Thursday, June 1, 2023

Boxpffice Pro's Weekend Projections (Guardians of the Galaxy 3, The Little Mermaid, Spider-Man: Across the Spider-Verse): Some Thoughts on What They May Mean

Boxoffice Pro has released its projections for this weekend.

Its figures for three films in particular caught my interest, namely those for Guardians of the Galaxy 3, The Little Mermaid and Spider-Man: Across the Spider-Verse.

Boxoffice Pro expects Guardians of the Galaxy 3 to have a $9 million fifth weekend, raising its total gross to the vicinity of $320 million--which seems to me consistent with my guess about the movie's ending up in the vicinity of $330 million domestically from a few weeks ago (if perhaps ending up with more like $335 million than $325 million). All this reaffirms that the film's overseas trajectory, where after the film's opening better than it did in North America it seems to be fading more quickly, will be the key determinant in whether it finishes below $800 million, or gets some way north of it before the close of its run.

The matter of the weekend hold is more complicated in the case of The Little Mermaid. With a 61 percent drop from one Friday-to-Sunday to the next anticipated the projection would seem to be for a quicker fade than what the comparable Aladdin had (another Disney live-action adaptation of an animated movie of theirs from thirty years ago, likewise released Memorial Day weekend, which had only a 53 percent weekend-to-weekend drop). Leaving it running about 4 percent behind Aladdin in current dollars, this still leaves The Little Mermaid on track for a respectable $300 million domestically. However, a very big question mark continues to hang over its second weekend performance in other markets--this always decisive in determining whether a big Disney production is a success financially, though I cannot remember their previously having entailed so much uncertainty as they do with this movie.

Finally Boxoffice Pro has issued an estimate, in about the middle of the range it forecast last week, for Spider-Man: Across the Spider-Verse, foreseeing a $115 million opening. Suggestive of a final gross in the $300 million+ range, it confirms what we have heard about this one playing like a regular live-action Marvel movie with all that may imply not just for the franchise, but for the superhero film and the Hollywood blockbuster generally.

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