CNN/Money  
graphic
Commentary
graphic
MovieMoney: Happy about 'Hulk'
With Vivendi ready to accept bids for Universal, success of action film comes at a perfect time.
June 23, 2003: 7:29 AM EDT
By Martin A. Grove, contributing writer

LOS ANGELES - With Universal Pictures up for sale as a unit of Vivendi Universal Entertainment (VUE) and bids due in Paris Monday, the studio's blockbuster success couldn't be better timed.

Besides launching its and Marvel Enterprises' action fantasy "The Hulk" to a record-setting $62.6 million, Universal also nailed down two other Top Five slots. "2 Fast 2 Furious" was third ($102.1 million to date) and "Bruce Almighty" finished fourth ($210.7 million to date).

Universal's three hits grossed nearly $83 million with a 57 percent share of the weekend's key films total of $144.2 million. For would-be buyers, VUE's value can only be enhanced by the heat Universal's production, marketing and distribution units are generating this summer.

Directed by Ang Lee, "Hulk" stars Eric Bana and Jennifer Connelly.

"Only 19 movies have ever opened to $60 million-plus and none have been in June," Universal distribution president Nikki Rocco told me. "It's the biggest June opening ever." The prior June record was New Line for "Austin Powers: The Spy Who Shagged Me" ($54.9 million in June, 1999).

"This is absolutely a thrill for myself and my team and for the studio, for marketing and production," Rocco said. "This film is ground-breaking. It's unique. It's the introduction of a character and to be as big as it is (without being a sequel is all the more impressive).

"What's even more exciting is that there's never been a studio to have three back-to-back movies opening to $50 million-plus -- two of which were $60 million-plus. (Moreover,) there's never been a studio to have three films in the Top Five in the last five years in the summertime or any time," the Vivendi Universal (V: Research, Estimates) exec said.

That success, Rocco noted, "speaks to the incredible market share we have this weekend. We're delivering over $82 million to the market and taking a 57 percent piece of the pie. Now that's extraordinary and exhibition has to be bowing down to the Universal globe! We've set a pace here, which is traditional for Universal to do. We knew we were going to have a successful summer. We had faith in every one of our six films. Having these expectations and having them come to fruition is really exciting."

Disney (DIS: Research, Estimates) and Pixar Animation (PIXR: Research, Estimates)'s undersea blockbuster "Finding Nemo" continued doing fin-tastic business, dropping just 28 percent in weekend four to second place with $20.5 million.

With its 24 day cumulative take at $228 million, "Nemo's" heading for $285-300 million domestically. It still appears to have the best shot at being this summer's top grossing film.

"Nemo's" principal competition, "The Matrix Reloaded" from AOL Time Warner (AOL: Research, Estimates)'s Warner Bros. and Village Roadshow Pictures, has grossed $264.5 million after six weeks, but is winding down now. "Reloaded" lost 500 theaters this weekend and was tenth with $4 million. After initial speculation about it doing $300 million domestically, insiders are now projecting $280 million.

"Those IMAX houses are just phenomenal," Warner Bros. Distribution president Dan Fellman said of the 50 IMAX theaters showing "Reloaded" on their giant screens. "They're up 34 percent over last weekend. We've generated $2.8 million from them so far. There's no erosion in the complexes that are (playing 'Reloaded' in) both IMAX and 35mm."

Franchise Pictures' romantic comedy "Alex & Emma," directed by Rob Reiner and starring Kate Hudson and Luke Wilson, opened sixth via Warner Bros. with an unhappy $7.2 million.

News Corp. (NWS: Research, Estimates)'s 20th Century Fox's musical romance "From Justin to Kelly" starring "American Idol's" Kelly Clarkson and Justin Guarini opened eleventh with a dull $2.9 million.

Sony (SNE: Research, Estimates)'s Columbia Pictures should capture first place Friday with "Charlie's Angels: Full Throttle" opening at 3,400-plus theaters. The original "Angels" arrived in November 2000 and did nearly $260 million worldwide.  Top of page


-- Martin Grove appears Mondays on CNNfn's "The Biz," which airs at 12:30 p.m., 8 p.m. and 11 p.m., ET.




  More on COMMENTARY
Yes Virginia, there is a Santa Claus rally
Thanks for nothing, Corporate America
It's not just the economy, stupid
  TODAY'S TOP STORIES
7 things to know before the bell
SoftBank and Toyota want driverless cars to change the world
Aston Martin falls 5% in its London IPO




graphic graphic

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.