Miss Peregrine' Is No. 1 as 'Deepwater Holizon' Underwhelms
October 02 2016 - 11:20PM
Dow Jones News
Three new releases hit movie theaters this weekend, and their
performance varied across the board.
"Miss Peregrine's Home for Peculiar Children" found a fair
number of new residents at the multiplex, while "Deepwater Horizon"
underwhelmed, and "Masterminds" looked like anything but a good
idea.
"Miss Peregrine," director Tim Burton's big-screen adaptation of
the hit young-adult series by author Ransom Riggs, grossed an
estimated $28.5 million in first place in the U.S. and Canada. That
is a good, if not mind-blowing, start for the movie, given its
budget of $110 million.
"Miss Peregrine," a fantasy about an abandoned orphanage,
collected an additional $36.5 million from overseas markets
representing about 60% of the global marketplace. That bodes well
for the movie's eventual profitability, said Chris Aronson,
president of domestic distribution at the movie's studio, Twentieth
Century Fox.
"We're well on our way to being in the black on this one," said
Mr. Aronson. (Fox's parent company, 21st Century Fox, and News
Corp, owner of The Wall Street Journal, share common
ownership.)
Two more installments followed the original "Miss Peregrine"
book, but Mr. Aronson said it was "too early" to tell whether Fox
would adapt them into sequels.
"Deepwater Horizon," the action-packed cinematic telling of the
2010 BP PLC blowout and oil spill, collected a tepid $20.6 million
in second place. "Deepwater" will need an unusually strong degree
of continued business in the coming weeks to qualify as a success,
given a budget that topped $100 million after tax-credit
savings.
Previous releases aimed at adults have shown particularly long
"legs" this time of year, including "Captain Phillips" and "Bridge
of Spies."
"Deepwater Horizon," starring Mark Wahlberg and Kate Hudson, has
drawn strong critical response and audience feedback, which should
help word-of-mouth. Its performance in the Gulf states affected by
the BP oil spill was particularly strong, said David Spitz,
co-president of domestic theatrical distribution at Lions Gate
Entertainment Corp. Seven of the studio's top-10 performing
theaters on Friday night were in Texas, he said.
The weekend's third new release, the Kristen Wiig comedy
"Masterminds," barely registered with $6.6 million in sixth place.
"Masterminds" was released by Relativity Media LLC seven months
after the studio came out of bankruptcy, and its performance won't
to help the company's financial woes.
In bankruptcy filings, Relativity estimated "Masterminds" would
have a lifetime revenue of more than $130 million—a near
impossibility given its weekend opening. A Relativity spokeswoman
didn't return a request for comment.
Walt Disney Co.'s "Queen of Katwe," playing in fewer theaters
than other wide releases, didn't pull in many moviegoers. The
inspiring story of an Ugandan chess champion grossed $2.6 million
in seventh place.
Last week's No. 1 movie, "The Magnificent Seven," held on in
third place, collecting $15.7 million for a two-week total of $61.6
million.
Of all the new releases, audiences like "Queen of Katwe" best,
giving it a rare "A+" grade, according to the CInemaScore market
research firm. "Deepwater Horizon" received an "A-," "Miss
Peregrine" got a "B+" and "Masterminds" a "B-."
Year-to-date box office is up 4.6%, according to comScore.
Write to Erich Schwartzel at erich.schwartzel@wsj.com
(END) Dow Jones Newswires
October 02, 2016 23:05 ET (03:05 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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