1981’s Raiders of the Lost Ark‘s gross trajectory harkens back to the way blockbusters were made over a year: The pic opened to $8.3M at 1,078 theaters and by January 1982 earned $179.6M with an initial cume of $212.2M, lifetime gross of $248.1M.

Comcast stops funding Hulu as fight with Disney escalates

The two sides are likely to bring their issue before an arbitrator next year as Disney looks to buy Comcast's 33 percent stake in the streamer.
By: Matthew KeysThursday, May 25, 2023

Comcast’s NBC Universal has stopped providing financial backing to general entertainment streamer Hulu as the company works with the Walt Disney Company on a potential acquisition of the cable giant’s minority stake.

The two sides have until early 2024 to find common ground on the valuation of Hulu as part of a broader transaction that would see Disney acquiring full control of the service from Comcast.

Disney and NBC Universal were two of the three media brands who launched Hulu as a joint venture in 2007, years before streaming overtook cable to become the dominant platform for television. Both companies owned an equal 30 percent stake, with 21st Century Fox (now Fox Corporation) holding another 30 percent, and a rotating group of minority investors owning the last 10 percent.

In early 2019, Disney bought Fox’s stake in Hulu as part of a broader asset purchase. The remaining 10 percent not owned by Disney or Comcast was split between the two companies after WarnerMedia exited the venture.

Both sides have been working for years to settle on a long-term plan for Hulu, which will almost certainly end with Disney acquiring Comcast’s 33 percent stake in the venture next year. One area of contention is how much that 33 percent stake is worth — as Hulu becomes more successful, Disney reaps most of the rewards, but the valuation increases accordingly for Comcast’s stake, and that raises the potential acquisition price. (Some estimates put the potential valuation as high as $27.5 billion.)

Disney and Comcast compete in other areas — both have standalone streaming services for some of their own content (Disney Plus and Peacock) — and Hulu has been viewed as something of a stepchild for both companies, who have struggled for years with how to reap the financial benefits of the venture without giving the other side a leg up.

Last year, Comcast drew the first blow when it decided to pull its top-tier NBC content from Hulu and move shows like “The Office” and “Parks & Recreation” to Peacock exclusively. The move helped spur interest in Peacock, but it didn’t necessarily come at a detriment to Hulu; Disney responded by incorporating more television shows from FX and Freeform into the service, and inking separate licensing agreements with competitors like Warner Bros Discovery (WBD) for classic sitcoms and dramas. The end result is that Hulu’s subscriber growth, while stagnant compared to its peers, didn’t move in the other direction.

On Thursday, the Wall Street Journal revealed for the first time that Disney and Comcast have brought their issue before an arbitrator, who may ultimately wind up deciding how much Hulu is worth if both sides can’t settle on a number by early next year. The Journal’s report also said that Comcast had stopped funding Hulu, citing unnamed people who were purportedly familiar with the company’s finances; Disney has stepped in to cover the bills, the Journal said.

Earlier this month, Disney said it will introduce a new streaming option that marries the content libraries of Hulu with its family-friendly Disney Plus by the end of the year. The so-called “super app” will allow streamers to watch shows from ABC, FX, Freeform and Fox alongside classic and current Disney films in one place, without having to switch services.

Disney's chief financial officer stepping down
WESH logo Updated: 10:57 PM EDT Jun 15, 2023
Deanna Williamson
Digital Producer

ABOVE: A look at today's top stories

Disney announced that Christine McCarthy, the company's chief financial officer and senior executive vice president, has made the decision to step down.

A statement from Disney said McCarthy is "taking a family medical leave of absence."

Beginning July 1, the CFO and executive vice president of Disney parks, experiences and products, Kevin Lansberry, will begin as the interim CFO for the company, according to Disney.

"McCarthy will continue as a strategic advisor to the company during her leave and will assist with the process of identifying and onboarding a long-term successor to ensure a smooth and successful transition," Disney said in a statement.

Originally Posted By JamPo:
I’m excited at the prospect of their demise.

Originally Posted By Rugerlvr:
They'll be fine.

Nothing will happen.

Originally Posted By Bunnysriflestock:
Sooner or later I think there will be a share holder lawsuit with them.

