
Why Recessions Forge Great CEOs Who Think Beyond Cost-Cutting
But the CEOs who make history in downturns aren’t the ones with the deepest cuts
August 17, 2021: -Walt Disney’s “Free Guy” tallied over $28 million at the domestic box office during its opening weekend, smashing expectations.
The 20th Century Studio’s film, stars Ryan Reynolds, was forecast to garner amid $15 million to $20 million in its first three days. With $22.5 million from international ticket sales, the film secured nearly $51 million globally.
Positive word of mouth led “Free Guy” to see a 24% spike in ticket sales amid Friday and Saturday, most of any tentpole released this summer. According to Reynolds, the film’s performance seems to have pleased Disney, reportedly interested in creating a sequel.
″After years of messaging as an original IP movie, Disney confirmed today they officially want a sequel,” the actor wrote on Twitter on Friday.
Box office analysts were watching “Free Guy’s” release, as its theatrical-only release and original concept would be a barometer for the strength of the theatre industry of movies.
Most high-profile films with a theatrical-only release like Universal’s “F9” and Paramount’s “A Quiet Place Part II” are part of established film franchises, giving them a ready-made fan base.
Likewise, it’s been complicated with hybrid releases, like Warner Bros.′ “The Suicide Squad,” determines if ticket sales were hurt because of the pandemic or due to the film was available to stream at home.
“In the latest box-office release model stress test, ‘Free Guy came out a winner,” said Paul Dergarabedian, senior media analyst at Comscore.
Dergarabedian said around 86% of theaters were open compared to 2019, the highest of any weekend since March 2020.
“The film offers up proof that even in this challenging marketplace, movie theater exclusivity pays dividends not only in the opening weekend but over the long haul,” he added.
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But the CEOs who make history in downturns aren’t the ones with the deepest cuts
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