Filed under: Walt Disney (DIS)
The Walt Disney Company (NYSE: DIS) had a great weekend — a lot better than Tom Brady et al.’s weekend, to be sure. I don’t care about football, but I do care about Disney, since I am long the stock. Its Hannah Montana & Miley Cyrus: Best of Both Worlds concert film grossed about $29 million for the three-day frame. Not too shabby.
I liked the original concept for the release of this film: get in and out, quick and dirty, with a one-week release schedule. Of course, I knew in my gut that, if successful, the run would be extended (I think everyone’s gut probably told them the same thing). According to reports, the film will be allowed an extra week of play.
As a Disney shareholder, I obviously want profits maximized to the fullest extent conceivable. But, I wish Disney acted a bit edgier with this one. The company should have released it just for one weekend, taken in the dough (I presume this was a pretty low-budget affair), and then dumped the film on DVD and pay-per-view immediately on Monday. It is time to find out once and for all if near day-and-date release patterns truly can work for major projects. Remember, there’s been a lot of buzz in recent years about cutting costs by simultaneously releasing movies to multiple platforms; I think this would have been a great test case for the media industry.
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