Last week when Carl Icahn increased his stake in Lionsgate, saying its stock was undervalued, we thought, “Have you seen a media stock these days? Or any stock for that matter?” But we also added that Lionsgate seemed to be doing pretty well lately: it’s TV division has Mad Men and its movie division is making a killing, pun intended, on those Saw movies.
Indeed, the Saw franchise has been quite good to Lionsgate lately. And with this weekend’s $30.5 million haul for Saw V, the studio says the franchise is close to being the most successful horror series ever (beating the more numerous Friday the 13th and Halloween movies). So take that, Carl Icahn.
Excerpts from Lionsgate’s Press Release: Lionsgate, the leading next generation filmed entertainment studio and Twisted Pictures’ horror thriller Saw 5 scared up an estimated $30.5 million in 3,060 theatres this weekend at the North American box office, or $9,965 per location, on its way to becoming the top-grossing horror franchise of all time early this week, it was announced today by Lionsgate and Twisted Pictures principals Mark Burg and Oren Koules. The five Saw films have now grossed an estimated cumulative $316.2 million to date at the domestic box office and will pass the $317.8 million hauled in by the eleven Friday the 13th films tomorrow or Tuesday. The Saw franchise sliced past Halloween, whose nine films have grossed a cumulative $307.4 million, this past weekend.
The Saw franchise is already one of the most profitable in box office history. The original Saw cost only $1.2 million to make, and the franchise now has achieved worldwide box office of more than $550 million and combined worldwide theatrical and home entertainment grosses of more than $1 billion…
Lionsgate noted that the estimated $30.5 million opening weekend reflected a drop of only about 4% from last Halloween’s $31.8 million opening. Demonstrating remarkable consistency, the last four Saw installments have all grossed between $30 and $34 million on their opening weekends.
“The Saw franchise has found the perfect home at Lionsgate,” said Burg and Koules. “Lionsgate’s marketing and distribution team has established Jigsaw as part of our popular culture, and they continue to reinvigorate the Saw franchise in incredibly creative ways each year. There are very few constants in our uncertain world, but one of them clearly is — if it’s Halloween, it must be SAW.”
See Also: Lionsgate: Carl Icahn’s Next Target?
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