The latest chapter in the Star Wars saga, Star Wars: The Force Awakens, has successfully breathed new life in the franchise. We all knew it would, because the force is strong with this franchise, no one was sure though how much the film will earn in its first weekend in the U.S.
Now we know.
Star Wars: The Force Awakens broke box office records with an astonishing $238 million over the weekend, which is now the new record for the highest opening weekend debut in North America. The previous record holder, also a movie released in 2015, and also based on a classic and beloved franchise, was Jurassic World, which earned $208.8 million.
Despite the enormous success, shares of Walt Disney (NYSE:DIS) have continued to fall Monday. Jefferies’ report indicated that the continuous slowdown of Disney’s ESPN business will hurt the company long term. The media segment is a major segment of Disney’s total revenue and slowing growth in the segment, along with the impact of increases in sports rights over the next several years, is likely to limit upside to the stock according to Jefferies.