‘Mission: Impossible’ Debuts with $80M over 5 Days

This image released by Paramount Pictures shows Hayley Atwell, left, and Tom Cruise in a scene from "Mission: Impossible - Dead Reckoning, Part One." (Paramount Pictures via AP)
This image released by Paramount Pictures shows Hayley Atwell, left, and Tom Cruise in a scene from "Mission: Impossible - Dead Reckoning, Part One." (Paramount Pictures via AP)
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‘Mission: Impossible’ Debuts with $80M over 5 Days

This image released by Paramount Pictures shows Hayley Atwell, left, and Tom Cruise in a scene from "Mission: Impossible - Dead Reckoning, Part One." (Paramount Pictures via AP)
This image released by Paramount Pictures shows Hayley Atwell, left, and Tom Cruise in a scene from "Mission: Impossible - Dead Reckoning, Part One." (Paramount Pictures via AP)

After a globe-trotting publicity blitz by star Tom Cruise, “Mission: Impossible – Dead Reckoning Part One” launched with a franchise-best $80 million over five days, though it came in shy of industry expectations with a $56.2 million haul over the three-day weekend.
The Paramount Pictures debut was boosted by strong overseas sales of $155 million from 70 markets. But while a $235 million worldwide launch marked one of the best global openings of the year, “Dead Reckoning” couldn’t approach the high-speed velocity of last summer’s top film, “Top Gun: Maverick.”
“Dead Reckoning Part One,” the seventh film in the 27-year-old series, had been forecast to better the franchise high of the previous installment, “Fallout,” which opened with $61 million domestically in 2018. Instead, it also fell short of the $57.8 million “Mission: Impossible II” debuted with in 2000.
That puts the film's opening-weekend tally very close to the tepid launch of Disney's “Indiana Jones and the Dial of Destiny,” which opened in US and Canadian theaters with $82 million over five days and $60 million over the three-day weekend. Paramount and Skydance had higher hopes for the action extravaganza of “Dead Reckoning,” which cost $290 million to make, not counting marketing expenses.
Those costs were inflated, in part, by the pandemic. “Dead Reckoning,” directed by Christopher McQuarrie, was among the first major productions shut down by COVID-19. It was preparing to shoot in Italy in March 2020. When the film got back on track, McQuarrie and Cruise helped lead the industry-wide recovery back to film sets – albeit with some well-publicized friction over protocols along the way.
Still, “Dead Reckoning” was hailed as a high point in the franchise. Critics (96% fresh on Rotten Tomatoes) and fans (an “A” CinemaScore) alike came away awed by the stunts and chases of the latest “Mission: Impossible” film. Though the coming competition of “Barbenheimer” — the much-anticipated debuts of “Barbie” and “Oppenheimer” — looms, “Mission: Impossible” should play well for weeks to come.
Cruise, the so-called savior of movie theaters last year, traveled tirelessly to again pump life back into a summer box office that’s been sluggish. After a splashy world premiere in Rome with a red-carpet on the Spanish Steps, Cruise and McQuarrie toured through theaters in Atlanta, Miami, Toronto and Washington D.C. in the days ahead of opening.
“Dead Reckoning” hit theaters at a crucial mid-summer period for Hollywood, and not just because of the SAG-AFTRA strike which began Thursday. “Mission: Impossible” launched a week before one of the biggest box-office showdowns of the year.
Though “Dead Reckoning” and “Oppenheimer” have vied for some of the same IMAX screens, each film has publicly endorsed the idea that a rising tide lifts all blockbusters. Cruise and McQuarrie in early July even bought opening-weekend tickets to both “Barbie” and “Oppenheimer.” “Barbie” director Greta Gerwig and “Oppenheimer” filmmaker Christopher Nolan returned with their own gestures of support.
However that trio of films performs over the next few weeks will do a lot to determine the fate of the summer box office.
No other new wide release challenged “Mission: Impossible” over the weekend. Second place went to Angel Studios’ faith-based political thriller “Sound of Freedom” which increased 37% in its second with $27 million. Jim Caveziel stars in the child trafficking drama.



