Media giant The Walt Disney Company DIS scored a box office hit with "Inside Out 2," a movie that could also help the company's streaming segment for the fourth quarter.
What Happened: When Disney reports fourth-quarter financial results, which are currently expected in November, the company might mention the success of its hit sequel "Inside Out 2" many times.
The movie was released in theaters on June 14, which was in the company's third quarter, but a good portion of the box office success will come in the fourth-quarter financial results.
"Inside Out 2" also recently premiered on Disney+ on Sept. 25, which is part of the company's fourth quarter. The movie's streaming premiere may help Disney+ subscriber numbers trend up in the quarter.
The movie had 30.5 million views in its first five days of availability on Disney+, as reported by Variety. This marks the biggest film premiere on Disney+ in 2024 and the biggest premiere for a theatrical film since 2021 for Disney ("Encanto").
"Inside Out 2" also had its biggest premiere on Disney+ in the EMEA (Europe, the Middle East and Africa) and Latin America regions.
Why It's Important: The film's success on Disney+ adds to its successful theatrical run, which saw it become the highest-grossing animated film of all time.
The film grossed $653 million domestically and $1.69 billion worldwide, ranking first in both markets, as reported by BoxOfficeMojo. The movie was the first film to cross $1 billion worldwide in 2024, a milestone that Disney failed to reach in 2023.
"Inside Out 2" is only the 12th movie to pass $1 billion in international markets and the first animated film to achieve this milestone.
While the animated film was a huge hit for Disney, the media giant also experienced another blockbuster with the release of "Deadpool & Wolverine" on July 26. The superhero film grossed $631.4 million domestically and $1.33 billion worldwide, ranking second in both markets.
This gives Disney a lot to be happy about in the fourth quarter and could shine through in the quarterly results.
The media company could also highlight its future movie catalysts, which include "Deadpool & Wolverine" hitting Disney+ likely in October or November and the theatrical releases of "Moana 2" and “Mufasa: The Lion King” on Nov. 27 and Dec. 20, respectively.
DIS Price Action: Disney stock is down 1.7% to $94.48 on Tuesday, versus a 52-week trading range of $78.73 to $123.74. Disney stock is up 6% year-to-date in 2024.
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