Tuesday, August 12, 2014

Weekend Box Office Report: "Turtles" Rule with Huge Opening...

August is proving to be a strong month, with business ahead of the same weekend last year by 15%...that was when Elysium and We're The Millers opened with a combined $57 million.

Teenage Mutant Ninja Turtles film July 2014 poster.jpgNo one saw this coming. Even with Guardians of the Galaxy dominating last week, Teenage Mutant Ninja Turtles opened huge, and way above expectations. The sci-fi flick opened to a huge $65 million, averaging a huge $16,905 from 3,845 locations. Expectations were around $40-$45 million for this entry, as pre-sales outpaced both G.I. Joe movies and buzz was very solid. I think the lack of appealing options for family audiences (only Maleficent has truly been the success story among family films this summer) caused some kids (especially boys) to come out in droves. Also, given the 20-year old franchise's recent rebirth on TV, it caused excitement for this to resurge. But, this really is (so far) the surprise of the summer by far. Competition is fairly small for the rest of the summer (The Giver and If I Stay may take away some teenagers). Despite a mixed to negative reception overall (20% on Rotten Tomatoes, "B" CinemaScore), this one still looks poised to finish with at least $150 million domestically, and could pass $200 million if weekday business is strong.


Turtles got off to a strong $29 million start internationally from around 15 markets. If it plays well, a worldwide gross between $400 and $500 million is likely.

Even with the worst possible competitor, Guardians of the Galaxy held on fairly strong. Marvel's latest fell 55% to $42.1 million, for a 10-day pick-up of a strong $176.5 million. Thanks to huge weekday business, Galaxy is outpacing Captain America: The Winter Soldier and Transformers: Age of Extinction through the same point. The 55% drop is also the lightest second weekend drop (outside of Maleficent) for a movie this summer so far. At this point, a finish above $250 million is guaranteed, and it might take the top spot for the year ahead of its fellow Marvel movie.

Into the Storm 2014 film.jpgOpening in a distant third place with mediocre results was disaster flick Into the Storm. The third and last of the effects-driven actioners pulled in $17.3 million, for a per-venue average of a mild $5,051 from 3,434 locations. That's in line with expectations, but its nothing to get too excited about. Into the Storm opened in a very competitive timeframe, and despite an aggressive marketing effort from Warner Bros., its' opening was at the very low end considering effects-driven movies like this. Reviews were horrible, while audiences gave it a "B" CinemaScore. The Expendables 3 will likely steal some audience next weekend, and these types of films don't usually hold well in the long run. Overseas may save it, and the budget was only $50 million, so the overall financial exposure was fairly limited here.






The Hundred Foot Journey (film) poster.jpgFaring a little better in fourth place was book adaptation The Hundred-Foot Journey, which managed $11 million. That translates to an OK per-venue average of $5,427 from 2,023 locations. That's in line with expectations, but its not a particularly impressive debut, as its only a small tick up from somewhat similar Disney movie Million Dollar Arm from earlier this year. Considering Steven Spielberg and Oprah Winfrey were involved, this could have done more. But, reviews were pretty solid (65% on Rotten Tomatoes), and it earned an "A" CinemaScore. With little competition for families and adults for the remainder of the summer, look for this to hold strong in the next few weeks. The budget was a fairly small $22 million, though marketing was fairly pushy.






Continuing to descend quickly due to mixed word-of-mouth, Lucy fell 48% to $9.5 million, for a still very solid $97.5 million pick-up in 17 days. The Scarlett Johannson pic is on track for a finish around $120 million, with overseas traction starting to pick up.

The last new opener debuted disappointingly in sixth. Step Up All In, the fifth installment in the seemingly popular dance franchise, only managed $6.5 million, averaging a very light $3,123 from 2,072 locations. The previous entry, Step Up: Revolution, earned $11 million in its debut on its way to $35 million stateside. All In is doing very solid business internationally ($40 million already in 2 weeks), but this kind of drop off is a painful reminder of sorts to the fanbase that this franchise has run its course.

Holding better than last time, Hercules did keep more than expected in the face of Turtles. The Dwayne Johnson pic fell 48% to $5.7 million, for a $63.5 million gross in 17 days. Its still not a success story by any means, as it remains on track for around $70-75 million total. But overseas is helping it break even.

Surprisingly, Get On Up didn't hold up well, at all. Despite strong reviews, it appears the competitive marketplace (The Hundred-Foot Journey may have had something to do with it?) has gotten the best of it. The James Brown biopic fell 62% to $5.2 million, for a disappointing $23.1 million gross in 10 days. Looks like this one will not be the next Butler or even 42. Instead, look for just an acceptable finish in the $30-35 million range.

Dawn of the Planet of the Apes is starting to wind up its run, and fell 50% to $4.3 million in the midst of the competition. The sci-fi actioner is at a strong $197.8 million pick-up in one month of release and will close safely above the $200 million mark, but won't go much further. Dawn passed the $500 million barrier worldwide this weekend.

Rounding out the Top 10 was Planes: Fire and Rescue, which took a huge hit from Ninja Turtles. The animated sequel was off 59% to $2.5 million, for an OK $53 million pick-up in 24 days. The sequel, while still making a few bucks for Disney in the end, is further proof how the family market hasn't had a great year so far.

That's it for this weekend. All eyes are on whether the record-breaking August will continue to reverse summer's woes. Will The Expendables 3 defy all odds against it? And will Lets Be Cops and The Giver be able to break out despite only so-so expectations?