The weekend box office had a lackluster performance recently, with minimal activity and disappointing results. While the strikes played a part in affecting the theatrical schedule, it is also worth noting that January is typically a month that witnesses a couple of the year’s lowest-grossing weekends. The overall revenue for all titles over the 3-day period is projected to reach $68 million, marking the first weak weekend of the New Year. Furthermore, this figure represents an 8% decline compared to the same period last year, where the box office generated $72.4 million. It is crucial to analyze the box office landscape in January and understand the implications behind these numbers.
Paramount’s Mean Girls, in its second weekend, was screened across 3,826 theaters. Unfortunately, the movie witnessed a substantial 62% decline, with an estimated weekend box office revenue of $11 million. This brings its ten-day total to $49.3 million. Despite the decline, the new Mean Girls film is currently pacing 17% ahead of its 2004 predecessor, which concluded with a total box office gross of $86 million. While the film’s performance hasn’t been outstanding, it still displays some promise in terms of audience reception and revenue generation.
The Beekeeper, directed by David Ayer and distributed by Amazon/MGM, had a somewhat underwhelming second weekend at the box office. The film, showcased across 3,330 theaters, experienced a 50% decline, earning approximately $8.3 million. This brings the movie’s ten-day running total to $31 million. Despite the decline, The Beekeeper’s domestic endgame is projected to reach $45 million, surpassing the box office performance of The Gentleman from Guy Ritchie, a pre-Covid 2020 action film that concluded with a total gross of $36.4 million. The Beekeeper’s performance highlights the challenges faced by action films during this period.
The weekend’s only wide release was Bleecker Street’s I.S.S, an international space station thriller featuring Ariana DeBose, Chris Messina, and John Gallagher Jr. Despite opening in 2,520 theaters, the film struggled to make a significant impact at the box office. Many mainstream box office analysts might label it as a bomb due to its underwhelming $3.3 million opening weekend revenue. However, it is important to understand the post-pandemic reality faced by distributors. For Bleecker Street, as well as for Lionsgate, success is not solely determined by box office numbers but also by managing appropriate marketing and advertising expenses.
In a post-pandemic landscape, revenue generation extends beyond the theatrical release. Bleecker Street has adopted a distribution strategy similar to Lionsgate, focusing on limiting the marketing and advertising spend while still maximizing revenue in ancillary windows. I.S.S’s opening weekend revenue is just a fraction of the total gross it is expected to accumulate through home entertainment platforms. While critics may not have responded positively to I.S.S, with only 62% positive reviews on Rotten Tomatoes, its performance in ancillary markets might compensate for its lackluster theatrical debut.
Initial audience reactions to I.S.S have been lukewarm, with a C- CinemaScore and a low 49% positive rating on Screen Engine/Comscore’s PostTrak. Those who attended the screenings were predominantly male, comprising 69% of the audience. The majority of attendees were between the ages of 18-34, with the primary demographic falling within the 25-34 age group. In terms of diversity, the audience makeup consisted of 57% Caucasians, 25% Latinos and Hispanics, 7% African Americans, 5% Asians, and 5% from other ethnic backgrounds. These demographic trends provide insights into the target audience’s preferences and interests.
As the market lacks major event films, Imax aims to fill the gap with their release of Queen Rock Montreal. The film, showcased across 387 auditoriums, is estimated to have generated around $1.72 million. Queen Rock Montreal has achieved significant success in Canada, New York, Los Angeles, and Minnesota, indicating its appeal to a broad audience.
NEON’s Ava DuVernay drama, titled Origin, has had a limited release in 125 theaters across 31 markets. This movie marks the highest-tested film in NEON’s history. Despite the limited release, Origin has performed fairly well, with an estimated revenue of $833,000. While some projections predict a slightly lower range of around $700,000, the film’s performance still exceeds expectations. NEON targeted key Black theaters in Baltimore, Chicago, and Atlanta, along with various popular local and national spots in their distribution strategy. The film has garnered positive reviews, currently holding an 81% certified fresh rating on Rotten Tomatoes.
While the weekend box office experienced a slump, it is crucial to analyze the underlying factors influencing these results. January traditionally sees a dip in box office revenue, and the strikes further exacerbate the situation. However, specific films like Mean Girls and The Beekeeper display some promise, even with declining box office earnings. Distributors like Bleecker Street and NEON have adopted unique strategies, focusing on ancillary markets and limited release openings. The performance of films like I.S.S and Origin demonstrates the evolving dynamics of the film industry, where success is not solely dependent on box office revenue but on a comprehensive distribution and marketing approach. Despite challenging circumstances, the box office continues to adapt and evolve to cater to the changing preferences of audiences in a post-pandemic era.