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411 Box Office Report: Ocean’s 8 Sets Franchise Record to Claim #1

June 10, 2018 | Posted by Jeremy Thomas
Ocean's Eight

The Ocean’s franchise lives again, as Ocean’s 8 scored the #1 opening at the box office with ease. The heist comedy spinoff topped the box office with $41.5 million, above the $35 million that most analysts were expecting it to do. The opening numbers represent a new record for the franchise, besting the $39.2 million start that Ocean’s Twelve garnered in 2004.

There was a lot of attention on whether this one was going to soar or sink, being the latest big-budget female-led take on a major franchise. Ghostbusters attempted a similar thing in 2016 and, despite a better opening at $46 million, was considered a failure due to the marketing money and expansive budget put toward it. Ocean’s had a smaller budget and a less costly P&A campaign, acheiving success in that it avoided the remake concerns to instead spin off with Sandra Bullock playing the sister of George Clooney’s Danny Ocean. Critics moderately warmed to the film overall with a 68% average on Rotten Tomatoes, and audiences liked it with a B+ CinemaScore that helped word of mouth.

At this point, the film looks to be a pretty solid success for Warner Bros. The franchise has always had good multiples and while Ocean’s 8 may not pull off the 3.7 multiple average of the previous films, it’s looking likely for at least $120 million to $130 million. The series has also done strong numbers overseas, and thus far is at $12.2 million in just sixteen markets for a $53.7 million worldwide total thus far. With a $70 million budget plus marketing costs, the international revenues should bring this well into the black.

After a rough drop last weekend, Solo: A Star Wars Story evened out and fell a more tolerable 49% in its third weekend for $15.2 million. The numbers bring the Star Wars prequel to $176.1 million domestically and $312.2 million worldwide. It still has quite a ways to go to hit profit considering the $250 million budget and probably won’t make it there. It is currently targeting around $200 million to $210 million domestically by the end of its run.

Deadpool 2 eased 41% in its fourth weekend with $13.7 million. The superhero sequel has raked in $278.7 million domestically and $655.3 million worldwide, and should be able to stay on course for around $305 million in the US. It’s a hit, particularly considering the relatively smaller $110 million budget.

A24 came in at #4 with its latest horror film, Hereditary, with $13 million. The Toni Collette-led film exceeded its $10 million goal on the back of critical acclaim (93% on RT) that A24 was able to build effective buzz on. The opening is the studios best to date, topping The Witch’s $8.8 million opening in February of 2016.

Hereditary represents a major coup for A24 and marks the second breakout horror hit of the year. Though it is well behind the opening numbers for A Quiet Place ($50.2 million), it also cost less at $10 million and had a much more modest marketing campaign. If there is any concern here, it is the word of mouth; audiences disliked it in general with a lousy D+ CinemaScore. Blame that on the fact that this is essentially an arthouse horror given a mainstream release. The film is far away from the jump scares of mainstream horror and contains a bizarre final act that turned many audience members off. Still, it should not have a problem making it to at least $35 million domestically. That will be enough for a profit, with overseas numbers turning it into a relative hit.

Avengers: Infinity War was down one spot in its seventh weekend to $6.8 million. That’s off 35% as the film continues to show pretty decent legs for a Phase Three MCU film. The movie is now at $654.7 million domestically and $1.998 billion worldwide, making a $2 billion worldwide total a sure thing. In the US it should end off around $670 million domestically. The budget was $300 million.

STX Entertainment’s Adrift took a hit in its second weekend, down 57% to $5.1 million. That’s a higher than average fall for survival dramas, which typically shed 45% – 50% in their second frame. The Shailene Woodley and Sam Clafin starrer is now sitting at $21.7 million domestically and $22.5 million worldwide after it started its overseas releases. The film is looking likely to close off at around $35 million, which means that overseas markets need to pick up to make back the $30 million budget.

Paramount’s Book Club was down 40% to $4.2 million. The ensemble comedy is up to an impressive $56.9 million domestically and at this point should make it to around $65 million to $70 million. Paramount has a hit here on a $10 million budget.

Global Road’s third film of 2017 was DOA in Hotel Artemis, which fell with a dull thud at $3.2 million. The Jodie Foster-led action thriller represented the lowest opening for the fledgeling studio to date, behind Show Dogs’ $6 million opening in May and Midnight Sun’s $4 million start in March. And neither of those films were hits either.

Hotel Artemis came in with very little buzz; critics yawned at it (58% on RT) and audiences who did see it didn’t care for it (C- CinemaScore). These aren’t positive prospects for this film, which may have trouble getting to $10 million. Global Road needed this to hit at least $5 million to have much hope at profit, considering the $15 million budget. As it stands now, it’s pretty hopeless.

Blumhouse Tilt’s Upgrade was down 53% to $2.2 million in its second weekend. The science fiction thriller took a bigger hit than expected considering the positive reviews and word of mouth, but stands at $9.2 million and should make it to at least $16 million. On a $3 million budget plus limited marketing, it’ll be fine.

Mellisa McCarthy’s Life of the Party closed out the top ten with $2.1 million, down 40% in its fifth weekend. The back-to-college comedy has now tallied $50.3 million domestically and $59 million overseas. It will make it to a very modest profit on a $30 million budget and will end around $55 million in the US.

Next weekend will belong to Pixar as The Incredibles 2 explodes into theaters. The long-awaited animated sequel should be able to stake out a $120 million opening or more. Also opening is R-rated comedy Tag, looking for a much more modest mid-teens start.

BOX OFFICE TOP TEN (Three-Day Domestic Numbers)
1. Ocean’s 8 – $41.5 million ($41.5 million total)
2. Solo: A Star Wars Story – $15.2 million ($176.1 million total)
3. Deadpool 2 – $13.7 million ($278.7 million total)
4. Hereditary – $13 million ($13 million total)
5. Avengers: Infinity War – $6.8 million ($654.7 million total)
6. Adrift – $5.1 million ($21.7 million total)
7. Book Club – $4.2 million ($56.9 million total)
8. Hotel Artemis – $3.2 million ($3.2 million total)
9. Upgrade – $2.2 million ($9.2 million total)
10. Life of the Party – $2.1 million ($50.3 million total)