Originally Posted By Paul:
4th quarter 2022 numbers are published: Disney revenues for the quarter and year grew 9% and 23%, respectively.

Disney cash on hand for the quarter ending March 31, 2023 was $10,399,000,000.00.

The loss of the $890,000,000 is a loss of 8.5% of their operating cash.

Originally Posted By Paul:
4th quarter 2022 numbers are published: Disney revenues for the quarter and year grew 9% and 23%, respectively.

Disney cash on hand for the quarter ending March 31, 2023 was $10,399,000,000.00.

The loss of the $890,000,000 is a loss of 8.5% of their operating cash.

Disney Faces Dramatic Escalation In $150M+ Gender Discrimination & Pay Equity Suit

By Dominic Patten
June 30, 2023 12:38pm

Disney Reveals Doctor Strange 2 Cost $100 Million More Than Its Estimated Budget
Caroline Reid
Contributor
I cover the entertainment industry focusing on movies and theme parks.
Jul 1, 2023,10:28am EDT

Disney has revealed that last year's blockbuster Doctor Strange in the Multiverse of Madness cost $94.5 million more to make than the movie's $200 million estimated production budget.

The sequel to 2016's Doctor Strange stars Benedict Cumberbatch as the eponymous wizard who travels through different dimensions to stop Elizabeth Olsen’s Scarlet Witch from catching a young girl with magical powers.

As we have reported, the movie was filmed in the United Kingdom and this shines a spotlight on its spending. Movies made in the UK are eligible for a cash reimbursement of up to 25% of the amount they spend there provided that it represents at least 10% of the total cost of the picture.

In order to demonstrate this, studios set up separate UK companies to make each movie and they are required to file publicly-available financial statements.

The companies have code names to stop them from raising attention when they apply for permits to film on location. Doctor Strange 2 was made by Supreme Works Productions 2 in a nod to the status of Cumberbatch's Marvel Comics character as the Sorcerer Supreme.

As with all UK companies, its financial statements are released in stages long after the period they relate to. The latest set was released earlier this week and covers the year to May 8, 2022 which was two days after Doctor Strange 2 was released. During the year, $135.3 million (£106.5 million) was spent on making the movie with the majority of it going on post-production. When this is combined with the $213.7 million that had already been incurred during pre-production and filming it gives the movie total costs of $349 million.

It was reimbursed a total of $54.5 million (£42.9 million) bringing the net production cost of the picture to $294.5 million. As this covers the period up to the movie's release, the costs are not expected to increase significantly in future financial statements. The total was $94.5 million more than the estimates of the production cost from Variety and Deadline which were reported by outlets such as USA Today and IGN IGN .

The UK government's regulations state that there is "no requirement" for the spending shown in the financial statements to include marketing costs and there is no indication that they do. In fact, it seems highly unlikely as studios' marketing teams promote multiple movies at the same time so their salaries could not be allocated to individual films. This view is endorsed by the financial statements as they clearly describe the business as being "involved in the production of a film". Accordingly, they should show the production costs with the marketing spend incurred separately by the studio.

There is no doubt that the movie cost more to make than even Disney expected and there is good reason for this. The latest financial statements reveal that the "cost was forecasted to be over the production budget due to the impact of COVID-19". It is unclear whether this corresponds precisely to the difference between the estimates and the actual spending but it is likely that it accounted for at least part of it as the cost over-run was so unexpected and even studios found it difficult to forecast how much would be required. Doctor Strange 2 was particularly badly hit due to its timing.

The movie was originally due to be released in May 2021 but was delayed by a year as the coronavirus pandemic temporarily brought the curtain down the production. It resumed in August 2020 but didn't last for long.

In January 2021 Olsen told Jimmy Kimmel Live that production had stopped due to a rise in COVID-19 cases in the UK. "Since the hospitals are overwhelmed here we can't go back to work until that calms down," she said. It was such a problem that Marvel claimed $1.5 million (£1.2 million) of furlough grants from the UK government in connection with the movie.

