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Monday, March 19, 2012

Disney Hits The Red

     If Walt Disney was alive, he wouldn't be happy with his bank account. If you've bought Disney stock, you might want to sell some back. Walt Disney Pictures announced that their new prodigy, John Carter, is most likely going to loose the studio around $200 million.
     Wow what anyone could do with $200 million dollars- anything. I probably would buy a private island and put 5 Chili's restaurants on it, but that's a different story. Anyways; Disney has came to this conclusion even though the move is only in its 2nd week and is still playing around the globe and even though John Carter has already in fact made $180 million worldwide. Future TV rights, home video sales, rentals, and merchandise will generate revenue, so this new estimate from Disney may be a little optimistic; we won't fully know the damage done by John Carter until all of that is factored in.
     John Carter dropped 55% last weekend, which is a steep fall for non percentage followers; and its opening was on the low end for what it needed to be. The movie is playing okay overseas, but in America, it has turned out a stinker. Maybe our expectations were too high? Or maybe the budget? 
     This was supposed to be Disney's Avatar, but it seems only Avatar can be Avatar now. The movie was originally John Carter of Mars; maybe we'll get a John Carter of Saturn- since that seems to be most peoples favorite planet.

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