Walt Disney Earnings Beat Market Estimates; Profit Slips at Parks

The entrance to Walt Disney studios is seen in Burbank, California, US August 6, 2018. REUTERS/Lucy Nicholson/File Photo Purchase Licensing Rights
The entrance to Walt Disney studios is seen in Burbank, California, US August 6, 2018. REUTERS/Lucy Nicholson/File Photo Purchase Licensing Rights
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Walt Disney Earnings Beat Market Estimates; Profit Slips at Parks

The entrance to Walt Disney studios is seen in Burbank, California, US August 6, 2018. REUTERS/Lucy Nicholson/File Photo Purchase Licensing Rights
The entrance to Walt Disney studios is seen in Burbank, California, US August 6, 2018. REUTERS/Lucy Nicholson/File Photo Purchase Licensing Rights

Walt Disney reported on Wednesday quarterly earnings that exceeded Wall Street expectations, buoyed by the success of animated Pixar film "Inside Out 2", which helped overcome a profit decline at theme parks.

April-June operating income nearly tripled at its Entertainment unit, with the combined streaming businesses of Disney+, Hulu and ESPN+ posting a profit for the first time, Reuters reported.

But the company's shares slipped 0.8% before the bell as its experiences segment that includes parks and consumer products - and makes up just over half of profit - recorded an operating income drop of 3%. Disney said "moderation" of demand at its US parks could continue through the next few quarters.

Operating income for the unit is likely to fall by "mid single digits" in the July-September quarter compared with the same period a year prior, Disney said.

Adjusted earnings-per-share reached $1.39 for Disney's fiscal third quarter, topping analyst estimates of $1.19, LSEG data showed. Revenue rose 4% to $23.2 billion, beating forecasts of $23.1 billion.

Chief Executive Bob Iger touted success in the entertainment division, where Disney's combined streaming businesses turned a profit a quarter ahead of its projections.

"We are confident in our ability to continue driving earnings growth through our collection of unique and powerful assets," Iger said in a statement.

Iger is working to rebuild Disney after billions of dollars in loss from streaming efforts, the decline of traditional television and a rough patch for its storied film studio.

The movie studio is showing signs of resurgence.

"Inside Out 2" notched $1.6 billion in global ticket sales and "Deadpool & Wolverine," which debuted in the current quarter, has brought in more than $850 million.

"After several years of misfires and muted successes, Disney has now in the span of a month and a half released the highest grossing animated film of all time and achieved the largest ever opening for an R-Rated film," MoffettNathanson media analyst Robert Fishman wrote ahead of Disney's earnings release.

While it remains to be seen whether those successes represent a return to form, Fishman said, the upcoming film slate is "filled with highly dependable" titles including "Moana 2" and Oscar-winning director Barry Jenkins' "Mufasa: The Lion King."

The Entertainment division, which includes the film, television and streaming businesses, reported operating income of $1.2 billion in the quarter.

The Disney+, Hulu and ESPN+ streaming services produced operating profit of $47 million.

At the Sports unit, which includes the ESPN network and Star India business, operating income reached $802 million, a 6% decline from the previous year as costs to air cricket matches increased.

The experiences unit reported operating income of $2.2 billion. Demand slid at domestic parks, cruise ships, consumer products and some international parks "delivered improved results," Disney said.

Ben Barringer, technology and media analyst at Quilter Cheviot, said the parks results "pour fuel onto the fire" of concern about a slowing US economy.

"Coupled with other travel companies recognizing poor growth, it is clear people are scaling back their spend when it comes to tourism and recreation," Barringer said. "Some of this is due to Disneyland Paris struggling due to the Olympics being in town, as well as China going through its own economic problems, but the guide is not a positive one and thus we should expect further struggles through the rest of the year."