Welcome back to The Box Office Report where we take a look at the previous weekend’s domestic box office and see how the year is shaping up with the films that have hit it big! We’ve entered the final week of June and the box office still isn’t looking as hot as the weather has been although it seems to be doing well in countries like China. Let’s dive right in, shall we?
Transformers use to be a property that legitimately got me excited back when I was a kid. I was a massive fan of the Beast Wars cartoon series in the 90s and had a few toys from the show. How the toys could go from being an animal to a fighting robot was such a cool concept to me. Granted, I never experience Transformers in their hey-day of the 80s but I could absolutely see why the cartoon and toy line were so popular. So now here we are, though, five films into a franchise that has been the definition of modern day action porn for quite some time. I never understood so much as to why they’ve always had to focus on the humans, as if the film needs the audience to relate to something in the film that has absolutely nothing to do with the war between the Autobots and Decepticons but I digress. Transformers: The Last Knight officially opened on June 21st, which was a Wednesday, as it tried to capitalize on the fact that it’s the summer and technically every day during the summer, for American audiences at least, is treated to something like a weekend since the younger demographic aren’t in school. For a film with a $217 Million budget it hasn’t been nearly as successful as you would expect. The first two days it was able to make $23.7 Million and then it racked up the $44.6 Million from the weekend as you can see. This film is not going to make a ton of money domestically. The reviews have been really bad to simply meh (15% on Rotten Tomatoes, B+ for CinemaScore, and a 28 on Metacritic). I’m fairly sure that this film is trying to take the same route as The Fate of the Furious and get as much of that Chinese (foreign) money as possible since it currently has over $267 Million worldwide with $119 Million of that coming from China alone. They love their action stuffed CGI fests, apparently. Digging a bit deeper shows some really big issues for the franchise though. The opening was the lowest out of the entire franchise (next closest was the first Transformers film which opened with $70 Million in 2007), even if you include the two days early that the film released. The franchise is starting to take in the direction of the Pirates of the Caribbean franchise and I’ll be shocked and surprised if Transformers 5 makes over $150 Million domestically. The film won’t make over $1 billion worldwide like the last two films did.
Wonder Woman fell to second place last weekend and by a thread on the Lasso of Truth kept that position this weekend by beating out Cars 3. The film is having one of the greatest domestic runs for a movie all time as each weekend folks are in constant surprise with how well the film is holding. Its fourth weekend is actually the tenth highest grossing fourth weekend of all time and is the fourth highest grossing fourth weekend of all time for comic book movies. This will be the highest grossing DCEU film domestically by the end of this weekend, possibly by Thursday. Worldwide it needs a bit more help as it still sits below Man of Steel but I still think the film will overall gross more than Suicide Squad but not quite as much as Batman v Superman. The reason is that the domestic totals are outstanding but the foreign totals are either underwhelming or on par with any other comic book film (At this point the film has made $335.8 Million from the foreign markets.). Wonder Woman has one more big market to open in, Japan, and it won’t happen until August. By then I’m sure we will have a better idea of what the film outcome of the film will be. It’s actually quite impressive how well the film keeps performing each weekend and actually gives me a bit of hope that the Justice League film this November will turn out alright.
Cars 3 dropping to third place after opening in first last weekend doesn’t look good, but I’ve no doubt the film will continue to stick around in the top ten for a few more weeks. The film has already made good on what Disney wanted the film to be: a glorified toy commercial. I’m sure merchandising sales have gone through the roof.
The Mummy is still barely holding onto a spot in the top 5 but I still think the film will break even thanks to the foreign totals but we all know that Universal didn’t want this film to merely break even. The Mummy currently has $343 Million worldwide. I don’t see the film making $80 Million domestically at this point.
All Eyez On Me joined a rather unfortunate group of films thanks to having a 78% drop off from its opening weekend. This is the second biggest second weekend drop for 2017, and the sixteenth biggest drop of all time, with Collide having the biggest of 2017 and of all time (the film released in February 2017 and fell an abysmal 88.5% from its opening weekend.). It’s going to be really hard for the film to make back its budget with those kinds of numbers as it proves just how front loaded the film really was.
Rest of the Top 10 Quick Hits:
Pirates 5 is still being held up thanks to having near $700 Million worldwide (currently sitting at $679 Million vs a $230 Million budget). Rough Night is still having a rough go at it although it will make back at least its budget ($20 Million). Anything more than that is gravy though this is still a bit of a flop. Captain Underpants seems to still be pulling in some money despite Cars 3 being out. Dreamworks can only be satisfied with where the film sits (nearly $72 Million worldwide vs a $38 Million budget). Guardians of the Galaxy Vol. 2 just won’t go away! The film has had an absolutely fantastic run and should close out its domestic run with just shy of $390 Million.
2017 Domestic Totals:
Not much has changed with the overall domestic grosses of 2017. Wonder Woman will continue to climb but I won’t make as much as Guardians of the Galaxy Vol. 2. It’s just not feasible considering that Wonder Woman had less of an opening than GotG 2 and will have massive competition from Spider-Man: Homecoming in less than two weeks. Some people believe that Wonder Woman could gross as much as $400 Million but I think that’s a bit of a pipe dream. It’s interesting to me that the top ten are divided almost equally by Disney, WB, Universal, and Fox. Everyone has had a few solid films this year.
All films that closed this past week were mostly indie films and nothing truly notable. (Not saying that indie films aren’t notable, just that I tend to focus on very wide releases.)
2017 Worldwide Totals:
I want to point out the domestic and overseas percentage split for Pirates of the Caribbean: Dead Men Tell No Tales. Expect the overseas total to grow a bit more compared to the domestic. It’s very much taking a tip in scales similar to The Fate of the Furious. Transformers 5 currently sits in seventeenth place and has a similar split to Pirates 5 (25.6 % to 74.4%). These figures will continue to skew more towards the foreign crowds as they tend to be the only people who really want to see these films nowadays. If Wonder Woman can earn roughly $60 Million more worldwide then the entire DCEU will have taken 4 films to earn $3 billion worldwide. It took Marvel 6 films to achieve the same (Once they released the first Avengers film they finally topped $3 billion worldwide). Your Name gets to spend another weekend in the top ten. Yay!
So that will do it for this week of The Box Office Report! Next week we will continue tracking Transformers 5, notably see how the second weekend drops are, Wonder Woman, and all of the other film that I think are worth talking about (sometimes it’s hard to find things to actually talk about with these films!). We will also see how well Edgar Wright’s newest film Baby Driver has performed and see if Despicable Me 3 can do better than Cars 3! So tune in next week for all of this and more! Thanks for the support and for reading!