WHAT’S THE STORY?

STAR Wars VII had its world premiere last night, marking the end of a decade-long (or 32-year-long depending on who you ask) wait for the latest instalment of George Lucas’ epic sci-fi series.

Disney’s announcement that it had bought the rights to the films back in 2012 sent shudders through the Force, with Star Wars fans long waiting in vain for Lucas to release episodes VII-IX, the sequels to the original trilogy.

The announcement that favourites Han Solo (Harrison Ford), Princess Leia (Carrie Fisher) and Luke Skywalker (Mark Hamill) would be returning in Star Wars: The Force Awakens gave hope to lifelong fans that the pain of Jar-Jar Binks would be wiped away.

British newcomers John Boyega and Daisy Ridley joined the cast for this latest instalment, set 30 years after the events in 1983’s Return of the Jedi.

The film was directed under the helm of JJ Abrams, so spoiler alert, it will likely contain camera flares.

Steven Spielberg has said the director is under a lot of pressure to deliver.

“JJ is terrified,” he told 60 minutes.

WHERE?

THE world premiere of the film took place last night, playing simultaneously across the TCL Chinese Theatre, the Dolby Theatre, home of the Oscars, and the El Capitan Theatre.

Hollywood Boulevard’s TCL Chinese Theatre hosted the premiere for the first Star Wars movie in 1977, known back then as Grauman’s Chinese Theatre.

Costumed fans had been lining up for days to secure their ticket to one of the biggest premieres ever launched in Hollywood.

Organisers of the camp-out had secured almost half the seats in the cinema to sell to people in the queue.

Die-hard fans had to queue for at least 24 hours to be eligible to buy a pair of tickets, while each additional 24 hours gave them the option to buy another ticket.

Press invited to last night’s screening in Los Angeles have been asked not to write any spoilers in their reviews, so fans in the UK will just have to wait till its premiere in London tomorrow.

WHO’S GOING TO GET RICH?

DISNEY is no stranger to acquiring the rights to major franchises at extraordinary prices. It took over Pixar in 2006 for $7 billion and Marvel in 2010 for $4bn.

Its acquirement of not just the rights to the films, but the merchandising of the Star Wars franchise for $4bn back in 2012 might seem like a steep number, but the company looks set to rake it in.

It methodically built up hype for its September launch of Force Friday, a launch, not of more snippets of movie content, but of more than 100 new Star Wars toys.

Analysts reckon that toy sales between Force Friday and the end of the year could reach up to $2bn in retail sales.

The year following last night’s premiere in Hollywood will see a further $5bn in franchise merchandise revenue, according to Tim Nollen, an analyst at Macquarie Securities.

With Disney receiving 10 per cent of these sales it seems the decision to shell out for the brand will pay massive dividends.

The merchandise is strong with this one.

THE WEIRD AND THE WONDERFUL

STAR Wars memorabilia has a long, and somewhat proud, history. An auction last weekend organised by Sotheby’s and eBay saw 600 rare Star Wars collectibles sold off to the tune of $505,202.

The items came from the private collection of Nigo, a Japanese designer and creative entrepreneur who began his collection decades ago.

An unopened packet of seven actions figures from The Empire Strikes Back was the most expensive item, sold at three times its estimate for $32,500.

Those hoping to add to their collections or even begin one, have a raft of weird, wonderful and just slightly odd Star Wars merchandise to choose from, including: A Han Solo in Carbonite Fridge – “Bringing new meaning to frozen in Carbonite” – $159.99 from Think Geek.

Adult Chewbacca slippers – “Keep your feet warm with Wookie power” – £15.95 from the Disney Store.

Light-up light sabre chopsticks – “An elegant utensil for a more civilised age” – $14.99 from Think Geek.

Luke Fry Walker – A Star Wars themed Mr Potato Head – $97.99 on Amazon.com.

AVATAR WHO?

WITH cinemas’ websites crashing in the run up to the film’s release it was reported that Star Wars: The Force Awakens had already made $50m in pre-ticket sales.

Its opening could rake in $180,000 according to BoxOffice.com’s Shawn Robbins, with other analysts projecting it could challenge Avatar, which drew in record $2.8bn globally.

Speaking to the Hollywood Reporter, box office analyst Phil Contrino said: “It’s in the same spot as Avatar, which played and played and played.

“Force Awakens will hit $1bn without blinking. If it’s really good, it could cross $2bn.”