Industry News
by saidiontheside

saidi’s take – 7/9/2024

Hello everyone,

BOX OFFICE: “Despicable Me 4” did better than pre-release predictions making $75 million this past weekend and $122 million since it opened last Wednesday (due to the 4th of July on Thursday).  “Inside Out 2” fell to 2nd for the first time making $30 million over the 3-day weekend and crossing $500 total domestic box office.  Unfortunately, “A Quiet Place Day One” fell 60% on its 2nd weekend which is a lot more than expected.  People predicted it would be over $100 million after the holiday week but it’s domestic total is now at $93 million.  The highest per screen average last weekend was the SINGLE SHOWING of “The Seven Samurai” in 70mm 4K.  It made over $19 thousand.  The next highest was the per screen of “Despicable Me 4” which was almost $17 thousand.

The total domestic weekend was just 1% over the previous weekends domestic total with $156.2 million.  This is about $25 million over the same 3-day weekend last year.  However, “Barbie” and “Oppenheimer” hadn’t opened yet at this date last year.  It looks like the box office will be sinking for the next couple of weekends until “Deadpool and Wolverine”.  Next weekends only major release is the comedy “Fly Me to the Moon” and the weekend after the only major release is the (not a sequel) “Twisters”. 

WORLDWIDE BOX OFFICE: At the worldwide box office, although there were two animated movies competing for the same audience, they both did well at the worldwide box office.  “Despicable Me 4” opened in several more foreign countries as well as opening domestically and reached almost $231 million worldwide.  “Inside Out 2” BEAT the other movie in foreign countries – $78 million to $73 million.  “Inside Out 2” soared past $1.2 billion in its worldwide total. 

OTHER NEWS:

Last week I said there was a new buyer interested in Paramount Global but since then the news has completely changed.  David Ellisons Skydance Media has now almost completed a takeover of Paramount Global. Yesterday (Sun July 7) Paramount’s board of directors approved the deal.  Although they say that the cuts that were announced prior to the deal will still be happening because the new company says there will need to be cutbacks.

Another correction from last week: While most of the IATSE union is now arranging voting on the new tentative agreement with the studios.  The Teamsters haven’t reached a deal yet and last week they said that the studios are using “fear mongering tactics” to influence the agreement.  It looks like the final step of a Basic Crafts deal with the Teamsters is still not resolved.

LITTLE BIT OF HUMOR:

$35 may have been pricey 30 years ago (the movie came out in 1994) If Axel Foley were buying a ticket in the new “Beverly Hills Cop Axel F” he’d be paying 10 TIMES THAT.  Prices for Disneyland START at $310.  Maybe he should go to Magic Mountain instead (which is about 35 miles north of Beverly Hills) where a ticket is just $50 plus tax (according to their website) or he can go up to the Paramount Great American Amusement Park in Santa Clara, Ca ((near San Jose) – where the movie was filmed.  If you buy online, tickets are just $45 plus tax for that place.