erik lundegaard

Movies - Box Office posts

Tuesday June 23, 2009

The $67 Million Advantage

By the way, and related to yesterday’s post: If you take all 243 films that were released superwide (into 3,000 or more theaters) from 2004 to 2008, and divide them by Rotten Tomatoes' ranking (“fresh” meaning 60 percent or better from top critics, “rotten” 59 percent or worse), and total and then average the box office for each category, this is what you get:

All Superwide Releases, 2004-2008

Type
No. of films
Total B.O.
B.O. Per Film
"Fresh" films
76
$12,064,252,567
$158,740,165
"Rotten" films
167
$15,321,793,613
$91,747,267

That's a $67 million advantage.

Are there extenuating circumstances? No doubt. "Fresh" superwide releases are more likely to open during the prime real-estate months of May, June, July, November and December—by a 66% to 47% ratio. Their marketing budgets may be bigger, too, but of course I have no data on that. (Does anyone?)

Most importantly, "fresh" films open, on average, in 231 more theaters than “rotten” films.

But even if you take away this advantage—by dividing the average box-office take by the average opening theater count—the “fresh” films are still much, much more lucrative:

All Superwide Releases, 2004-2008, by Theater Count

Type
No. of films
Avg. B.O. 
Avg. Thtrs.
Avg.
"Fresh" films
76
$158,740,165
 3,581  $44,331
"Rotten films
167
$91,747,267
 3,350 $27,385
 
It’s even more stark on the extremes—the superwide releases that garnered 90 percent or better from top critics vs. the superwide releases that garnered 9 percent or worse:
 
Best and Worst Superwide Releases, 2004-2008
 
RT Critic Rating
No. of films
Total B.O.
B.O. Per Film
 90-100%
 13 $2,996,670,616
  $230,513,124
 0-9% 25 $1,493,738,755
  $59,749,55

If you build it well, we will come.

No tagsPosted at 09:09 AM on Jun 23, 2009 in category Movies - Box Office
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Monday June 22, 2009

Dumb like a Fox

Last week, John Lesher, the president of the Paramount Film Group, was fired and replaced by Adam Goodman, former head of production at Dreamworks SKG. Nikki Finke’s blog listed a number of offenses against Lesher, including drunkenness, while the L.A. Times said his biggest offense in his 18 months on the job wasn’t greenlighting enough pictures.

Maybe the two are related. I have no idea—I’m way the hell up in Seattle, and I don’t read much on internal studio dynamics—but the following, at least, demonstrates a problem Paramount has had for the last five years. It’s a table on how the big six studios (plus DreamWorks) fared with their superwide (3,000+ theater) releases from 2004 to 2008, ranked by average box office:

 Superwide Releases, 2004-2008, by Studio/Distributor

Studio
No. films
"Fresh" films*
% of "fresh" films
Avg. box office
DreamWorks/Paramount
12
7
58%
$153,894,953
Buena Vista
36
11
30%
$132,481,548
Warner Bros.
38
15
39%
$128,921,554
DreamWorks
10
5
50%
$125,634,867
Universal
19
7
37%
$119,575,789
Sony
30
8
26%
$113,209,160
Paramount
22
11
50%
$105,187,877
Fox
39
6
15%
$103,167,684
    * the number of films that garnered a 60% or better rating from the top critics in the country, and compiled on rottentomatoes.com.

If you’re a regular reader you know I’m someone who believes that, with similar movies, good generally beats bad. People are more likely to go see a good popcorn movie over a bad one, and an exciting arthouse movie over a dull one. To paraphrase a famous movie line: “If you build it well, they will come.”

Paramount, according to this chart, builds them better than most, but, on average, fewer people show up.

