Monday, September 11, 2017

Box Office Week: IT opens at #1 with amazing $123.1M, breaking the horror opening weekend record by $64M+, the September opening weekend record by $68M+ and IT had the biggest opening day for an R-rated film with $51.5M. Also Despicable Me 3 passed $1B...oh and Home Again opened at #2 with $9M

Rank Title Domestic Gross (Weekend) Worldwide Gross (Cume) Week #
1 IT $123,100,000 $179,150,000 1
2 Home Again $9,028,222 $9,028,222 1
3 The Hitman's Bodyguard $4,850,000 $107,073,409 4
4 Annabelle: Creation! $4,000,000 $280,267,010 5
5 Wind River $3,210,200 $27,551,780 6

Notable Box Office Stories:

  • So before we discuss why IT was such a massive success this weekend, check below this paragraph for all the records IT broke this weekend when it opened at #1 with $123.1M. Those are just the beginning of how unbelievably successful this weekend was. For more context IT was only the 2nd R-rated film ever to break $100M opening weekend, IT's now domestically the 2nd highest grossing Stephen King film ever (behind The Green Mile with $136.8M) in just one weekend, IT beat the September opening record by more than double, and not only did IT beat Paranormal Activity 3's opening weekend but IT surpassed PA3's lifetime domestic gross ($104M) just this weekend alone. Hell, many are saying IT could have grossed over $125M if not for Hurricane Irma, which caused hundreds of theaters in Florida to close, a state that accounts for 6% of overall domestic gross. I mean it when I say this is one of the most incredible opening weekends in box office history. Even if IT didn't come close to the biggest opening weekends of all time, IT damn well never was expected too. This thing opened better than Wonder Woman for god's sake. IT is just a monster hit any way you cut it. And with a B+ on Cinemascore and with super successful horror films like Get Out and Don't Breathe having great legs with similar scores IT should hold incredibly well.

All Major Box Office Record Broken by IT this Weekend

Biggest Opening Day (Horror): $51M / Previous Record: $26.3M (Paranormal Activity 3)

Biggest Weekend (Horror): $123.1M / Previous Record: $52.5M (Paranormal Activity 3)

Biggest Opening Day (R-Rated): $51M / Previous Record: $47.3M (Deadpool)

Biggest September Opening Weekend: $123.1M / Previous Record: $48.4M (Hotel Transylvania 2)

Biggest Fall Opening Weekend: $123.1M / Previous Record: $55.7M (Gravity)

  • So why did this happen? What made IT, a $35M September horror film, perform like a summer blockbuster? Well there's many factors but the biggest for me was the trailer, which was extremely well edited. It's clear there was a huge desire for a film like IT in the culture and when the trailer premiered online it was insane, breaking many records for most viewed trailer in a single day. Part of that hype I feel is the same reason many undervalued the opening of Jurassic World: nostalgia. We are at now are clearly seeing the buying power of properties from the late 80s, early 90s and successes like JW and Stranger Things shows that people are primed to revisit that time. As such IT is kind of a perfect property. Not only is the book still one of King's best selling, IT was also a super successful miniseries that was viewed by 30 million people on ABC in 1990 and re-run on cable countless time. However as famous and beloved as Tim Curry's portrayal of Pennywise is, the miniseries hasn't aged well so the iconic imagery and horror was in need of a rebranding, versus say Carrie '13 where the reimagined iconic imagery felt more like "hey remember Carrie" than legit attempts to reinvigorate a story. As for the marketing, the push has been phenomenal. It's clear as soon as WB saw the hype for the trailer on social media they quadrupled their marketing push. This was the widest release ever for an R-rated film (4,100 theaters) and still there were many sold out shows throughout the weekend. Finally IT just came at a great time, after two of the worst weekends in decades and a terrible summer overall. Hollywood and the US were ready for a hit and IT was good enough to deliver on the nostalgia and desire to be scared by something that isn't all the terrible scary shit happening in the real world.

  • Sorry Home Again your opening would probably be less memorable if IT had opened like a normal studio horror film in the $30M - $40M range. But unfortunately for the film this weekend saw the 5th largest gap ever between 1st and 2nd place with a whopping $108M separating the two films. Even more unfortunate that it's one of the first not disasters from Open Road in a long while. Okay it's not incredible as it had a per theater average of just $3000 but the film only cost $15M so it should manage to hold well enough as counter-programing. The film did open about the same as last year's Bridget Jones's Baby but that film was helped by huge brand recognition in Britain so don't expect Home Again to perform anywhere near the same. Hey someone had to be on the same stage as The Beatles on The Ed Sullivan Show and now Home Again is IT's Fred Kaps.

  • In what might be the quietest rise to a billion I've seen Despicable Me 3 became the 31st film to cross the $1B mark and the 3rd so do it this year. Part of what made this so surprising is how it felt like this film had fallen off the map only to check up on it to find it growing at an incredible rate. Part of this quiet rise is that while the film has had fantastic drops in the domestic market it still has domestically grossed $100M less than Despicable Me 3 (which didn't cross $1B, but got close with $970M) and $75M less than Minions (which did cross $1B). However while the domestic gross of Despicable Me 3 is disappointing (as disappointing as a $259.9M gross on an $80M budget can be) the international sales have been just incredible. Just look at these numbers: $158.1M in China, $60M in Japan, $59M in the UK, $41M in Germany, $39.8M in France, $38.8M in Brazil, $34.8M in Mexico, and dozens of other great runs in other countries. Illumination and Universal have built a brand as powerful and as universally recognized as Toy Story and they've done so with half the budgets in half the time. Just incredible.

Films Reddit Wants to Follow

This is a segment where we keep a weekly tally of currently showing films that aren't in the Top 5 that fellow redditors want updates on. If you'd like me to add a film to this chart, make a comment in this thread.

Title Domestic Gross (Cume) Worldwide Gross (Cume) Budget Week #
Guardians of the Galaxy Vol. 2 $389,758,914 $863,341,819 $200M 19
Wonder Woman $410,503,142 $816,303,142 $149M 15
Cars 3 $152,063,509 $350,263,509 $175M 13
Baby Driver $106,557,278 $213,657,278 $34M 11
Spider-man: Homecoming $327,702,794 $823,002,794 $175M 10
Dunkirk $183,110,279 $492,210,279 $100M 8
Wolf Warrior 2 $2,683,390 $852,627,161 $30M 6

Notable Film Closings

Title Domestic Gross Worldwide Gross Budget
Rough Night $22,105,643 $47,017,665 $20M
An Inconvenient Sequel: Truth to Power $3,496,795 $3,959,795 $1M

As always /r/boxoffice is a great place to share links and other conversations about box office news.

Also you can see the archive of all Box Office Week posts at /r/moviesboxoffice.



Submitted September 11, 2017 at 07:51AM by mi-16evil http://ift.tt/2gYNsLl

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