Sunday, November 8, 2015

Weekend Actuals: 'Spectre' and 'Peanuts' Take Flight as 2015 Box Office is Revived

     Although the #1 film debuted on the low end of expectations, it and second place still shook up nice debuts that brought the box office roaring back to life. They weren't the only shining stars of the weekend though, as a handful of limited releases raked in impressive numbers as well.
     Standing at the #1 spot is the 24th entry in the James Bond franchise, 'Spectre', which opened to a solid $70.4 million. That ranks as the second-biggest debut ever for a bond film, beating the $67.5 million debut of 'Quantum of Solace' and behind 'Skyfall''s $88.4 million opening ($90.6m if you count the Thursday grosses). Averaging out at $17,919 per theater, the $245-million spy film grossed $27.4 million on Friday, declined a slim 4.2% to gross $26.3 million, and fell 36.5% on Sunday to earn $16.7 million. That places the weekend-to-Friday ratio at 2.57-to-1, which is better than the 2.5x multiplier of 'Solace' but way behind the 2.9x multiplier of 'Skyfall'. Those films, however, only had to worry about the second weekends of strong animated openers, whereas 'Spectre' opened alongside one ('The Peanuts Movie', which we'll be getting to in a little bit). While this performance is still strong, it still opened on the low end of its pre-release expectations, which ranged from $72-$96 million.
     One factor that can be attributed to this is the critical reception the film received, which were very mixed (63% on RT) compared to 'Skyfall' (93%). Word-of-mouth, although not bad, isn't spectacular either, with a 70% Flixter score. CinemaScore users, however, have a different story, awarding 'Spectre' with an 'A-' rating. That is better than the 'B-' rating that 'Solace' got, and is essentially on par with the likes of 'Casino Royale' ('A-') and 'Skyfall' ('A'). 'Spectre' also didn't have the advantage of opening on the 50th anniversary of the series, and the social media activity never quite matched the might of 'Skyfall'.
     The question here is how the film will hold up in the coming weeks. Next week, competition isn't that bad, or at least not for 'Spectre', but on its third weekend it will have to go up against the very highly-anticipated 'The Hunger Games: Mockingjay - Part 2', and it might find some serious competition in the Rocky spin-off 'Creed', which is another nostalgic film. With a weekend multiplier that is a little bit better than 'Quantum of Solace', expect 'Spectre' to experience stronger holds and pass its $168.4 million domestic total. $185-$190 million total is likely, and while that would be $55-$60 million less than its production budget, it should still save a lot of face overseas where it has already earned $223.1 million.
     In second place, Fox's long-awaited family flick 'The Peanuts Movie' opened to a strong $44.2 million across 3,897 locations for a $11,345 per-theater average. That is on par with several other Blue Sky movies (such as 'Horton Hears a Who!' ($45m) and 'Ice Age' ($46.3m)) and in the general range of animated November openers. The closest comparison that comes to mind is 2006's 'Happy Feet', which opened to $41.5 million against 'Casino Royale''s $40.8 million. Both films experienced mostly similar daily holds throughout the weekend. Beginning with $12.1 million on Friday, 'Peanuts' increased a very strong 62.1% on Saturday to earn $19.6 million and declined 35.8% on Sunday to earn $12.6 million. That places the weekend-to-Friday ratio at 3.65-to-1, which is better than the 3.37x multiplier of 'Happy Feet'. It opened in line with expectations ($43m-$49m), which is a good sign going forward. It did better than 'Alvin and the Chipmunks' ($44.3m) and 'The Smurfs' ($35.6m), both of which were nostalgic family adaptations of existing animated properties.
     Strong reviews and word-of-mouth were likely two of the biggest reasons this film did so well. An 86% Rotten Tomatoes score and 87% Flixter rating, not to mention an 'A' CinemaScore, undoubtedly told families that this was a solid choice for the movies this weekend. Also, brand awareness was pretty high to begin with thanks to the annual Halloween, Thanksgiving, and Christmas Peanuts specials that families gathered around to watch. The $99-million comic adaptation should hold up well in the following weeks, with no noticeable competition until Thanksgiving when Pixar's 'The Good Dinosaur' stomps into theaters. Great legs are essentially guaranteed for 'The Peanuts Movie', and although it probably won't hold up as well as 'Happy Feet' (if so, it would get around $215 million!), $185 million is a very reasonable prediction.