The bigger question the table raises, though, is this: What’s up with Fox? They have the lowest percentage of fresh films and the lowest average box office per film as well. If you’re wondering what Fox's 39 superwide releases over the last five years look like, here you go. As sorted by top-critics-ranking on Rotten Tomatoes:

Fox's Superwide Releases: 2004-2008

Film
Top Critics' Ranking (RT)
Dom. Box Office
Horton Hears a Who
 81%  $154m
The Simpsons Movie
 81%  $183m
Live Free or Die Hard
 78%  $134m
Robots
 69%  $128m
Star Wars: Revenge of the Sith
 69%  $380m
Ice Age: The Meltdown
 62%  $195m
Because of Winn-Dixie
 53%  $32m
Nim's Island
 52%  $48m
Fever Pitch
 51%  $42m
Marley & Me
 50%  $143m
X-Men: The Last Stand
 50%  $234m
I, Robot
 50%  $144m
Kingdom of Heaven
 50%  $47m
Mr. & Mrs. Smith
 43%  $186m
Transporter 2
 42%  $43m
The Day After Tomorrow
 41%  $186m
Night at the Museum
 39%  $250m
Meet Dave
 37%  $11m
Mr. Magorium's Wonder Emporium
 37%  $32m
Fantastic Four: Rise of the Silver Surfer
 31%  $131m
What Happens in Vegas
 30%  $80m
Fantastic Four
 27%  $154m
The X-Files: I Want to Believe
 25%  $20m
27 Dresses
 23%  $76m
Alvin and the Chipmunks
 22%  $217m
Taxi
 19%  $36m
Hide and Seek
 18%  $51m
Big Momma's House 2
 13%  $70m
Elektra
 13%  $24m
Cheaper by the Dozen 2
 12%  $82m
The Day the Earth Stood Still
 12%  $79m
Eragon
 11%  $75m
The Seeker: The Dark is Rising
 11%  $8m
Garfield: The Movie
 9%  $75m
Max Payne
 9%  $40m
Deck the Halls
 9%  $35m
Alien vs. Predator
 4%  $80m
Jumper
 3%  $80m
Babylon A.D. 
 0%  $22m

It’s not pretty. I liked, well enough, “Mr. & Mrs. Smith,” “The Simpsons Movie” and “Marley and Me,” but there’s no standout film here, and most of their menu smells like the glop of McDonald’s. In fact, they’re the only major studio over the last five years not to release a film superwide that garnered a 90% or better rating from the top critics in the country. DreamWorks (“Wallace and Gromit”) Paramount (“Iron Man”) and Universal (“The Bourne Ultimatum”) each did it once; Sony did it twice (“Casino Royale”; “Spider-Man 2”); Warner Bros. three times (“The Dark Knight”; “The Departed”; “Harry Potter and the Prisoner of Azkaban”); and Buena Vista, with a big helping hand from Pixar, did it four times (“Ratatouille”; “WALL-E”; “The Incredibles” and “Enchanted”). Fox? Nothing. Not even close. As you can see.

Equally astonishing is the kinds of movies Fox decides to dump into 3,000+ theaters. “The Seeker”? “Meet Dave”? “Elektra”? The preeminent popular genre of the decade is the superhero film and what has Fox done with it? They’ve taken one franchise that started brilliantly (Bryan Singer’s “X-Men”) and run it into the ground, while taking one of the more famous superhero teams ever created (“The Fantastic Four”) and never got it off the ground. You could argue that Fox’s most successful superhero over the past five years isn’t Wolverine or Mr. Fantastic; it’s Spider-Pig.

In the 1930s studios had personalities. Warner Bros. was gritty gangster stuff, MGM went after glamour and sophistication, etc. Studios are corporate-run now—smaller entities within larger multinational conglomerates—so we no longer ascribe a personality to their output. Lucky for Fox.

No tagsPosted at 08:12 AM on Jun 22, 2009 in category Movies - Box Office
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Sunday June 21, 2009

Tossed

Bummer.

Hollywood Elsewhere, via Variety, reports that Sony chief Amy Pascal has pulled the plug on “Moneyball,” the Steven Soderbergh adaptation of Michael Lewis' book, which was to star Brad Pitt as Oakland A's GM Billy Beane, and which was to begin shooting Monday. Earlier this month, Patrick Goldstein, expressing enthusiasm for the project, wrote about how it would adhere closely to the book. Maybe that was the problem. Too cerebral? Too much about baseball? Neither of which (baseball, cerebral) plays well in international markets?

