Weekend Wrap-Up: New Releases Treated Despicably
July 15, 2013
There were two strong new releases this week, but Despicable Me 2 remained on top, even though it fell a little faster than expected. Grown Ups 2 was further evidence that bad reviews actually help Adam Sandler movies. Finally, Pacific Rim struggled, at least compared to its massive production budget. Overall, the total box office was $194 million, which is 15% lower than last weekend. However, last weekend was a holiday weekend, so this is a good hold. Compared to last year, the overall box office was 17% higher, which is a great result. Year-to-date, 2013 is still behind 2012, but by less than 1% at $5.81 billion to $5.86 billion. Unfortunately, next weekend 2013 will have to go against The Dark Knight Rises, so 2013 will likely lose a lot of ground.
Despicable Me 2 fell a little faster than expected down 48% to $43.89 million for a total of $228.38 million after twelve days of release. This is already enough to cover its entire production budget and likely its global P&A budget. It has also overtaken Monsters University as the biggest digitally animated film of the year and it is cruising towards $300 million.
To call Adam Sandler critic-proof is an understatement. The films of his that earn good reviews tend to struggle, while those that are reviled by critics soar at the box office. Grown Ups 2 was eviscerated by critics, with many calling it the worst film of the year, but it still managed a powerhouse opening with $41.51 million. This would normally be a huge amount for a comedy, but this one did cost $80 million to make, so it will take a while to show a profit for the studio. It will get there, just not as fast as it should had its production budget been reasonable.
Pacific Rim opened on the low end of expectations with $37.28 million during its opening weekend. This is, quite frankly, a terrible opening for a film that reportedly cost $180 million to make. Granted, that's an unsourced number, so I don't trust it to be 100% accurate, but it is also not an outrageously high number, given the level of special effects in the movie. The film's reviews might be enough to help it cross $100 million domestically, while it should be a strong player internationally. That said, it needed to open better than this.
The Heat was pushed into third place with $14.00 million over the weekend for a total of $112.37 million after three. It became the 16th film released in 2013 that has reached the century mark and it could have enough left in it to get to $150 million. It will be monstrously profitable, and the studio is probably already salivating over the upcoming sequel.
The Lone Ranger plummeted more than 60% to just $11.51 million over the weekend for a total of $60.22 million after two. There are some reports out there that suggest Disney will lose $150 million on this film.
Looking in on the sophomore class, Kevin Hart: Let Me Explain fell 53% to $4.75 million over the weekend for a running tally of $26.13 million. It could have fallen 100% and studio still would have been happy, given its opening weekend numbers.
Filed under: Weekend Estimates, The Lone Ranger, Monsters University, Despicable Me 2, Pacific Rim, Grown Ups 2, The Heat, Kevin Hart: Let Me Explain, Adam Sandler