     'The Martian' had to relinquish the top spot this weekend, but it still found a way to perform solidly this weekend. Dropping just 22.5%, the $108-million Ridley Scott directed Matt Damon led sci-fi grossed $9.1 million for a new $196.8 million total. It should get past the $200 million in the middle of the week, and $215 million by the end of its run.
     Despite competing with 'The Peanuts Movie' for family audiences, 'Goosebumps' held up well with $6.8 million, dipping 31.1% from last weekend. The $58-million Jack Black led horror comedy has so far made an impressive $66.3 million, and $80 million total should still be in reach.
     'Bridge of Spies' continued to hold up nicely, easing 30.4% and making $5.8 million. The $40-million Cold War thriller has brought in $54.7 million, and $65 million might be a possibility at this point.
     'Hotel Transylvania 2' didn't take as much of a hit as expected due to 'Peanuts', falling just 38.5% from last weekend and earning $3.6 million. With an impressive $161.3 million total, 'Transylvania' should still have enough gas left in the tank to get to $165 million.
     Although 'Burnt' had an admittedly respectable hold this weekend, dropping 42.3% from its debut, it still continued to disappoint with just $2.9 million. With a sad $10.1 million cume, 'Burnt' could finish in the $15 million range, which isn't a complete flop but still a major letdown.     
     'The Last Witch Hunter' dropped 49.7% from last weekend and grossed a $2.6 million, adding to its underwhelming $23.5 million domestic total. $26 million should be in reach by now.
     The $35-million Anne Hathaway / Robert De Niro led comedy 'The Intern' will just not slow down, dropping a small 27.8% and making $1.7 million. 'Intern' hasn't dropped any more than 38% in all of its weekends, helping it get to its current $71.3 million gross. $75 million would be a lock.
     Right before going on its VOD release, the $10-million R-rated horror 'Paranormal Activity: The Ghost Dimension' grossed $1.6 million, dropping 52.4%. So far, the film has grossed $16.3 million.
     The $28-million Sandra Bullock led 'Our Brand is Crisis' continued to bomb with just $1.4 million, down a sizable 56% from its debut. It has so far grossed a soft $5.9 million, and reaching $9 million total is going to be tricky.
     Rounding out the Top 12, 'Crimson Peak' fell a large 62.1% after losing 981 locations, grossing $1.2 million. Its domestic total currently stands at an underwhelming $29.8 million, and a $32 million final is in store for the gothic horror.
     Outside the Top 12, 'Steve Jobs' plummeted a ghastly 70.4% and made a meager $797.8k. With a shameful $16.3 million, getting to $18 million is going to be a challenge.
     Oscar hopeful 'Spotlight' brought up respectable numbers this weekend, playing in just 5 locations. It managed a strong $295k debut, representing a solid $59,002 per-theater take. The $20-million drama has received very strong reviews (96% on RT), and audiences obviously enjoyed the film as well (93% Flixter score). Another strong performer in limited release is 'Brooklyn', which made a solid $187.3k for a per-theater average of $37.5k. The $10-million period drama opened on Wednesday, and since then earned a respectable $243.7k and has benefited from encouraging reviews (99% RT score) and word-of-mouth (92% Flixter). Also experiencing a solid opening in 5 locations was the biographical drama 'Trumbo', which grossed $74.2k, eking out a $14,835 average. 'Trumbo''s performance, although solid, could have been better had it not been for modest reviews (67% on RT) and audience reception (69% on Flixter).
     The Top 12 this weekend rebounded after the dreadful Halloween weekend, rocketing 141.5% and grossing $151.4 million. It is also up an encouraging 3.2% from last year when 'Big Hero 6' and 'Interstellar' opened to $56.2 million and $47.5 million, respectively.
     Next weekend should be a bit slower, with the likes of Christmas Comedy 'Love the Coopers', mining drama 'The 33', and football drama 'My All American' all opening in wide release, while the Angelina Jolie / Brad Pitt collaboration 'By the Sea' debuts in 10 locations.
    

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