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Hobbit Reaches $500 Million in Global Box Office

The Warner Bros. movie “The Hobbit: An Unexpected Journey” has earned more than $500 million in worldwide box office. The movie was produced by MGM and New Line Cinema, with Burbank-based Warner Bros. handling worldwide theatrical distribution. In a joint announcement on Thursday, the studios said that “Hobbit” has earned nearly $180 million domestically and an estimated $344 million overseas for a total of $524 million. The film was released in the United States on Dec. 14 and ranks twelfth this year at the domestic box office. “These fantastic box office numbers demonstrate that the film’s playability has no borders,” said Veronika Kwan Vandenberg, president of international distribution at Warner Bros., in a statement. “Hobbit” is the first of three films based on a novel by the late British author J.R.R. Tolkien. The film is directed by Peter Jackson, who also directed the “Lord of the Rings” trilogy based on Tolkien’s books. It stars Ian McKellen, Cate Blanchett and Elijah Wood. Shares of Time Warner Inc., parent of Warner Bros., lost 6 cents, or less than 1 percent, to close at $47.42 on the New York Stock Exchange.

Joel Russel
Joel Russel
Joel Russell joined the Los Angeles Business Journal in 2006 as a reporter. He transferred to sister publication San Fernando Valley Business Journal in 2012 as managing editor. Since he assumed the position of editor in 2015, the Business Journal has been recognized four times as the best small-circulation tabloid business publication in the country by the Alliance of Area Business Publishers. Previously, he worked as senior editor at Hispanic Business magazine and editor of Business Mexico.
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