Wakanda Forever matters to Disney, the media giant has had an unpleasant 2022. Its stock is down 42% until this point this year and this week was especially awful.
The company’s shares sank 13% on Wednesday after the company reported its streaming business lost $1.4 billion last quarter, despite growing its subscriber base beyond expectations.
The exhibition of “Wakanda Forever” likely won’t move the needle on Disney’s stock, given that investors remain heavily focused on the company’s streaming endeavors. But a strong showing from the film could help change the conversation.
A big opening weekend could also act as a bridge to another potential blockbuster for Disney next month: “Avatar: The Way of Water.” James Cameron’s long-awaited sequel to the highest-grossing film of all time opens December 16, and like “Wakanda Forever” could be a lucrative sequel to a beloved film.
“Momentum is everything in this business,” Dergarabedian said. “Movie theaters have been waiting for a film like ‘Wakanda Forever’ to remind people of the wonder and majesty of a great film on the big screen.”
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That, according to Dergarabedian, could “ignite a spark” that might set off a “chain of movie-going to carry forward to the end of the year and into 2023.”
