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Iron Man 3 and Great Gatsby Score Big at Theaters

It was another blockbuster weekend for movie theaters across the country. Iron Man 3, the third in the Iron Man franchise brought in another $72.5 million for Disney (NYSE: DIS), making the total domestic tally $247.5 million over its first two weekends. In total, the movie’s international haul is $944 million, assuring that it will hit the coveted $1 billion mark that movie studios dream of.

This weekend’s box office haul was 58 percent lower than last weekend but still a number that any studio would love to have as its opening weekend.

Disney’s acquisition of Marvel has proved to be a lucritive deal for the company as the last film to break the $1 billion mark was Disney/Marvel hit, The Avengers.

But Iron Man 3 wasn’t the only film that did well. The Great Gatsby, Australian director Baz Luhrman’s, interpretation of the book, brought in $51.1 million. This was much higher than the $45 million estimate and Luhrmann’s best first weekend ever. The Moulin Rouge director’s latest film received mixed reviews but was a hit with adult-aged females. Demographic data showed that 60 percent of ticket holders were female.

Even more important than the performance of these two movies, studios and theaters are excited to see such a strong start to the summer movie season. The early summer months are the theaters’ version of November and December where most of their yearly revenue comes from these months.

With upcoming, heavily-hyped movies like Man of Steel and Start Trek: Into Darkness set to hit theaters, this would be one of the best summer movie seasons in recent history, according to some reports.

Not all movies were winners this weekend. Tyler Perry Presents: Peoples, brought in $4.8 million–a disappointment for Lionsgate (NYSE: LGF) but critics argue that this was a tough weekend for any lower budget movie to gain market share.

Disclosure: At the time of this writing, Tim Parker had no position in any of the securities mentioned.

[stock-tools exchange="NYSE" symbol="DIS" image_height="180" image_width="300"]

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