Super Mario Bros has definitely been the unexpected hit of the 2023 box office so far. As an unpredicted side effect of this exceptional launch for the Nintendo franchise, we have now seen share prices for a range of top theatrical chains pop too. Entertainment lawyer from Blake & Wang P.A, Brandon Blake, takes a closer look at the news.
AMC Receives a Welcome Boost
Despite it’s now infamous ‘memestock’ boom, the AMC share price has been languishing as the box office recovery stalled at the end of 2022. Off the back of the surprisingly solid performance from Super Mario Bros, however, it saw a 7%, or 35c, boost to its share price. Cinemark achieved a similar benchmark. IMAX, which is one of the few theatrical chains to have seen very little disruption from the pandemic shutdowns, also saw a 5% ($1.05) jump. For Imax in particular, Super Mario Bros has also brought it the top opening of all time in the animation category, earning about $375.6M of the global takings for the film.
While the boost won’t manage to offset the pandemic disruptions entirely, the rise in stock prices will doubtless help the chains struggling with heavy debt after the pandemic closures. It isn’t a full return to pre-COVID numbers, but it is certainly a welcome breather.
The Video Game Surprise
And unlike the successes of films like Top Gun:Maverick and Avater:The Way of Water, this boom is rather unexpected. Historically, video game franchises like Super Mario Bros have not played well to audiences, and this may well be the first truly successful video game IP we’ve seen in a long time.
While a slump in product could still seriously impair the wider box office recovery, and with a slate that’s still smaller than is needed set for 2023, it’s another welcome sign that fans are keen to return to the theatrical experience. And that’s good news for the whole industry.
Film and Television 