Investors Wary Of Phoenix Flight
Harry Potter and the Order of the Phoenix turned into a bigger order than even Warner Bros. expected as the movie smashed records in its first five days, taking in a total of $140 million in North America and $330 million worldwide, the studio said Monday. Nevertheless shares in Time Warner, which is likely to take in more than $1 billion from the film eventually, barely inched forward on Monday, rising only seven cents. Bloomberg News suggested that the reason for the cool response may be investors' wariness with media stocks in general. Traditionally, it noted, studios don't reveal the actual costs of making a film and often don't break out earnings from ancillary sales, like toys and videogames, either. "Because there's no way to tell how much Time Warner will really earn from the full Phoenix juggernaut, investors may be loath to give it the benefit of the doubt," the wire service commented.
The top ten films over the weekend, according to final figures compiled by Media by Numbers (figures in parentheses represent total gross to date):
1. Harry Potter and the Order of the Phoenix, Warner Bros., $77,108,414, 1 Wk. ($139,715,157); 2. Transformers, Paramount, $37,027,901, 2 Wks. ($224,009,583); 3. Ratatouille, Disney, $18,012,196, 3 Wks. ($142,997,082); 4. Live Free or Die Hard, 20th Century Fox, $11,279,135, 3 Wks. ($103,322,580); 5. License to Wed, Warner Bros., $7,311,297, 2 Wks. ($30,379,749); 6. 1408, MGM, $4,934,516, 4 Wks. ($62,127,222); 7. Evan Almighty, Universal, $4,895,055, 4 Wks. ($87,790,505); 8. Knocked Up, Universal, $3,676,500, 7 Wks. ($138,217,270); 9. Sicko, Lionsgate, $2,604,139, 4 Wks. ($15,830,046); 10. Ocean's Thirteen, Warner Bros., $1,984,323, 6 Wks. ($112,506,702).