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Disney's Jungle Book Tastes Massive Success at Box Office

Mowgli and his jungle friends are attracting the old and the young alike to the theaters.  The Walt Disney Company’s DIS latest release The Jungle Book is flying high at the box office with its worldwide collection nearing the $300 million mark. Following, the news the company’s shares gained nearly 3% yesterday.

The movie, which was released on Apr 15, 2016 in the U.S., shattered box office records with a massive collection of $103.6 million domestically, thereby comfortably surpassing analyst estimates of $80 million. The Jungle Book has become the second-largest opening in the history of U.S. and highest opening for a P-G (Parental guidance recommended) movie, breaking the record of Hop released in 2011. Internationally, the movie has collected nearly $200 million. The movie has collected nearly $49 million in China and more than $21 million in India.

Disney is firing on all cylinders with steady box office success that helped it cross the $5 billion mark in 2015. The company struck gold at the box office with almost every movie released over the last couple of years. In 2015, the company came up with major hits like Avengers: Age of Ultron, Marvel's Ant-Man, Inside Out, Cinderella and Star Wars: The Force Awakens.

Notably, Star Wars: The Force Awakens flew high at the box office with worldwide collection crossing the $2 billion mark.

Disney has announced two more Star Wars movies and three spin-offs. Episode VIII and IX will likely release in 2017 and 2019, respectively, while the first spin-off – Rogue One – will release in 2016. The success of its movies will also mean great business for Disney’s Consumer Products division as demand for the merchandise associated with successful movies usually skyrockets, as seen in case of Frozen. Moreover, the addition of such popular themes to Parks and Resorts should increase footfall.

Disney, which holds a Zacks Rank #3 (Hold), shares space with Twenty-First Century Fox, Inc. FOXA, Time Warner Inc. TWX and Comcast Corporation CMCSA.

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