Lions Gate Entertainment Corp.’s (LGF) The Hunger Games: Mockingjay Part 1, released on Nov 21, has amassed the highest opening for 2014. The third and the much awaited installment of the hugely popular The Hunger Games franchise collected over $123 million at the domestic box office over its debut weekend, toppling the previous 2014 record of a $100 million held by Viacom, Inc.’s (VIAB) Transformers: Age of Extinction.
However, the reported figure was considerably lower than the $150 million plus openings for both the previous installments, namely, The Hunger Games (2012) and The Hunger Games: Catching Fire (2013). Nevertheless, this should not be a major worry for Lions Gate.
As per analysts, the third part of the four movie franchise is always the ‘underperformer’ as it lacks the thrill of the first movie or the sequel or the finale. In Mockingjay’s case, the movie is not only the third in line but is devoid of any major action as the makers have chosen to keep it all for the finale, Mockingjay Part 2, that releases in Nov 2015. Mockingjay Part 1 basically sets the stage for the final showdown. Also, the unavailability of IMAX might have contributed to relatively lower collections.
Though domestic collections of Mockingjay Part 1 are lower than expected, the franchise still boasts over $100 million opening weekend box office for all its movies. We are rest assured that the final movie will post a record opening given the immense popularity of the franchise.
The Hunger Games, for its parent, Lions Gate, has been nothing short of a shot in the arm. The movies have to date raked in over $1.8 billion. With the franchise’s phenomenal success, Lions Gate has emerged as a power to reckon within the media circle that includes giants like The Walt Disney Company (DIS), Twenty-First Century Fox, Inc. (FOXA) and CBS Corp. (CBS).
The Hunger Games is based on the novel of the same name by author Suzanne Collins. Set in the post-apocalyptic dystopian society of Panem, it tells the story of Katniss Everdeen, played by Jennifer Lawrence, who spearheads a mass rebellion against a tyrannical government.
At present, Lions Gate is a Zacks Rank #3 (Hold) stock.
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