Welcome back to Box Office Breakdown, the weekly segment where I analyze the top ten highest grossing films of the past weekend. As theatres continue to reopen and prepare for an onslaught of new theatrical releases, we will be analyzing the state of the box office, as well as VOD and streaming.
Paramount Pictures’ bold decision to exclusively release The Spongebob Movie: Sponge on the Run theatrically in Canada seemed to have backfired, as the film saw a 36.5% decrease in profit in its second weekend and was unable to hold its position at the top of the charts. While normally a decrease of this size would be expected, considering theatres have been closed for a prolonged amount of time due to COVID-19 and the film is the first significant theatrical release since the closure of theatres, it is surprising that the film isn’t drawing in a slightly larger audience. While many signs point to people not yet being comfortable watching a film in theatres while COVID-19 is still going on, it’s also possible that the film’s relatively negative critical reception could have had an impact. Unlike the former, Unhinged opened theatrically in the U.S. this past weekend and has managed to do quite well financially, taking the top spot on the charts and seeing a +565.6% increase in profit. Despite mixed reviews, the film seems to be garnering very strong word of mouth buzz, which could help it stick around for a while.
The most prolific new theatrical release this past weekend was Words on Bathroom Walls, an independent coming-of-age romance based on the teen novel of the same name that shines a light on mental illness and features an impressive cast including Charlie Plummer, Taylor Russell, Anna Sophia Robb, Andy Garcia and Walter Goggins. The film received very strong reviews from both critics and audiences alike. However, it hasn’t done as well commercially, as the film made a profit of under $500,000, despite opening in over 900 theatres domestically. Words on Bathroom Walls is the type of film that would benefit from strong word of mouth, so we will have to wait and see how the film fares next weekend.
After numerous delays, Wu-Tang Clan member RZA’s latest directorial effort Cut Throat City has finally hit theatres. The film opened in 389 theatres domestically and made a profit of just under $250,000, which can be considered a relative success. The film received generally mixed reviews however, so it may not have much staying power on the charts.
While there were no major new VOD releases this past weekend, The One and Only Ivan was released on Disney+. This star-studded family movie produced by Angelina Jolie, is an adaptation of the classic novel and follows the adventures of a Gorilla named Ivan, who teams up with an elephant named Stella, as they work together to hatch a plan to escape captivity. The film received generally mixed to positive reviews and is likely doing very well financially, due to its star-studded cast and high budget.
Here are the top 10 highest grossing films domestically from the past weekend:
10) The Tax Collector (Week 3: $123K)
9) Back to the Future: 2020 Re-Release (Week 4: $140K)
8) Jurassic Park: 2020 Re-Release (Week 10: $180K)
7) Peninsula (Week 3: $213K)
6) Star Wars: Episode V – The Empire Strikes Back: 2020 Re-release (Week 7: $230K)
5) Cut Throat City (Week 1: $243K)
4) The Goonies: 2020 Re-release (Week 7: 260K)
3) Words on Bathroom Walls (Week 1: $419K)
2) The Spongebob Movie: Sponge on the Run (Week 2: $550K)
1) Unhinged (Week 2: $4.0M)
In the coming weeks, we will continue to analyze the state of VOD releases and will provide updates regarding upcoming films.
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