1 / 28 Among the new characters in “Star Wars: Episode VII -- The Force Awakens” is Finn (John Boyega), who may or may not have the power of the Force. (Lucasfilm / Disney) 2 / 28 BB-8 pops up in “Force Awakens.” (Disney) 3 / 28 A firefight in the sky in “Star Wars: The Force Awakens.” (Disney) 4 / 28 “Star Wars: The Force Awakens” shows the back end of a new X-Wing. (Disney) 5 / 28 Daisy Ridley as Rey in “Star Wars: The Force Awakens.” (Disney) 6 / 28 John Boyega as Finn in “Star Wars: The Force Awakens.” (Disney) 7 / 28 Adam Driver as Kylo Ren in “Star Wars: The Force Awakens.” (Disney) 8 / 28 Rey (Daisy Ridley) speeds across the desert in “Star Wars: The Force Awakens.” (Lucasfilm / Disney) 9 / 28 Oscar Isaac as Poe Dameron and John Boyega as Finn in “Star Wars: The Force Awakens” (Disney) 10 / 28 Poe Dameron (Oscar Isaac) is an ace pilot in “The Force Awakens.” (David James / Lucasfilm) 11 / 28 Chewbacca and Han Solo (Harrison Ford) in “Star Wars: The Force Awakens.” (Lucasfilm / Disney) 12 / 28 R2-D2 and C-3PO are also returning in “The Force Awakens.” ( David James / Lucasfilm) 13 / 28 The villainous Empire of the original trilogy has been replaced by the sinister First Order in “The Force Awakens,” which takes place about 30 years after the events in 1983’s “Return of the Jedi.” (Lucasfilm / Disney) 14 / 28 The First Order displays its mght in “The Force Awakens.” (Lucasfilm ) 15 / 28 First Order stormtroopers are shown in a scene from “The Force Awakens.” (Film Frame / Associated Press) 16 / 28 Shown is Captain Phasma, played by “Game of Thrones” star Gwendoline Christie, in a scene from “The Force Awakens.” (Film Frame / Associated Press) 17 / 28 Domhnall Gleeson stars as General Hux in “The Force Awakens.” (David James / Associated Press) 18 / 28 Kylo Ren (Adam Driver) is another new villain in “The Force Awakens.” (Lucasfilm) 19 / 28 Kylo Ren (Adam Driver) wields his fancy new lightsaber in “The Force Awakens.” (Associated Press) 20 / 28 The Millennium Falcon is back in action in “The Force Awakens.” (Lucasfilm / Disney) 21 / 28 A dogfight takes place near what looks like the wreck of an Imperial Star Destroyer in “The Force Awakens.” (Lucasfilm ) 22 / 28 Rey (Daisy Ridley), left, the pint-sized droid BB-8, and Finn (John Boyega) make a break for it in a scene from “The Force Awakens.” (Film Frame / Associated Press) 23 / 28 The droid BB-8 and Rey (Daisy Ridley) cross paths with a scavenger named Teedo mounted on a Luggabeast in a scene from “The Force Awakens.” (David James / Lucasfilm) 24 / 28 Finn (John Boyega) runs past a crashed TIE fighter in “The Force Awakens.” (David James / Lucasfilm) 25 / 28 Finn gets a helping hand in a scene from “The Force Awakens.” (Film Frame / Associated Press) 26 / 28 Kylo Ren (Adam Driver) appears with stormtroopers in a scene from “The Force Awakens.” (David James / Lucasfilm) 27 / 28 A lightsaber changes hands in a trailer for “The Force Awakens.” Why didn’t this scene make it into the movie? (Lucasfilm) 28 / 28 A explosion hurls a stormtrooper in the air in “The Force Awakens.” (Lucasfilm)

When Walt Disney Co. put up $4 billion to buy “Star Wars” creator Lucasfilm in 2012, Wall Street wasn’t sure it was a good bet.

To some analysts, it seemed like a lot of money to pay for a company whose signature movie franchise had gone on hiatus following a trilogy that underwhelmed fans and ended seven years earlier.

“I remember when it happened, thinking, ‘Wow, what are they buying?’” JPMorgan analyst Alexia Quadrani said. “It was going to be several years before we’d even see the first film from that company.”


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Three years later, Quadrani and other analysts think that Disney got a bargain.

“They will make back their investment in a relatively short period of time,” said Robin Diedrich, an analyst at Edward Jones Research. “Whether it is three or four years — you can see that being a pretty reasonable scenario.”

