Box Office Wrap Up: China Saves Transformers 5.
If this summer develops one theme, it’s China to the rescue for shabby US blockbusters.
So far this summer foreign audiences have propped up no less than five big budget flops. Alien: Covenant, Baywatch, Pirates of the Caribbean 5, The Mummy and now Transformers 5 have all landed on their face with US audiences, but managed big payouts abroad. I don’t see this trend reversing as we role into the meat of summer blockbuster season. Films like Spider-Man: Homecoming should do fine at home in addition to big paydays overseas, but films like Valerian and the City of a Thousand Planets and The Emoji movie are likely going to rely heavily on this trend.
Box Office History.
This weekend’s overall take was the lowest in a decade. Other studios were cowed into bumping their projects by the prospect of a gigantic debut for Transformers: the Last Knight that never materialized. In terms of the franchise itself, Transformers 5 is easily the worst opening weekend for one of these films. Even if you factor in the 5 day weekend created by a Wednesday release, this film got off the worst start in franchise history.
Most films had a big drop this weekend. All Eyez on Me dropped more than 70%, which is a catastrophe. The Mummy hemorrhaged another 60% this week, and even the second place Cars 3 dropped greater than 50% in ticket sales. The only film that remained intact was Wonder Woman, which has had tremendous staying power. WW passed Man of Steel and Suicide Squad for domestic earnings, and is guaranteed to pass Batman V Superman any day. Except for the Chris Nolan Batman flicks, Wonder Woman is now the biggest draw DC has.
First place when to Transformers: the Last Knight with an underwhelming 45 million over the traditional 3 day weekend. That is more than half of what Age of Extinction made in 2014…and that film is high in the running for the worst outing for Hasbro’s feature length toy commercials.
Second place was a tie between Wonder Woman and Cars 3. Both films made 25.175 million, though Warner Bros. are probably the happier studio since this is only Cars 3’s second weekend while WW has been around for a month now.
Since nobody wanted to throw their hat into the ring with Michael Bay’s Transformers, very little changed. The only big jump was that the shark horror film, 47 Meters Down, managed to parlay its better than hoped for debut into 300 more screens. With the extra eyeballs, the film managed to move up a spot from last week into 4th place.
Despite a strong worldwide opening for India’s Tubelight, no sales figures have been officially score for the limited domestic release. It did manage to become the second biggest debut in India this year, behind phenom Baahubali 2: the Conclusion.
The other film we had our eyes on, The Bad Batch, had a limited release alongside a same day streaming debut. It managed 90k in 30 theaters, which is not a fantastic start. Once again this is hard to judge as we don’t have solid figures on how much it made via streaming.