A cumulative total of $22.4 million (£17.6 million) was spent on staff with the workforce peaking at 381 people in 2021. That doesn't even include freelancers and self-employed workers who make up the majority of the crew. Likewise, it also excludes the staff of external agencies that worked on the film such as security contractors and special effects firms. Spending on these services generates economic impact in the UK which explains why the government gives generous cash reimbursements to studios.

Their biggest returns come from ticket sales as studios receive around 50% of the box office with the remainder retained by theater operators. According to industry analyst Box Office Mojo, Doctor Strange in the Multiverse of Madness grossed $955.8 million making it the most successful of the three films Marvel released in 2022. The increased spending on post-production narrowed the movie's margins leaving it with a profit of $183.4 million.

Lightyear (pictured) and Strange World made only a combined $300m at the box office © 2021 ... [+]PIXAR

The disclosure of the higher than expected spending follows a series of box office busts for Disney and its prestigious Pixar division. Last year their animated movies Lightyear and Strange World were both branded woke and together only grossed $300 million. More recently, the live action version of classic cartoon the Little Mermaid didn’t make a big splash at the box office whilst last month's Elemental earned $29.5 million over the three days of its first weekend giving it the lowest debut of a Pixar film since Toy Story in 1995.

Disney's hopes are now pinned on the Haunted Mansion movie which is based on its classic theme park attraction and stars Owen Wilson and Danny DeVito. It will debut in late July and will be followed just over three months later by the next instalment in the Marvel Cinematic Universe.

Disney's 2023 hopes are now pinned on The Marvels © 2023 MARVEL.Courtesy of Marvel Studios

Called The Marvels, the sci-fi film is the sequel to 2019's Captain Marvel and stars newcomer Iman Vellani alongside Oscar-winner Brie Larson. As we revealed in April, its pre-production costs alone came to around $130 million so the stakes are high for Disney yet again. Time will tell if it can finally get a happy ending.

Originally Posted By JamPo:
I’m excited at the prospect of their demise.

Originally Posted By 999monkeys:

What is the word?  It’s not “grooming”.  “Grooming” means something different, unless definitions have changed.  It is done by a child predator who intends to prey on a child, not by a teacher or whoever who does not intend to prey on a child.

I’ve been wondering why so many people use the word incorrectly on here.  Particularly given that there a a number of sticklers for words having specific meaning.

Originally Posted By Mauser556:
Sound of Freedom is beating Disney.

https://www.youtube.com/watch?v=ylyMLGRuAso

Originally Posted By 999monkeys:
What is the word?  It’s not “grooming”.  “Grooming” means something different, unless definitions have changed.  It is done by a child predator who intends to prey on a child, not by a teacher or whoever who does not intend to prey on a child.
I’ve been wondering why so many people use the word incorrectly on here.  Particularly given that there a a number of sticklers for words having specific meaning.

Originally Posted By Paul:
4th quarter 2022 numbers are published: Disney revenues for the quarter and year grew 9% and 23%, respectively.

Disney cash on hand for the quarter ending March 31, 2023 was $10,399,000,000.00.

The loss of the $890,000,000 is a loss of 8.5% of their operating cash.

Originally Posted By gpoman:


They will be fine. Theme parks and merchandise will always keep them afloat.

Originally Posted By GunLvrPHD:
The Leftists are blaming Desantis for the drop in WDW attendance. But Universal isn't seeing similar drops.

Originally Posted By Mauser556:
Sound of Freedom is beating Disney.

https://www.youtube.com/watch?v=ylyMLGRuAso

Originally Posted By ludder093:
DeSantis is              Disney.  They went woke and deserve to go broke.

Originally Posted By ken_mays:
Here’s the dark lining of the cloud.  People attend the parks and buy merchandise because they have pleasant associations with the films and other entertainment properties.  As a result, Disney has been profiting from the goodwill generated by their portfolio up until now.   As those customers age out or turn away, Disney has a rapidly shrinking base of content to hook replacement customers.  

Who’s going to spend mega bucks to take the family to Disney in 10 or 20 years because they feel nostalgic about “Togo” or “Elementals” or the other shit they’re currently churning out?  If they don’t turn it around soon, they are cutting off a huge future market.  At best the theme parks will be another Six Flags and their merchandising will dry up.