“Star Wars: The Force Awakens,” which opens Friday, is expected to earn $1.5 billion to $2 billion in global box-office returns.


Four more films will roll out over the next four years. Add up all of those box-office receipts, plus merchandise, video games, theme park tie-ins and DVD sales, and the revenue tied to “Star Wars” could top $25 billion over the next five years, based on analyst estimates.

How much of that Disney will pocket is hard to calculate. Disney has not disclosed its own revenue projections for the films, nor has it said how it divides revenue with retailers, exhibitors, toy makers, video game developers and other partners.

Beyond the direct income, however, “Star Wars” breathes new life into Disney’s already mighty corporate empire, giving it new content and characters that it can pump through its many ventures. And it couldn’t come at a better time, with changing consumer habits buffeting the company’s lucrative television business.

Few companies have the breadth of businesses — theme parks, TV networks and a chain of retail stores — that Burbank-based Disney boasts.


“We know how to leverage or mine value from [intellectual property] probably better than any media company out there,” Disney Chief Executive and Chairman Robert Iger told The Times in an interview earlier this year. “And we have the ecosystem to do it, worldwide.”

Here are some key areas that stand to gain the most from “Star Wars.”

FULL COVERAGE: ‘Star Wars: Episode VII - The Force Awakens’

Film


“The Force Awakens” is expected to pull in $175 million to $250 million in the U.S. and Canada — and that’s just in its opening weekend. That would be unprecedented for a film premiering in December: The record holder for the biggest opening during the month is “The Hobbit: An Unexpected Journey,” which took in $85 million in domestic receipts.

An opening in the range of $200 million could put the film on a path to a $2-billion gross, a plateau reached by only two pictures: 1997’s “Titanic” and 2009’s “Avatar,” both by director James Cameron’s Lightstorm Entertainment. Analysts estimate that “The Force Awakens” and the four successive films could generate $5.5 billion or more at the box office.

“The Force Awakens” was directed by J.J. Abrams and stars series newcomers John Boyega, Oscar Isaac and Daisy Ridley alongside veterans including Harrison Ford. It follows three prequels released from 1999 to 2005, which disappointed many fans, tarnishing the franchise in some devotees’ eyes.


At least some analysts were skeptical of Disney’s Lucasfilm acquisition because the company wasn’t getting a key asset: the original 1977 “Star Wars” film. Theatrical and home video rights to that movie are held in perpetuity by 20th Century Fox. That company also retains rights to “The Empire Strikes Back” and “Return of the Jedi” until 2020, at which point they revert to Disney.

“That was one of the concerns that we had — it was, what are they actually buying if they are not getting that [original] film?” Quadrani said. “There was a concern Disney was putting all of its eggs in one basket — everything was hinging on if the company could make a successful new ‘Star Wars’ film. Now, however, given the trailer, all of the buzz and the huge merchandising hype we’ve heard about, there is definitely a positive bias that this will turn out to be a great acquisition.”

Merchandise

“Star Wars” already is a dominant force in the retail world, filling store shelves with action figures, backpacks, video games and more merchandise.


Analysts predict merchandise sales tied to “The Force Awakens” will range from $3 billion to $5 billion in the first year. And after five years, the total could be in the $11-billion to $20-billion range, experts say.

The shopping extravaganza got off to a strong start in September with Disney’s so-called Force Friday, which saw the release of about 500 items the day after the company conducted an 18-hour online event that was meant to generate buzz.

Consumer products consultant Lutz Muller said “Star Wars” is “probably the single biggest toy sales generator ever,” and Disney’s new offering has been “the most comprehensive roll-out” he’s seen.

