Sunday, March 17, 2024

Box Office Discussion: Giant "Panda"

 


Kung Fu Panda exceeds expectations, Dune 2 holds up well, and Imaginary and Cabrini had decent openings.

One lingering effect of the pandemic has been the significant reduction in family films reaching multiplexes.  In 2019, for example, there were, by my count, 24 new family films that went into wide release (a family film, as I define it, is a G or PG-rated movie with significant kid appeal).  In 2023, there were 14.  Part of that is because the studios, in general, are releasing fewer wide-release films, and the release schedule has still not returned to normal, but it also means that we can go weeks, even months, in between the release of family films, which means the ones in the marketplace can clean up.  Indeed, last year, most family films did less than a third of their business on opening weekend, and Elemental, Teenage Mutant Ninja Turtles: Mutant Mayhem, Wonka, and Migration did less than a quarter of their business on their opening weekends.  Wonka and Migration are still playing in theaters nationwide, even though they both opened before Christmas.

One of the reasons that the two holiday releases are still around is because, other than warmed-over Pixar films that are readily available on Disney+, there have been no new family films that have opened since then.  That changed with the release of Kung Fu Panda 4, and its opening suggests that the demand for a new film for the kids was very much pent up.  It arrived to an outstanding $58 million, the second-highest opening of the franchise, only behind the first film, the second-biggest opening of 2024, and the biggest opening for an animated film since Spider-Man: Across the Spider-Verse last June.  That it will become the second 2024 film to top $100 million is a given, and it doesn't have to do four times its opening to hit the $200 million mark.  Given that the next new wide family releases aren't out until mid-May, Panda has an excellent shot of hitting that mark.

Buoyed by outstanding word-of-mouth, Dune: Part Two held up quite well in its second week, taking in $46.2 million, which is still more than the first film made on its opening weekend.  Dune becomes the first 2024 movie to hit the $100 million mark, with a ten-day total of $157.2 million.  It will also become the first 2024 film to hit the $200 million mark, and should double the first film's $110 million final gross in the next couple of weeks.  After that, $300 million is still on the table.

The horror film Imaginary opened in third, with $9.9 million, a decent, if unremarkable start for the latest from Blumhouse (which released this one through Lionsgate, instead of their usual partner Universal).  The film, about a mother who realizes that something evil has invaded the teddy bear she gave her daughter, should finish north of $20 million, which would double its budget.  Expect confusion later this year with parents trying to find something for their kids to watch on streaming mixing it up with the upcoming film If (coincidentally the next new family film to be hitting multiplexes).

The director of last summer's out-of-nowhere smash Sound of Freedom had a quick return to multiplexes with the religious drama Cabrini, about the Catholic missionary who was a tireless advocate for Italian immigrants to the United States in the late 19th and early 20th centuries.  It opened to an OK $7.2 million, well off the pace of Freedom, but better than the more-hyped Ordinary Angels opened to a couple of weeks ago.  This one also looks to be heading to about $20 million.

For a few days, Bob Marley: One Love was able to reign as 2024's highest-grossing film, before being buried by Dune.  The music drama is still second on the year (for now) as it took in $4.1 million for a total of $89.4 million.  It still seems likely to be heading to $100 million, but if it does, it will likely just barely reach it.

The aforementioned Ordinary Angels saw Cabrini take most of its audience, as it fell to $2 million, for a total of $16.1 million.  Madame Web, which is running neck-and-neck with Argylle to be early 2024's biggest flop, brought in $1.1 million for a total of $42.6 million.

Migration was, not surprisingly, hurt quite a bit by the new animated title in town, as it fell to $1.1 million.  Still, a milestone was reached as its $125.3 million gross is now more than ten times its opening weekend total, becoming the second 2023 film that opened wide on a Friday to hit that milestone.  Interestingly enough, the other film, Anyone But You, opened the same day, December 22.  While both film's opening weekends were likely somewhat lower than they otherwise would have been thanks to Christmas Eve, typically a slow movie day, being on Sunday, and their grosses were undoubtably also juiced by being out during the very lucrative week between Christmas and New Year's, this is still an extraordinary accomplishment.  Migration is still going to end up, by a wide margin, Illumination's lowest-grossing fully animated film (which is why we probably haven't heard any announcements about Migration 2 yet), but it is certainly not the disaster it looked like when it opened.

It's relatively rare for a non-Bollywood, non-anime foreign language title to hit the Top 10.  The Chinese comedy YOLO, about a woman who decides to take charge of her failing life by learning how to box, is a huge hit at home.  In North America, it opened in 9th, with a gross of $0.8 million.  It could easily make $3-5 million domestically.

Rounding out the Top 10, The Chosen Season 4 Episodes 7-8 brings its 11-day total to $6.6 million.  Still, the three releases of episodes combined has done a fairly impressive $29.4 million combined, most of which is basically free money.  Expect them to repeat this stunt for Season 5.

Kung Fu Panda and Dune will undoubtedly be the top 2 movies this weekend, meaning that the biggest newcomer, Arthur the King, will likely have to settle for 3rd.  Despite its name, the drama is not the latest retelling of the Camelot legend, but rather an inspirational drama about a team of endurance racers who adopt a stray dog after he is somehow able to keep up with the team's movements through the jungles of the Dominican Republic.  Mark Wahlberg and Simu Liu star.  Not counting last summer's rather vulgar Strays, this is the first live-action dog movie since, well, Dog, which came out two years ago.  That one made a surprise $61.8 million, a total that I suspect Lionsgate would be ecstatic with for Arthur.  Also opening, and hoping to make the lower rungs of the Top Ten, are the inspirational drama One Life, the raunchy comedy Snack Shack, the satire The American Society of Magical Negros, and the thriller Love Lies Bleeding, which opened in limited release last weekend.  Will Kung Fu chop its way back to the top?  Could Dune ride a giant worm to reclaim the title?  Could Arthur shock the world and be king of the weekend?  We'll find out next week.

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