‘Iron Man 3′ Continues to Rake in the Cash

by Christopher Freeburn | May 6, 2013 10:15 am

‘Iron Man 3′ Continues to Rake in the Cash

iron man 3 'Iron Man 3' Continues to Rake in the Cash[1]The third installment of Disney‘s (NYSE:DIS[2]) Iron Man franchise went straight to the top of the U.S. box office this weekend[3] and came close to setting a record.

Twelve days into its worldwide release, Iron Man 3 has generated $680.1 million in ticket sales round the world. That includes $175.3 million in the U.S and Canada over the weekend. Only 2012′s The Avengers had a bigger box office first weekend, Bloomberg notes.

Iron Man 3 has now surpassed the total box office receipts of either of the earlier installments and is projected to make $400 million in domestic ticket sales and $1.3 billion worldwide. Disney has leveraged the popularity of Marvel superheroes, building a multi-film strategy in which one movie supports another. Disney acquired the comic-book company for $4.2 billion in 2009.

Analysts say that Iron Man 3′s strong start augurs well for the summer movie season, which features a number of upcoming big-budget blockbusters, including Viacom‘s (NASDAQ:VIAB[4]) new¬†Star Trek¬†installment and Time Warner‘s (NYSE:TWX[5]) Superman-reboot Man of Steel.

Last week, Iron Man 3 set box office records in China, taking in $21.5 million on its opening day[6].

Despite the weekend’s hefty box office haul, shares of Disney dipped slightly in Monday morning trading.

Endnotes:
  1. [Image]: http://investorplace.com/wp-content/uploads/2013/05/iron-man-3.jpg
  2. DIS: http://studio-5.financialcontent.com/investplace/quote?Symbol=DIS
  3. went straight to the top of the U.S. box office this weekend: http://www.bloomberg.com/news/2013-05-05/-iron-man-3-is-2nd-best-opener-with-175-3-million-in-sales.html
  4. VIAB: http://studio-5.financialcontent.com/investplace/quote?Symbol=VIAB
  5. TWX: http://studio-5.financialcontent.com/investplace/quote?Symbol=TWX
  6. taking in $21.5 million on its opening day: http://investorplace.com/2013/05/iron-man-3-has-biggest-box-office-opening-ever-in-china/

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