We wondered, back on Friday, just what kind of impact the “Glicked” effect would have when it hit weekend box office figures, and as it turns out, the effect was somewhat mixed. With Paramount ($PARA) up over 2% in Monday afternoon’s trading and Comcast ($CMCSA) down fractionally, the impact turned out to be, perhaps, less than expected.
When Paramount and Comcast rolled out Wicked and Gladiator II in the same weekend, moviegoers wondered if there would be a similar impact to the release of Barbie and Oppenheimer, which was dubbed “Barbenheimer,” as many patrons simply went to see both movies in the same weekend. A similar effect was hoped for for “Glicked,” though the response was ultimately mixed.
Back on Friday, projections for the opening weekend were between $65 million and $75 million for Gladiator II and between $120 million and $140 million for Wicked. Both films ultimately fell short of these projections, noted a CNBC report, as Wicked brought in just $114 million, and Gladiator II took in $55.5 million. Thus, ”Glicked” was hardly a “Barbenheimer” redux, no matter how much Comcast and Paramount wanted it to be. Still, theaters were certainly glad to see it, as current box office totals are down about 11% from what they were this time last year.
Already Talking Oscars
So, while “Glicked” is not a “Barbenheimer,” some are already looking to Oscar season to pick up some of the slack. But there will be a high bar to entry here as well; a report from Vulture noted that “Barbenheimer” pulled in a total of 21 nominations and eight wins. Oppenheimer took home Best Picture that year. But how does “Glicked” look to stack up here?
Vulture‘s projections suggest that “Glicked” could be a surprise. It may not match “Barbenheimer,” but with what Vulture calls a “strike-marred season,” there could be enough support for either to make some wins. Gladiator II, in particular, may appeal to the “meat-and-potatoes” voters sufficiently to get it nods, while Wicked‘s Broadway connections could drive support as well. For Comcast and Paramount, this would be good news in and of itself.
Which Movie Stock Is the Better Buy?
Turning to Wall Street, the leader among these two remains CMCSA, a Moderate Buy-rated stock that offers investors a 14.41% upside potential against an average price target of $49.47 per share. PARA, meanwhile, remains the laggard, as this Hold-rated stock with an average price target of $12.56 per share can only muster a 12.8% upside potential.
