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The Wall Street Journal: ‘Jumanji’ proves to be a surprise hit for Sony Pictures

Three weeks into the new year, Sony Pictures is in an unfamiliar position: first place.

After a dismal five-year run, Sony Corp.’s SNE, +1.46%6758, +0.82% motion-picture business has outgrossed all competitors so far in 2018 thanks to a smash-hit sequel to a 1995 family film.

“Jumanji: Welcome to the Jungle” is No. 1 at the U.S. box office for the third weekend in a row, with an estimated $20 million. Its total worldwide gross is $768 million. The movie’s production budget was about $130 million, but thanks to tax credits in Hawaii and Georgia, where it was shot, it cost Sony just under $100 million, meaning it should be very profitable.

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