Weekend Wrap-Up for July 2-4, 2010
Total Eclipse of the Box Office
By Kim Hollis and David Mumpower
July 4, 2010
Toy Story 3 is also all but certain to become Pixar's biggest release ever, beating Finding Nemo's $339.7 million. The Academy Awards buzz is already starting for the instant animated classic, particularly since the first half of 2010 has been awfully low on potential candidates for Best Picture, as Entertainment Weekly detailed in their latest issue.
The star-power-driven tandem of Grown Ups and Knight & Day rounds out the top five this week. Last weekend’s new releases experienced similar fates over the holiday weekend. Sony’s Grown Ups fell 54% from its solid $40.5 million debut to an estimated $18.5 million. This is a better hold than Adam Sandler experienced with his most recent release, Funny People, a movie that fell 65% in its second frame and was already in single digits by that point. It is right in line with other Sandler movies that opened to a similar scale such as Click (50.2%), The Longest Yard (45.2%), 50 First Dates (48.7%), and You Don’t Mess with the Zohan (57.5%). With a running total of $77.1 million, Grown Ups is a slam dunk to become Sandler’s 11th (!) $100 million blockbuster.
Meanwhile, Tom Cruise is angling for his 16th $100 million winner (17th if you count his cameo in Austin Powers in Goldmember, which we clearly do not) and he will have to keep on trying. The spy thriller that reunites him with Vanilla Sky co-star Cameron Diaz fell 49% this weekend from $20.1 million to $10.2 million. After a dozen days in release, the Fox release has a running tally of only $45.5 million against a production budget of $117 million. It will fall far short of the $100.6 million that Cruise and Diaz managed together in their prior union. The good (ish) news here is that both stars are popular abroad with the film’s international receipts thus far almost mirroring its North American tally. It may yet prove to be a profitable project, albeit nowhere near what was anticipated for the project.
Sixth and seventh go to two '80s remakes that have been oddly linked since their release on June 11th, The Karate Kid and The A-Team. As has been the case throughout their theatrical runs, The Karate Kid easily outperformed The A-Team, earning a decent $8 million. This is a 49% drop, but again, this number is good enough to tie Toy Story 3 and Knight and Day as the best hold in the top ten. So far, the Jaden Smith/Jackie Chan kung fu movie has earned $151.5 million, well ahead of its $40 million budget. As for The A-Team, it fell 51% to $3 million, bringing its overall domestic total to $69.1 million. Its profitability situation is quite different than The Karate Kid's since the budget for The A-Team was a bloated $110 million. The film is probably going to be okay once international receipts and home video are added in, but a franchise starter this is not.