1 / 46 “Star Wars: The Force Awakens” remote-controlled BB-8. (Hasbro) 2 / 46 “Star Wars: The Force Awakens” Class I Deluxe Vehicle - Rey’s Speeder (Hasbro) 3 / 46 3.75-Inch action figure of Poe Dameron from “Star Wars: The Force Unleashed.” (Hasbro) 4 / 46 “Star Wars: The Force Awakens” Risk. (Hasbro) 5 / 46 “Star Wars: The Force Awakens” Catch Phrase. (Hasbro) 6 / 46 “Star Wars: The Force Awakens” Role Play Mask - Stormtrooper. (Hasbro) 7 / 46 “Star Wars: The Force Awakens” Electronic Voice Changer Mask - Kylo Ren. (Hasbro) 8 / 46 “Star Wars: The Force Awakens” Class I Deluxe Vehicle - Assault Vehicle (Hasbro) 9 / 46 “Star Wars: The Force Awakens” Battle Action Millenium Falcon. (Hasbro) 10 / 46 “Star Wars”: The Black Series 6-inch figure - BB-8 and Rey (Hasbro) 11 / 46 “Star Wars: Force Awakens” 3.75 inch toys - C-3PO now with new red arm and R2-D2 (Hasbro) 12 / 46 “Star Wars: The Force Awakens” 3.75 inch figure - Unkar’s Thug and Teedo (Hasbro) 13 / 46 “Star Wars”: The Black Series 6-inch figure - Kylo Ren (Hasbro) 14 / 46 “Star Wars”: The Black Series 6-inch figure - Stormtrooper (Hasbro) 15 / 46 “Star Wars”: The Black Series 6-inch figure - Finn (Hasbro) 16 / 46 “Star Wars”: The Black Series 6-inch figure - Chewbacca (Hasbro) 17 / 46 “Star Wars: The Force Awakens” Hero Series Figure and Vehicle - Speeder Bike with Poe Dameron (Hasbro) 18 / 46 “Star Wars: The Force Awakens” Hero Series Figure and Vehicle - Assault Walker with First Order Riot Control Stormtrooper Sergeant (Hasbro) 19 / 46 “Star Wars: The Force Awakens” Class II Vehicle - Landspeeder (Hasbro) 20 / 46 “Star Wars: The Force Awakens” Class I Vehicle - Speeder Bike (Hasbro) 21 / 46 “Star Wars: The Force Awakens” Build-a-Weapon (3.75 inch) - Poe Dameron (Hasbro) 22 / 46 “Star Wars: The Force Awakens” Build-a-Weapon (3.75 inch) - Darth Vader (Hasbro) 23 / 46 “Star Wars: The Force Awakens” Build-a-Weapon (3.75 inch) - Constable Zuvio (Hasbro) 24 / 46 “Star Wars: The Force Awakens” Build-a-Weapon (3.75 inch) - Captain Phasma (Hasbro) 25 / 46 “Star Wars” Hero Mashers Deluxe Action Figure - Darth Maul (Hasbro) 26 / 46 “Star Wars” Hero Mashers Deluxe Action Figure -Admiral Ackbar (Hasbro) 27 / 46 “Star Wars” Hero Mashers Deluxe Action Figure -C3PO (Hasbro) 28 / 46 “Star Wars: The Force Awakens” Kylo Ren’s crossguard lightsaber. (Hasbro) 29 / 46 The Yoda lightsaber (Hasbro) 30 / 46 Luke Skywalker’s lightsaber (Hasbro) 31 / 46 Darth Vader’s lightsaber (Hasbro) 32 / 46 What appears to be a First Order Stormtrooper Helmet opens to become a desert planet playset, as Poe Dameron fends off a First Order Transporter. (Hasbro) 33 / 46 A desert planet playset opens from what was once a First Order Stormtrooper Helmet. (Hasbro) 34 / 46 The R2-D2 Playset opens to an arctic setting with Chewbacca under attack from a First Order Snowspeeder. (Hasbro) 35 / 46 An arctic setting opens from what was once an R2-D2 Playset. (Hasbro) 36 / 46 “Star Wars” Black Series Titanium Series - Y-Wing (Hasbro) 37 / 46 “Star Wars” Black Series Titanium Series - Tie Fighter (Hasbro) 38 / 46 “Star Wars” Black Series Titanium Series - Star Destroyer Finalizer (Hasbro) 39 / 46 “Star Wars” Black Series Titanium Series -Slave (Hasbro) 40 / 46 “Star Wars” Black Series Titanium Series -Rey’s Speeder Bike (Jakku) (Hasbro) 41 / 46 “Star Wars” Black Series Titanium Series -Resistance X-Wing (Hasbro) 42 / 46 “Star Wars” Black Series Titanium Series - The Millennium Falcon (Hasbro) 43 / 46 “Star Wars” Black Series Titanium Series - Luke’s Landspeeder (Hasbro) 44 / 46 “Star Wars” Black Series Titanium Series - Kylo Ren’s Command Shuttle (Hasbro) 45 / 46 Clockwise from top left: Poe Dameron’s X-Wing, the Millennium Falcon, TIE Fighter and Biggs Darklighter’s X-Wing (Hasbro) 46 / 46 “Star Wars” Black Series -First Order Special Forces TIE Fighter (Hasbro)


That’s important, Muller said, because a hit film doesn’t guarantee its corresponding consumer products push will be a success. He noted that “Avatar” and Disney’s “Alice in Wonderland” — both of which grossed more than $1 billion at the box office — left money on the table by delivering “not well-executed toys.”

