Sunday, August 12, 2018

Weekend Box Office Report: "Meg" A Way Bigger Box Office Monster Than Expected...

Overall, it was fantastic business for late-summer, as overall grosses powered ahead of the same weekend last year by 24%, which was led by the $35 million debut of Annabelle: Creation.


The Meg.pngThe excitement didn't seem to be there for this flick. But Warner Bros. managed to pull off this trick, as their shark flick The Meg way outperformed expectations. The last major action flick for the summer managed to pull in $44.5 million in its debut (strong $10,806 per-venue average), ahead of many expectations which ranged from $20-25 million initially. The big question is, how was it able to get audiences into seats? Jason Statham? Certainly not the reviews (they were down the middle at 49% on Rotten Tomatoes, while the CinemaScore was a B+). There are a couple of possible reasons. One, Warner Bros. really marketed the heck out of this pic to get awareness and anticipation high (keeping the film PG-13 helped bring in younger crowds too). Second, shark movies are apparently in season right now (The Shallows and 47 Meters Down were both box office hits on a smaller scale, while Sharknado and "Shark Week" remain popular on TV). In the end, while I don't expect Meg to have long legs, it should pull in audiences through the remainder of the summer.


Overseas numbers were promising too. Thanks to a $50 million debut in China, the worldwide launch is at $141 million. The Meg is definitely hoping to capitalize overseas, as Warner Bros. basically spent the same on marketing as it did producing the picture ($140 million). The studio may not have been expecting huge numbers here, but they have to be thrilled that they basically doubled tracking. For the studio, this is their biggest debut of 2018 so far just ahead of March hit Ready Player One ($42 million), as they prepare to debut their big plays over the holiday season.

After topping two-straight weeks, Ethan Hunt and company fell to the runner-up position, but still continued to hold well. Mission: Impossible - Fallout was off just 43% in its third weekend to $20 million, for a strong $162 million pick-up in 17 days. In comparison, Rogue Nation was off 40% in its third weekend and had earned $138 million through the same point. Fallout also passed $400 million worldwide over the weekend, with plenty more to go.

In third place, Christopher Robin fell 49% in its second frame to $12.4 million. Disney's latest live-action reboot has earned a mild $50 million in 10 days. The decline is similar to the 48% drop Pete's Dragon had back in 2016. It seems that audiences may have rushed out last weekend to see this one. Overseas, the Pooh flick is rolling out slowly, with $12 million earned so far. Hopefully it will hold better heading into Labor Day.

Opening in fourth place with very good results was Slender Man. The long-in-production horror flick managed $11.3 million, in line with most expectations (solid $4,803 per-venue average). This is above average for the genre, though its' not to the level of The First Purge (which is on track for a $70 million finish). On a budget of $10 million, this should end up being decently profitable for Sony and Screen Gems. On the downside, reviews were terrible (15% on Rotten Tomatoes), while audiences slapped it with a foul "D-" CinemaScore. This will likely fade fast from theaters.

Meanwhile, the biggest surprise was fifth place. Director Spike Lee opened his prestige project, BlacKkKlansman, which overperformed big-time. The critically-acclaimed yet controversial flick pulled in a strong $10.8 million (great $7,142 per-venue average), ahead of the $4-6 million initially projected. A big win for distributor Focus Features, the film benefited from rave reviews (97% on Rotten Tomatoes), while audiences gave it an "A-" CinemaScore. The budget was a light $15 million, which indicates the film should be profitable.

After a meh debut last week, The Spy Who Dumped Me fell 46% in its second weekend to $6.6 million. The female spy comedy has picked up a mediocre $24.6 million in 10 days, on track for a finish around its $40 million budget. Of course, with marketing costs not included, it won't be enough to put it into the black. Faring far better in seventh was another female-led film, Mamma Mia! Here We Go Again. The musical sequel had its best hold yet in its fourth frame, off just 35% to $5.8 million, for a very good $103.8 million pick-up in 24 days. Look for the musical to end its run close to $120 million, down about 15% from the first film. On a more negative note, however, its' almost at $300 million worldwide, which is only half of the $600 million the original grossed.

The Equalizer 2, meanwhile, has continued to find some later-in-the-game stability. Denzel Washington's latest was off just 37% in its fourth weekend to $5.5 million, for a very good $89.6 million pick-up in 24 days, or the same result as the first film through its fourth weekend. It should match or get a little ahead of the original's $101 million final gross, which is a rarity for sequels nowadays. Distributor Sony has had a good summer, as fellow sequel Hotel Transylvania 3: Summer Vacation was off just 36% in its fifth weekend to $5.1 million. The threequel is at $146.9 million in one month of release, or around the same as what the second film had by the end of its fifth weekend ($148 million). It's also approaching $400 million worldwide.

Rounding out the Top 10 in its sixth weekend was the latest Marvel flick, Ant-Man and the Wasp. The superhero sequel was off 36% to $4 million, for a very solid $203.5 million in 42 days, where it should add about another $10 million or so. It's also at $450 million worldwide, on its way to maybe $600 million as China and Japan have both yet to open.

Meanwhile, Incredibles 2 continued to hold well as it bowed out of the Top 10. It's getting within spitting distance of $600 million stateside, while worldwide it ranks 23rd on the all-time list with $1.088 billion so far, on its way to over $1.1 billion by the time its done. Jurassic World: Fallen Kingdom will pass Frozen today for 12th place on the worldwide list, as it has earned $1.276 billion so far, and could reach $1.3 billion as it continues to play well in Japan. Finally, Dog Days came in below expectations with just $2.6 million (terrible $1,077 per-venue average, and $3.7 million since its Wednesday start) in 12th place. The PG-rated film was produced on a $10 million budget and had mixed reviews (60% on Rotten Tomatoes, audiences awarded it an "A-" CinemaScore).

That's about it. Next weekend, two different movies will hope to take down Meg. Book adaptation Crazy Rich Asians opens Wednesday, followed by Mark Wahlberg's action flick Mile 22 and survival thriller Alpha on Friday. It's sure to be another exciting weekend, stay tuned for predictions on Wednesday. :)