Jeffrey Wells, for one, is doubtful:

What this seems to mean is either that (a) Pascal doesn't believe that stars like Pitt mean all that much when it comes to opening a costly film — that the movie itself has to have the commercial goods or it's not worth doing, or that (b) she's half-persuaded that the 46 year-old Pitt — 50 in four and a half years! — isn't much of a star any more. Or a combination of both.

Who knows? Maybe Pascal knew she was taking a chance with Soderbergh, and, after the relative failures of two recent Sony offerings, “Pelham” and “Year One,” she wasn't in the chance-taking mood.

As I said: Bummer. With that talent, and that source material, I had high hopes the movie would be good. Certainly better than “Deuce Bigalow: European Gigilo,” “Stealth,” “Bewitched,” “Guess Who” or “RV,” all of which Sony/Columbia, and presumably Pascal, not only greenlit but opened in more than 3,000 theaters in recent years.

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Posted at 07:48 PM on Jun 21, 2009 in category Movies - Box Office
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The One Lesson of Summer Box Office

Thursday night I took Patricia to see “Up” because I thought she’d love it—she did, particularly Dug—and because I wanted to see it without the 3D. I’m glad we went. Movies should be big and 3D seems to make them smaller. It’s as if, in creating the appearance of density, characters become heavy tiny objects rather than light big objects. The unfurling of the balloons and the house taking off—a great cinematic moment—is much more beautiful on the flat screen. Roger Ebert agrees.

“Up,” dismissed early and long for its elderly lead character, is already past the $200 million mark, the second-highest-grossing film of the year, and looks poised to pass “The Incredibles” ($261 million) to become the second-highest-grossing Pixar pic ever. Another example that quality—certainly brand-name quality—wins in the end.

Except Variety is now attributing the success of “Up” to...what? 3D, of course:

“Up’s” boffo run is the latest example of how 3-D runs can boost a film’s bottom line through higher ticket prices. The film’s 3-D runs make up only 40% of the total screen count, yet they contribute 60% of the gross.

So how much of that 20-percent difference is in higher ticket prices and how much is in higher attendance figures? And if the latter, how many moviegoers would’ve seen the film anyway? I mean, is anyone seriously going to see “Up” because of 3D? At least Variety tempers its enthusiasm with some later-graf common sense from Disney:

Chuck Viane, Disney’s prexy of domestic distribution, said 3-D has been a boon to “Up,” but he added that the foundation of any successful pic is a good story. “3-D enhances the storytelling, and thereby, the run,” Viane said.

For really misreading stats, though, there’s Variety’s Anne Thompson. I found the article—her six lessons of summer box office—in the usual roundabout Internet way: a link on Nathaniel R.’s site to a David Poland piece critiquing Anne Thompson’s original article. Now I add to the chain.

I like Nathaniel’s caveat: “I can’t say I ‘enjoy’ David Poland’s habitual attacks on other film journos but he definitely makes good points in this article.”

As someone who’s been attacked by Poland, I couldn’t agree more. Particularly since Poland, in his attack on me, got so much wrong.

I’d argue he goes overboard here, too. He attacks all of Thompson’s six lessons and... well, most of them are pretty bad. She draws big lessons from a small sample—always a mistake—when she could’ve crunched all six of her lessons into one. Quality sells. She implies as much with her adjective choices in nos. 3 & 6: “Smart R-rated dumb male comedies sell” and “Lackluster sequels sell--but don't break out big” (italics mine). She might’ve done the same with nos. 5, 4 & 2: bad Eddie Murphy movies don’t sell; unfocused family films don’t sell; and good origin myths (“Star Trek”) trump bad origin myths (“Wolverine”).

As for her no. 1 lesson? “Originals sell”? She writes:

The very thing that the majors are most afraid of is what makes Pixar King of the Mountain, every single time: originality. While everyone else looks for easy-sell labels, Pixar relies on a very old-fashioned idea: make it good and they will come. Up scored not via marketing prowess, but through great word-of-mouth. Gross to date: $191 million and going strong. Heck yeah!

