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Disney's presentation of Marvel's "Avengers: Endgame" has officially surpassed "Avatar" to become the world's highest-grossing film of all time, several months after the film obliterated opening weekend records.

Why it matters: The feat underscores Disney's position as the king of the box office. Disney has had the top grossing movie every year since 2012 and been the top grossing studio since 2016.

By the numbers: Disney has reported an estimated $2,790.2 million in revenue through Sunday for "Avengers: Endgame," per Comscore. James Cameron's 2009 science fiction film "Avatar" had previously held the top spot of the highest grossing global release of all time with $2,789.7 million.

The big picture: Disney's success can largely be attributed to the three franchises that it has cultivated or acquired over the past few years: Marvel, Pixar and Star Wars.

  • Including content from Disney studios, Disney properties represent roughly 40% of the revenue from the top 100 top-grossing films.
  • Many of these films and franchises were acquired by Disney via its acquisition of most of 21 Century Fox's entertainment assets last year. Ironically, the Avatar franchise now sits within the Disney family ("Avatar 2" is set for release in 2021.).
Expand chart
Data: Box Office Mojo; Chart: Andrew Witherspoon/Axios

Bottom line: Avengers' success speaks to the power of cinema in driving revenue and cultural relevance for film. At a time where streaming movies is growing in popularity, it's notable that a modern film has been able to still break through at the box office.

Go deeper

Updated 59 mins ago - Health

Texas to end all coronavirus restrictions

Texas Gov. Greg Abbott speaking at the White House in December 2020. Photo: Al Drago/Bloomberg via Getty Images

Texas will end its coronavirus restrictions next week with an upcoming executive order, Gov. Greg Abbott (R) announced Tuesday during a press conference in Lubbock.

Why it matters: After Abbott signs the new order, which rescinds previous orders, all businesses can open to 100% capacity and the statewide mask mandate will be over, though large parts of the state will remain under mask local ordinances.

Senate confirms Rhode Island Gov. Gina Raimondo as commerce secretary

Rhode Island Gov. Gina Raimondo (D). Photo: David L. Ryan/The Boston Globe via Getty Images

The Senate voted 84-15 on Tuesday to confirm Rhode Island Gov. Gina Raimondo to lead the Commerce Department.

Why it matters: The agency promotes U.S. industry, oversees the Census Bureau, plays a key role in the government's study of climate change through the National Oceanic and Atmospheric Administration, and evaluates emerging technology through the National Institute of Standards and Technology.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Health: CDC director warns "now is not the time" to lift COVID restrictions — Exclusive: Teenagers' mental health claims doubled last spring.
  2. Axios-Ipsos poll: Americans' hopes rise after a year of COVID
  3. Vaccine: J&J CEO "absolutely" confident in vaccine distribution goals — Vaccine hesitancy is shrinking.
  4. World: China and Russia vaccinate the world, for now.
  5. Energy: Global carbon emissions rebound to pre-COVID levels.
  6. Local: Florida gets more good vaccine newsMinnesota's hunger problem grows amid pandemic — Denver's fitness industry eyes a pandemic recovery.