Walt Disney Co. (DIS  ) achieved a significant milestone as its live-action "Lilo & Stitch" remake, alongside Tom Cruise's "Mission: Impossible - The Final Reckoning," propelled U.S. Memorial Day weekend box office receipts to a record-breaking $326.7 million.

What Happened: The combined performance of the top 10 films surpassed the previous Memorial Day record of $314.3 million set in 2013, according to Comscore ticket sales data from Friday through Monday, Reuters reported.

This achievement represents crucial momentum for theatrical exhibition as the industry continues recovering from pandemic-related disruptions and streaming competition.

Disney's "Lilo & Stitch" remake generated $156 million domestically and added $158.7 million internationally, reaching a global total of $314.7 million. The family-oriented film, featuring a star-studded cast including Zach Galifianakis and Courtney B. Vance, reimagines the 2002 animated classic about an alien companion adopted by Hawaiian sisters.

Paramount Global's (PARA  ) "Mission: Impossible - The Final Reckoning" contributed $78.5 million domestically while accumulating $205.5 million globally, with $127 million from international markets. The eighth franchise installment marks Cruise's anticipated final appearance as Ethan Hunt.

Warner Bros. Discovery Inc. (WBD  ) titles continued strong performance, with "A Minecraft Movie" reaching $940.6 million globally since April and "Sinners" totaling $339 million worldwide.

Why It Matters: The theatrical recovery gains significance as Disney's streaming platform JioHotstar recently added 230 million subscribers in three months, nearing Netflix Inc.'s (NFLX  ) 300 million global user base.

Price Action: Walt Disney Co. closed at $109.72 on Friday, down 1.27%. After hours, it dipped to $109.50, down 0.20%. Year to date, the stock is up 7.11%, but down 0.99% over the past year.

Walt Disney shows modest momentum and valuation, according to Benzinga Edge Stock Rankings, while demonstrating strong growth. The price trend remains positive across both short- and long-term periods.