Again, I’m happy about the performance of “Up,” not to mention “The Hangover,” which—amazingly!—looks poised to go over the $200 million mark as well. And I certainly wish this lesson were true. But is it? The highest grossing film thus far this year is “Star Trek,” which is a reboot of an old movie and TV franchise. Not original. And earlier in the article Thompson herself taps the films she thinks will be the summer’s big blockbusters: “Transformers: Revenge of the...” and “Harry Potter and the Half-Blood...” Both sequels.

Here, in fact, are the 10 highest-grossing movies from the last five years:

 
Title
Dom. B.O.
Type
1.
The Dark Knight (2008)
$533m
sequel
2.
Shrek 2 (2004)
$441m
sequel 
3
Pirates of the Caribbean 2 (2006)
$423m
sequel 
4. 
Star Wars: Revenge of the Sith (2005)
$380m
sequel 
5.
Spider-Man 2 (2004)
$373m
sequel 
6.
The Passion of the Christ (2004)
$370m
 
7.
Spider-Man 3 (2007)
$336m
sequel 
8.
Shrek the Third (2007)
$322m
sequel 
9.
Transformers (2007)
$319m
reboot
10.
Iron Man (2008)
$318m
 

Eight of them are sequels or reboots. The only two that are not—”Passion” and “Iron Man”—are based on previously published material. Which is to say: none are originals. You won’t see an original story on this list until no. 17—Pixar’s “The Incredibles”—and original stories remain few and far between thereafter: “Night at the Museum” (no. 19), “Hancock” (no. 24), more Pixar (“Cars,” “Wall-E,” etc.).

I’m not saying this won’t change. People flocked to musicals until they didn’t. But for the moment we live in a sequel era. We want daddy to tell us that story again.

However, if Ms. Thompson had written “Originals can sell,” well, I wouldn’t have argued with that. That’s a good lesson to get out in Hollywood.

No tagsPosted at 10:40 AM on Jun 21, 2009 in category Movies - Box Office
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Tuesday June 16, 2009

Imagine Better

Here’s a question from last month’s box office quiz: Which film, among all 52 films that opened superwide (in 3,000 or more theaters) in 2008, grossed the least? The answer? Eddie Murphy’s (and Fox's) “Meet Dave,” which made only $11 million domestically.

This past weekend, Paramount distributed Murphy’s next film, “Imagine That,” into 3,000+ theaters again, with similar results. It finished sixth for the week, making $5.5 million, or $1,830 per theater. That’s pretty awful. Box office mojo uses the term “super-saturated” rather than “superwide,” and “Imagine That” has the fourth-worst opening weekend ever among super-saturated films—behind only “Hoot” (New Line), “The Seeker: The Dark is Rising” (Fox) and “Meet Dave” (Fox).

Murphy’s pattern feels familiar. The comedian who confronts the absurdities of society in blisteringly stand-up in his early days becomes, in his latter days, the actor who comforts and condones those same absurdities in limp, family-friendly comedies. That’s why I’m not interested in his films. But why is Hollywood still interested? Particularly if he keeps opening movies this way?

I guess they’re hoping for a “Norbit.” Let me repeat that. I guess they’re hoping for a “Norbit.” A film that didn’t cost much and made nearly $100 million.

Maybe they’re hoping for a “Doctor Dolittle,” which grossed nearly $300 million worldwide in 1998. They’re surely not holding out for a “Beverly Hills Cop,” which grossed $234 million domestically way back in 1984—the highest-grossing film of that year. Although maybe they are. “Beverly Hills Cop IV” is supposedly in development. As is “Fantasy Island.” As is “The Incredible Shrinking Man.” Both with Murphy attached.

Here’s a thought for the studios. Murphy might not be for summer anymore. Or he might not be for a superwide opening anymore. Or he might not be for movies anymore.

To funnier times.
No tagsPosted at 09:15 AM on Jun 16, 2009 in category Movies - Box Office
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