Pricey movie sequel “Avatar: The Way of Water” topped $2 billion in global box office receipts on Sunday, sealing its spot as another hit franchise for the Walt Disney Co. | Reuters
Disney has not disclosed the movie’s budget, but the Hollywood Reporter said it cost at least $350 million to produce plus marketing costs. Studios split ticket sales with theaters.
“Avatar” was touted as one of the jewels in Disney’s $71 billion purchase of 21st Century Fox assets in 2019, a property it could elevate alongside Marvel and Star Wars. Activist investor Nelson Peltz, who is seeking a seat on the Disney board, has argued that the company paid too much for Fox. The original “Avatar” enchanted audiences with groundbreaking visuals that told the story of Pandora’s blue, 9-foot-tall Na’vi people. The 2009 movie remains the highest-grossing film in history with $2.9 billion in global ticket sales.
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