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Disney Gains as Star Wars Advance Ticket Sales Skyrocket

The decade-long wait to watch a Star Wars movie in theaters is finally over as The Walt Disney Company 's DIS Star Wars: The Force Awakens will hit the theaters in a couple of days. High expectation from this movie is driving the company's shares even higher. Disney's shares have gained nearly 4% in the previous two trading sessions.

Per the market buzz, the movie is set to become the biggest opening ever in the month of December, breaking the record of The Hobbit: An Unexpected Journey, which earned $85 million domestically in the opening weekend of Dec 2012.

If we go by movie ticket seller, Fandango, Star Wars: The Force Awakens has already broken all records in advance ticket selling. IMAX Corporation said that it has sold tickets twice that of the earlier record. Disney has entered into a tie up with IMAX to release The Force Awakens on all IMAX screens across North America for a four week-long period, from the time of its release on Dec 18. Moreover, most of the overseas IMAX locations will be screening The Force Awakens for a month.

According to MovieTickets.com, the advance tickets booked for the Star Wars: The Force Awakens in the past 24 hours makes up 91% of all sales of the website. Analysts have estimated that the movie will collect $130 million to $150 million during the opening weekend. Lucasfilm started the advance ticket sales from the month of October.

However, it will be difficult for Star Wars: The Force Awakens to break the record of Avatar, which became the highest grossing movie ever with $2.8 billion in worldwide collections. The second film to collect more than $2 billion was Titanic. Although, if this seventh Star Wars episode manages to break the records of these two movies, it won't come as a surprise given the kind of popularity it has seen in the past few months.

There has been a lot of buzz surrounding Star Wars ever since Disney announced the seventh episode. It is the first Star Wars movie in a decade. The last release was Revenge of Sith in 2005. The release of Star Wars: The Force Awakens will be a fitting end to Disney's spectacular year.

Disney, which shares space with Twenty-First Century Fox, Inc. FOXA , Time Warner Inc. TWX and Comcast Corporation CMCSA , has a Zacks Rank #3 (Hold).

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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