And there’s something for everyone including the relationship comedy "Four Christmases," the action packed "Transporter 3," the epic romance "Australia," as well as the Oscar hopeful "Milk."
“The industry is really trying to come out swinging,” said Barclay’s analyst Anthony DiClemete on Fast Money.
"The thing about holiday movies, as usual, is that there really does seem to be something for everybody," added Dave Karger, movie writer for Entertainment Weekly magazine.
Already, the box office is on a roll with the latest James Bond flick "Quantum of Solace" and teenage vampire romance "Twilight" beating expectations two weekends in a row. Each took in about $70 million their respective opening weekends.
Paul Dergarabedian, president of box office watcher Media by Numbers, noted that only one weekend in the past two months has seen ticket sales dip from the same time last year.
"Momentum is with us, and momentum is key because the more people are in theaters, the more they see (promotion) trailers and marketing materials. It's a snowball effect," he said.
That bodes well for the move theaters, but a large percentage of Hollywood’s profits come from elsewhere. “My concerns are with homevideo,” adds DiClemente. “Are people going to pay $35 for a blu-ray DVD? I’m cautious.”
I own Disney and I like Disney, adds Jeff Macke. But it’s a best of breed trade.
At $20 or less I strongly recommend Disney stock, adds Joe Terranova.
Hollywood In A Recession?
Total Gross Avg. Ticket Price #of Movies
2008 $8.59B $7.08 557 (YTD)
2007 $8.61B $6.88 631
Source: Box Office Mojo
What's the bottom line? If the rule holds true that escapist movies do well in tough times, the gloomy economy could bring glad tidings for Nicole Kidman, Hugh Jackman, Keanu Reeves, Will Smith, Jim Carrey and many others!
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Trader disclosure: On Nov. 28, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders;
Macke Owns (MSFT), (UUP), (GM), (TM), (WMT); Kinahan Owns (CL), (GM), (HD), (JCP), (WFC), (XLF), (YHOO), (AAPL); Dennis Gartman Owns (AAPL); Gartman Owns a Natural Gas Trust; Dennis Gartman Is Short (KSS); Terranova Is Long (DIS)
Terranova Is Co-Portfolio Manager Of The Virtus Diversifier PHOLIO: rtus Diversifier PHOLIO Owns (IGE), (DBC), (DBV)
Terranova Is Chief Alternatives Strategist Of Virtus Investment Partners, Ltd.: Virtus Investment Partners Owns More Than 1% Of (ABD), (ARE), (BIG), (CLB), (DLR), (EPR), (EXR), (MAC), (SLB), (SKT), (UA), (IGE), (DBC), (DBV); Virtus Investment Partners Owns More Than 1% Of Seagate Tax Refund Rights; Virtus Investment Partners Owns More Than 1% Of Shares Of Essex Property Trust Inc.; Virtus Investment Partners Owns More Than 1% Of Shares Of Corporate Office Properties Trust SBI MD
Barclays Capital And/Or Lehman Brothers Inc. And/Or Affiliate Have Received Investment Banking Compensation From (CBS), (DIS), (TWX) In Past 12 Months
Barclays Capital And/Or Lehman Brother Inc. And/Or Affiliate Have Received Non-Investment Banking Compensation From (CBS), (DIS), (TWX) In Last 12 Months
(CBS), (DIS), (TWX) Are Or In Past 12 Months Have Been Investment Banking Clients Of Barclays Capital And/Or Lehman Brothers Inc. And/Or Affiliate
(CBS), (DIS), (TWX) Are Or In Last 12 Months Have Been Non-Investment Banking Clients (Securities Related Services) Of Barclays Capital And/Or Lehman Brothers Inc. And/Or Affiliate
An Analyst On The Coverage Team Owns (DIS)
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