3D box office of The Lion King  (and previous Imax re-issue in 2002) have been a major factor in growing its lifetime domestic BO by an additional 30 per cent since 1994 release, a significant revenue increment. Moreover, the 3D box office portion accounts for 20 per cent alone, as the most successful theatrical 3D re-issue to date. Disney's Nightmare Before Christmas in 2006 (2007, 2008) plus the Toy Story 3D double bill (first two titles in the franchise) in 2009 are the only two other 3D catalogue titles released in cinemas to date. Lion King's 3D box office success can be partially attributed to its original large and wide appeal and sufficient lapse since its first theatrical outing in 1994. There are now also a sufficient number of 3D screens for several titles to be released simultaneously, which was previously not available.

In 2009, the Toy Story (1 and 2) re-issue in 3D grossed just $30m in a limited theatrical run.  Although a lower overall BO result, the release performed another role by associating the franchise with 3D prior to next iteration in the franchise in 3D (Toy Story 3). Disney is employing similar strategy for Monsters Inc, with its re-issue in 3D, ahead of its 3D sequel, both in 2013.  The strategy paid off as Toy Story 3 was the top grossing domestic movie of 2010 and attracted a larger split of higher priced 3D tickets than other comparable genre releases that year.

Disney has to date lead the drive for theatrical re-issues in 3D (seven titles), but more recently Fox and Paramount have also been linked with releasing legacy conversions in 3D including Titanic, Star Wars and Top Gun, which are all scheduled for next year (2012). Catalogue 3D titles now comprise 12 per cent of the total 3D theatrical slate of over 40 titles scheduled in 2012. Their recent proliferation at this stage of the now mature 3D cinema market can be linked to recent technical improvements in 2D to 3D conversion quality (more specifically for live-action titles) as well as ongoing investment in growing 3D screen capacity, plus the launch of BD3D, which has until very recently been the missing link in the 3D movie value chain. Marketing costs can also be leveraged with a BD3D release, very shortly after a limited theatrical run.

The stronger than expected performance of Lion King has presented a strong business model for other titles to emulate. Studios will continue scouring libraries for further potential candidates and selection of titles will almost certainly hinge on  'legacy' value. The ability of the title to lend itself well to a more compelling 3D experience is also a factor, but perhaps not as big a concern as the actual quality of the 3D conversion itself, especially for library titles as studios will want to avoid alienating long standing fans. The cost of high quality 2D to 3D conversion can be considerable and the process intensive. Averages are reported to range at close to $10m for Disney's animations up to a high of $18m for Titanic, the latter taking over a year to convert. Animations will typically have a lower average budget based on simpler 2D to 3D conversion models.

However, studios will need to be remain sensitive to audiences' increasing discernment of non-value added 3D, which could reach tipping point if a large volume of similar titles flood the platform. However, there is clearly a demand among audiences to continue to  experience all-time great movies in new compelling formats.

The stronger than expected theatrical performance of Lion King 3D has also strengthened the business case for other prime library titles to be considered for 3D re-issue, as traditionally the home video market has been the primary earner for re-releases in new formats. This also has positive implications for BD3D, which has so far been constrained by a limited catalogue hinged around first run 3D releases. This situation was exacerbated further in the first six months when a high proportion of 3D titles were linked with hardware bundling deals rather than retail release. However, the scope for potential candidates for 3D re-issue is ultimately wider in the home and already a number of library re-issues have gone straight to this window including the Shrek franchise (although these remain among the few titles still only available through hardware bundles). These titles have significantly expanded the overall catalogue for BD3D, which currently stands at around 100 titles expected by end 2011 and in doing so have provided more incentive for consumers to invest in 3D hardware. However, with sales of 3DTVs and associated hardware still in early stages, it is likely that major titles will also be targeting a theatrical release to offset costs for the next few years.