But he said that Disney’s merchandising plan for “Star Wars” has been “excellent” — comprehensive in its scope and including many high-quality products.

“It is definitely outstripping any other license I have seen so far, ever,” said Muller, chief executive of Klosters Trading Corp.

Disney and major “Star Wars” licensee Hasbro declined to disclose sales figures for the new “Star Wars” merchandise.


The retail success of Disney’s “Frozen,” the top-grossing animated picture of all time, could illustrate how “Star Wars” will perform in the company’s hands. Two years after its release in theaters, “Frozen” is still paying dividends for Disney’s consumer product arm: The film’s merchandise sales were credited with helping boost the division’s operating income 10% to $416 million in the quarter that ended Oct. 3.

A new “Star Wars” video game developed by Electronic Arts already is one of the holiday season’s most popular items and should give a boost to Disney’s interactive business, which was recently merged with the company’s consumer products division.

“Star Wars Battlefront,” which was released in November on multiple platforms, is expected to sell 13 million units by the end of 2015, said Michael Pachter, analyst for Wedbush Securities. That translates to about $785 million in revenue, he said, of which Disney could keep in the range of $80 million to $100 million.

Also, the third iteration of the “Disney Infinity” action-adventure video game, which incorporates physical toys into the on-screen action, includes a “Star Wars” edition. Other games are expected to follow.


Theme parks

Disney’s theme parks also stand to benefit from an infusion of new “Star Wars” attractions and rides.

The company’s 11 parks draw millions of tourists annually. To keep the visitors coming, and to compete with rival Universal Studios, Disney must continually refresh its properties with new features. The parks and resorts division remains key to its bottom line, generating nearly one-third of the company’s revenue during its fiscal year that ended Oct. 3.

Earlier this year, Disney unveiled plans for “Star Wars"-themed lands that would open at Disneyland and one of its Florida theme parks in several years.


1 / 19 Stormtroopers pose in front of the Emirates Palace in Abu Dhabi, United Arab Emirates. (Twofour54 / EPA) 2 / 19 People wearing “Star Wars” costumes pose as they wait at the Grand Rex cinema in Paris for the French release of “Star Wars: The Force Awakens.” (Eric Feferberg / AFP/Getty Images) 3 / 19 People dressed in character pose outside the Grand Rex movie theater before a screening of “Star Wars: The Force Awakens"in Paris. (Michel Euler / Associated Press) 4 / 19 “Star Wars” fans attend the movie premiere of “Star Wars: The Force Awakens” in Medellin, Colombia. (Luis Eduardo Noriega / European Pressphoto Agency) 5 / 19 Fans attend the premiere of “Star Wars: The Force Awakenn” in Medellin, Colombia. (Luis Eduardo Noriega / European Pressphoto Agency) 6 / 19 Members of a “Star Wars” fan club attend a midnight premiere of ‘Star Wars: The Force Awakens’ at a cinema in Stuttgart, Germany. (Nikolai Huland / European Pressphoto Agency) 7 / 19 Fans dressed as Princess Leia, right, and an Imperial Storm Trooper arrive for a midnight screening of “Star Wars: The Force Awakens” at the Sony Center CineStar in Berlin. (Sean Gallup / Getty Images) 8 / 19 A fan at the midnight premiere of “Star Wars: The Force Awakens” in Stuttgart, Germany.” (Nikolai Huland / European Pressphoto Agency) 9 / 19 A member of Malaysia’s Star Wars Club dressed as Darth Maul before watching “Star Wars: The Force Awakens” at a cinema in Subang, outside Kuala Lumpur. (Mohd Rasfan / AFP/Getty Images) 10 / 19 A Malaysian Muslim woman poses for pictures with members of Malaysia’s Star Wars Fan Club before watching “Star Wars: The Force Awakens” at a cinema in Subang, outside Kuala Lumpur. (Mohd Rasfan / AFP/Getty Images) 11 / 19 A fan poses at a “Star Wars: The Force Awakens” event at Sydney Opera House on Dec. 10, 2015, in Australia. (Brendon Thorne / Getty Images) 12 / 19 Harrison Ford greets fans at a “Star Wars: The Force Awakens” event at the Sydney Opera House on Dec. 10, 2015. (Brendon Thorne / Getty Images) 13 / 19 A costumed “Star Wars” fan stands in front of hundreds of miniature Stormtrooper figures placed atop the Juyongguan section of the Great Wall of China during a promotional event for “Star Wars: The Force Awakens.” (Mark Schiefelbein / Associated Press) 14 / 19 A woman takes a picture of a scale model of the “Star Wars” Millennium Falcon spaceship displayed in a shopping mall in Hong Kong on Nov. 30, 2015. “Star Wars: The Force Awakens” opens in Hong Kong on Dec. 17. (Philippe Lopez / AFP/Getty Images) 15 / 19 A group of children dressed in Star Wars costumes play with fake light sabers in a cinema in Hong Kong. (Jerome Favre / European Pressphoto Agency) 16 / 19 A visitor walks past displays of R2-D2 and C3PO during a “Star Wars: The Force Awakens” event in Madrid. (Javier Lizon / EPA) 17 / 19 Kenyan actress Lupita Nyong’o, who was born in Mexico, answers reporters’ questions at a “Star Wars: The Force Awakens” event at a Mexico City mall on Dec. 8, 2015. The film opens in Mexico on Dec. 17. (Rebecca Blackwell / Associated Press) 18 / 19 A pedestrian walks past a store window filled with Stormtroopers as part of a “Star Wars"-themed Christmas display on Nov. 5, 2015, in Paris. (Pascal Le Segretain / Getty Images) 19 / 19 Actor John Boyega takes a selfie with, from left, actor Adam Driver, director J.J. Abrams and actress Daisy Ridley, plus a few dozen fans, during a promotional event for “Star Wars: The Force Awakens’” on Dec. 9, 2015, in Seoul. (Chung Sung-Jun / Getty Images)

