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Time Warner Inc (NYSE:TWX) And IMAX Corporation (USA) (NYSE:IMAX) Earn $21.2 Million From Godzilla

Boston, MA 05/20/2014 (wallstreetpr) – Time Warner Inc (NYSE:TWX)’s unit Warner Bros. Pictures and IMAX Corporation (USA) (NYSE:IMAX) in association with Legendary Entertainment announced that the recent release Godzilla™ has totaled around $21.2 million.

The movie was released on May 15, 2014 in as many as 539 IMAX® 3D theaters and has reported to have the most grossing IMAX Corporation (USA) (NYSE:IMAX) release weekend of the year. In North America, Godzilla totaled around $14.2 million, where it was showcased in 352 IMAX 3D theaters. In the other 187 global IMAX theaters where the movie was released, it earned almost $7 million, hence totaling a pre- screen average of around $40,000. In all, the movie grossed almost $196.6 million for Warner Bros. internationally and $93.2 million domestically. The film will be released in China on June 13 in IMAX theaters.

Godzilla’s Sequel

Post the film’s huge success, which earned 72% positive evaluation from the review website, Legendary Entertainment LLC, is planning to make a sequel of Godzilla, as informed by a person having knowledge about the matter. The concept, development and production of Godzilla were undertaken by the company which paid 75% of the entire budget. The remaining 25% of the finances was provided by Time Warner Inc (NYSE:TWX).

Earlier Successes

Godzilla is Legendary’s second No.1 debut of 2014 after the first movie, which was a sequel called “300: Rise of an Empire” had earned $45 million in March. The first movie was also produced in collaboration with Warner Bros. and the duo had made a budget of $110 million, as informed by Box Office Mojo.

Legendary and Time Warner Bros. have worked together earlier and had produced movies on popular heroes of comic books such as the “Dark Knight” Christopher Nolan movies about comic book hero Batman. A deal between the two ended last year, post which Legendary started working with Comcast Corporation (NASDAQ:CMCSA)’s Universal Pictures.

Published by Pamela Garcia

Pamela Garcia is a keen follower of U.S. stock market

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