Fantastic Beasts' Takes Top Spot at Box Office
November 20 2016 - 8:50PM
Dow Jones News
"Fantastic Beasts and Where to Find Them" had no trouble finding
first place at the box office this weekend, if not in as magical a
fashion as some expected.
The "Harry Potter" spinoff, which stars Eddie Redmayne as a
wizard in 1920s New York, collected an estimated $75 million in the
U.S. and Canada, a fine opening ahead of a holiday week, when
movie-going typically increases.
But "Fantastic Beasts," based on a screenplay by J.K. Rowling,
arrived in theaters under pressure to perform exceptionally well.
The movie cost $180 million to produce, and kicks off a five-film
series based on the wizarding world for its studio, Time Warner
Inc.'s Warner Bros.
An opening closer to $90 million would have eased concerns about
whether the audience appetite was keen enough to support such an
undertaking. On the positive side: An "A" grade from
opening-weekend audiences surveyed by the CinemaScore market
research firm suggests the film will get strong word-of-mouth.
Overseas, the movie collected an additional $143.3 million. It
hasn't yet opened in China, the world's second-largest market for
movie tickets.
"Fantastic Beasts" had an older opening-weekend audience than
the "Harry Potter" movies that set the box office ablaze from 2001
to 2011, said Jeff Goldstein, Warner Bros.' president of domestic
distribution.
The studio expects the movies to draw in younger crowds as the
series progresses, he said, especially since many original "Harry
Potter" fans are having children of their own.
"Fantastic Beasts" kicks off a yearslong effort by Warner Bros.
to build a franchise that can keep the "Harry Potter" world alive.
The first "Fantastic Beasts" sequel is slated to hit theaters in
November 2018. The studio's other franchises include "The Lego
Movie" productions and adaptations of DC Comics, including next
year's "Wonder Woman."
Mr. Goldstein said the "key point" of the initial "Fantastic
Beasts" movie was to "get audiences interested and want to
participate in this world." The movie's opening, he said, was in
line with what the studio expected for the start of a series not as
well known as the original "Harry Potter" stories.
As "Fantastic Beasts" sucked up all the box-office oxygen for
new releases, three other arrivals flopped hard.
"Edge of Seventeen," a coming-of-age comedy from STX
Entertainment starring Hailee Steinfeld, collected a measly $4.8
million. "Bleed for This," a boxing drama starring Miles Teller and
distributed by Open Road Films, was KO'd, taking in just $2.4
million.
"Billy Lynn's Long Halftime Walk," about a soldier who returns
home from war an uncomfortable hero, posted one of the worst
wide-release openings in recent history. It collected $930,000 and
follows other recent disappointments for the TriStar Productions
label at Sony Corp.'s Sony Pictures Entertainment that include
"Ricki and the Flash" and "The Walk."
In other box-office news, "Manchester By the Sea," a critically
acclaimed family drama by director Kenneth Lonergan, collected an
impressive $241,000 from four locations in New York and Los
Angeles. The movie is being distributed by Roadside Attractions and
Amazon Studios, a production division of e-commerce giant
Amazon.com Inc. Amazon paid $10 million for distribution rights to
the film at the Sundance Film Festival earlier this year.
Write to Erich Schwartzel at erich.schwartzel@wsj.com
(END) Dow Jones Newswires
November 20, 2016 20:35 ET (01:35 GMT)
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