Those two 14-acre “Star Wars” areas will significantly beef up the presence of the franchise at its parks and resorts, which are already home to popular “Star Tours” attractions.

The addition of “Star Wars” attractions to Disneyland and Hollywood Studios at Walt Disney World Resort in Orlando, Fla., could drive a new generation of visitors to those properties. Disney has not said when the attractions will open, although the projects are scheduled to break ground next year.

Television


The release of the new “Star Wars” film could also prove a salve for Disney’s television business, which has been hurt by cord-cutting and other changes in the media landscape. Last summer, Nielsen Media Research said that ESPN had lost about 3 million subscribers over the last year, which sparked a sell-off of media stocks on Wall Street in August.

“If growth is sputtering out, you need something to help smooth out that transition,” said Scott Krisiloff, chief investment officer at Avondale Asset Management, which is not an investor in Disney. “‘Star Wars’ can definitely play that role. But I don’t think — even if ‘Star Wars’ is a huge smash — it can overwhelm the potential negative head winds of ESPN.”

Disney’s media networks division, which includes television network ABC and cable channels ESPN and the Disney Channel, is the company’s most lucrative business. And “Star Wars” is already helping this division: An animated show, “Star Wars Rebels,” airs on Disney XD and was recently renewed for a third season. But analysts say it’s possible there could be more in the pipeline, if Disney’s Marvel strategy is any indication.

After Disney bought the comic book company in 2009 for $4 billion, it began releasing a series of successful superhero films, among them “The Avengers” and “Guardians of the Galaxy.” More recently, it has rolled out several live-action TV series that are populated by secondary characters from the Marvel cannon, among them the ABC hit “Agents of S.H.I.E.L.D.”


Disney could emulate that strategy with “Star Wars,” Diedrich said.

“If the movie does well, that would be the game plan,” she said. “It is a pattern that they would want to follow given the success they’ve had with Marvel [on TV].”

Of course, for all that money to be minted, “The Force Awakens” needs to be a smash hit.

“The success of the four successive iterations of this title are really dependent on how well this one does and how well it is received,” said Paul Dergarabedian, a senior media analyst at Rentrak, which does media measurement and research. “This title … really sets up the whole future. It is really important that this movie deliver on so many levels, both in terms of fan reaction and critical reaction.”


daniel.miller@latimes.com

Twitter: @DanielNMiller

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