BOX OFFICE ROUNDUP: SECRET SUCCESSFUL

SECRET LIFE OF PETS FINALLY DEFEATS FINDING DORY AND GIVES HOLLYWOOD A MUCH NEEDED SHOT IN THE BOX OFFICE ARM

Disney/Pixar’s Finding Dory has been killing the competition since it was released last month, dominating the box office three weekends in a row (and the first two weeks weren’t even close as Dory doubled and even tripled the next closest titles). Few doubted that Universal’s The Secret Life of Pets would open in the top spot this weekend, but the question was by how much and would Dory prove to be a speed bump on Pets way to box office dominance. The answer to both those questions were“a lot” and “no.”

Last summer should have proven to everyone that there were plenty of dollars in the animated movie kitty to go around as Pixar’s Inside/Out and Universal/Illumination’s Minions squared off in a battle of the animated titans, with Minions coming out on top (though both movies made insane amounts of money). Insiders were keeping a close eye on this year’s rematch and the two heavyweights didn’t disappoint.

Pets silenced the doubters with a whopping 103.2 million dollar debut at the North American box office, the third highest opening in what has been an otherwise disappointing summer (the average box office debut of this summer’s new releases are down an estimated 27% from this time last year) and laid waste to conservative predictions of a debut in the 80 to 85 million dollar range. It is the sixth highest opening this year and breaks the box office record for the highest opening gross for an original property (non sequel, prequel, remake, reboot or adaptation). The previous record was set last year by, you guessed it, Inside/Out. Trackers will now be watching to see what kind of legs Pets will have and what kind of profit margin it can generate against a very reasonable 75 million-production budget.

The Legend of Tarzan narrowly held onto second place, snaring an extra 20.6 million in its second weekend. Warner Bros. revisiting of the Edgar Rice Burroughs classic has netted 81.5 million since its debut last week but will need a strong overseas performance to balance its 180 million dollar production budget.

Despite being bumped from the top spot, this was hardly a bad week for Finding Dory. The sequel to 2003’s Finding Nemo unseated The Lion King as Disney’s highest grossing animated film of all time and it passed Captain America: Civil War to become 2016’s reigning box office champ. Currently sitting at just over 422 billion, the race is on to see if Dory can reach the elusive half billion domestic box office mark. If it can, it may well be the only 2016 release to do so.

Fox’s R-Rated comedy Mike and Dave Need Wedding Dates opened fourth, outperforming some expectations but still only pulling in 16.6 million on its opening weekend (with grim long-term prospects). Has the raunchy comedy genre run out of steam, or is it the raunchy comedy starring Zac Efron’s abs genre that has run its course? Efron’s other two adult comedy efforts this year-Neighbors 2: Sorority Rising and Dirty Grandpa-were both disappointments. It may be time him to try and expand his resume a little.

The Purge 3: Election Day’s box office performance dropped an eye popping 63 percent, but it was still able to claim fifth spot with 11.7 million in earnings, bringing its two week total to 58 million. Considering it only cost 10 million to make, every dollar Purge rakes in at this point is pure gravy for Universal. And the Dwayne Johnson/Kevin Hart buddy movie Central Intelligence passed the 100 million dollar mark this week, raking in another 8.1 million to bring its four week total to a shade over 108 million. Holding the sixth spot this week, Intelligence should hold onto a spot in the weekly top ten for at least one or two more profitable weeks.

Independence Day Resurgence continues to (barely) hang onto a spot in the top ten, adding 7.7 million to a dismal total of 91.5 million domestically. How bad has it been for 20th Century Fox’s pricey (165 million) sequel? According to IMDB, the original Independence Day made over 306 million dollars domestically; the sequel could be hard pressed to hit 100 million despite IMAX showings, 3D ticket prices and two decades worth of inflation. Ouch. And speaking of bombs, The BFG brought in only 7.6 million on its second weekend for a total of 38.7 million against a production budget of 140 million. Fortunately Disney has four billion dollar properties under its belt so far this year and has a few big bullets left in its chamber (plus Walden Media shouldered some of BFG’s swollen budget, meaning Disney won’t take as big of a bath on it).

Sony’s small budget suspense The Shallows also continues to swim with the box office sharks, adding 4.8 million to a 45.6 million total that is nearly triple the film’s production budget. And just to add a surprise to the mix, Bollywood import The Sultan ranked tenth among North American box offices this weekend, bringing in 2.2 million on only 287 theatres. Not too shabby.

With Secret Life of Pets breathing some much needed life into a stagnant 2016 summer box office; distributors can breath a small sigh of relief. Attention now turns to Sony’s Ghostbusters opening next weekend. The female centric remake/reboot is one of the most hated things on the Internet (and has been since it was first announced in 2014) and responses from both Sony and director Paul Feig have only added fuel to the online fire. A lot of eyes will be on Ghostbuster’s bottom line this time next week. Stay tuned.

Shayne Kempton

 

 

 

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