Disney used the force, and it was one to be reckoned with. After making moves to acquire countless franchises, the company’s decision to buy the rights to Star Wars looks set to pay off, with shares in the Walt Disney Company jumping by almost $2bn (€1.85bn) yesterday – all because of the new trailer for Star Wars The Force Awakens.
Trading on the New York Stock Exchange, the house of mouse ended trading on Thursday with a market cap of $183.7bn (€170.4bn), with the trailer pushing up shares by more than one percent – close to $2bn.
On the Right Hook this evening, George will be talking the incredible influence of movie economics with film critic Stephen Benedict.
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The ninety-second trailer, essentially just an extended teaser of the seventh episode of the George Lucas-created franchise, was unveiled at the Star Wars Celebration event in Anaheim, California. It came after a briefer teaser was released by LucasFilm and Disney in December, garnering more than 50m views in the space of two days.
At that time, Disney shares were valued at $92.51, with the highest analyst price target set at $106. Now, just four months later, Disney’s share price eclipsed that high-end estimate, with the stock price being $15 dollars more than it was, and its high-end estimate $18 higher.
Disney acquired the rights to Star Wars in 2012, forking over $4bn. Since then, the company has announced three more movie sequels to the six original titles, as well as at least two stand-alone spin offs.
Without having even sold a single ticket for one of its features in the canon, with the release of The Force Awakens not due until Christmas time, Disney looks set to net a small fortune, once predicted record-breaking box office and merchandising sales are tallied.
