Saturday, November 17, 2007

$10 Million Opening Day For Beowulf

Update (Jan 4): Beowulf is still showing in 290 theaters! It has raked in $190 million worldwide ($80m domestic & $110m international) and still going. Definitely a positive sign for the 3D movie industry.

Update (Dec 10): Beowulf has now recouped it's production costs from combined foreign and domestic returns! Domestic take = $76 million and Foreign take = $75 million; Total = $151 million. Now thats not bad considering the extremely limited number of 3D theaters that are available (but growing quickly). Look for this movie to continue staying in theaters until well past New Years Day. If you have a 3D theater and the people are still coming - why not right? Who cares if the 2D screens are reverting to "I am Legend" :-)

Update (Dec 3): Beowulf now stands at over $117 million worldwide! Worldwide I see the movie still having legs after 17 days in theaters as the 3D movie receipts continue to mount. That's where the true margins lie for Beowulf. The investors will definitely recoup their money and have some profit to talk about - not bad for only having a very limited amount of 3D enabled theaters in their palms!

Update (Nov 25): According to Box Office Mojo, Beowulf has crossed over $100 million worldwide. North American results so far show $56 million with International returns standing at $50 million for a total of $106 million. You can expect the 3D theaters to continue to bring in dollars despite the low number available right now. IMAX will continue to have outstanding revenue based on their higher ticket price for the bigger experience.

Update (Nov 21):
Beowulf to surpass $50 million worldwide today according to Box Office Mojo (BOM). I find BOM has the best estimates for returns - check out Beowulf's page on their site here.

Update (Nov 19): $28.1 million for the first weekend take. 40% of take thus far is from Digital 3D screens. The 3D screen breakdown is as follow: Real D - 648; IMAX - 84; Dolby 3D - 8. I have spoken with the Canadian Theater Chain, Empire Theatres, and they are headed toward a Real D rollout across Canada, but will have a trial of Dolby 3D as well.

Also of note is that while the IMAX screens totalled only 2% of the total amount, they accounted for 13% ($3.6 million) of the total box office take for the weekend. This is hugely significant as audiences are clearly willing to pay more for the big screen and the increased immersion experienced, especially in 3D.

Moreover, Beowulf has accomplished a great deal this weekend by proving that a massive opening is possible for an adult-oriented 3D movie. Keep in mind that only about 10-15% of the total 3D theaters expected for 2009 have been converted! Expect more great numbers as more people see the film in 3D over the holiday weekend.

Interesting to see that 40% of the Beowulf audience was female. I will keep you updated with numbers as they arrive.

Update (Nov 18): Box Office Mojo is estimating a $28 million take as of Nov 18th.

The $160 million Beowulf took in $9.7 million on Friday on pace for a $30 million weekend. I will post with new numbers when available.

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Jim Dorey
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