How the Stock Market anticipated the commercial success of Top Gun Maverick for Paramount

How the Stock Market anticipated the commercial success of Top Gun Maverick for Paramount

(BFM Bourse) – The launch of the second part of the film dedicated to the most famous pilot in naval aviation, Pete Mitchell (played by Tom Cruise thirty years away from the first) was accompanied by a rain of box records- office. A triumph that has already benefited Paramount on the stock market.

Success announced, “Top Gun: Maverick” turns out to be a real triumph for American actor Tom Cruise, who donned the flight suit of Lieutenant “Maverick”, one of the roles that made him famous in 1986, for a sequel to this mythical film of the period. If the film was shot between 2018 and 2019, its release initially scheduled for summer 2019 has been postponed several times, in particular due to the Covid-19 pandemic, but on arrival the sensation is not smaller.

Strategically set for the long Memorial Day weekend (the last Monday in May being a public holiday in the United States), the release of the feature film directed by Joseph Kosinski crushed the competition, and offered Tom Cruise – now in its fifth decade at the pinnacle of world cinema – new records.

Scheduled in 4,735 theaters on Friday, the unprecedented film generated $51.8 million in revenue in the United States on that single day, according to figures from Exhibitor Relations Co., bringing Paramount to a new estimate of at least 150 million dollars for the whole of the four days (including the “previews”, takings from the premieres of the previous evening). Compared to a budget of around 170 million…

Total long weekend receipts ultimately reached $126m for the US, and $126.7m internationally (including $19.4m in the UK, $11.7m in France and 10.7 million in Australia), or $252.7 million in total.

Biggest worldwide success for a first weekend

Mission accomplished for the 59-year-old actor, who is also the film’s co-producer: it’s quite simply the first time that a film in which he stars has passed the 100 million mark in the first weekend. of recipes.

Also, Top Gun: Maverick apparently robs 2007’s “Pirates of the Caribbean: At World’s End” of the crown of greatest success in history for a Memorial Day weekend, including Thursday previews. .

Top Gun “2” also marks the fifth time since the start of 2022 that a Paramount title has risen to the number one spot for its launch, after Scream (Scream “5” which re-enacted the cast of 1996’s Scream), Jackass Forever, The Lost City and Sonic the Hedgehog 2.

Investors were not mistaken…notably Warren Buffett, whose Berkshire Hathaway holding company recently opened a position in Paramount. Over the past fortnight, as the film’s release approaches, the action has recovered 28%, including 4.66% on Friday in view of the good “previews”. This Monday, despite a decline in the American markets, the title maintains a slight gain of 0.32%, allowing the distributor to post a total capitalization of more than 21.1 billion dollars, which represents less than six times the profits. annual.

Guillaume Bayre – ©2022 BFM Bourse

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