COMPASS Comes Up Short in Dismal Victory
By: Jarrod Sarafin, News EditorDate: Sunday, December 09, 2007
It was an absolute dismal weekend at the box office this weekend as you will see in the result charts below but none came out worse than the actual winner for the weekend, New Line’s The Golden Compass. One has to wonder if New Line executives are now experiencing the same dose of cold reality that Universal Pictures execs felt in June when something very similar occurred at the box office. Compass landed in 1st place this weekend, pulling in 26.1 million on 3,528 theaters, making for an average-per-showing rate of $7,405.
Sounds okay, right? Not exactly…
New Line has listed the budget of The Golden Compass at the very high price tag of 180 million.
To put it in some perspective, the film actually has a higher budget than Universal’s Evan Almighty, which had to overcome a 175 mil price. Compass grabbing only a 26.1 million weekend total has it pulling in less in its debut then Evan did on 06/22/07 when it debuted in 1st place with 31.1 mil.
In another strictly New Line-fantasy comparison, it took in only half of what Fellowship of the Ring did when that film debuted in 3,359 theaters on 12/19/01 and grabbed 47.2 million in box office cash. Keep in mind that Fellowship was on 200 less screens and had an hour longer running time.
After this kind of domestic launch, the question is no longer: How successful will the Compass be?
The true question for New Line executives in their boardroom now becomes: Will the Compass prove profitable at all?
Personally, I thought it would do well and make its money back for New Line but after seeing that 180 million price tag and seeing this kind of horrible domestic debut, even that’s called into question now. The only positive that I see here is Compass not having to overcome the same competition that Evan had in the coming weeks. Still, while December’s corridor may not be as tent pole packed as June 29-July 18 was, the studio will be hard pressed to make that kind of budget back strictly in domestic receipts with I Am Legend, National Treasure: Book of Secrets, Sweeney Todd & Aliens vs. Predator: Requiem taking in revenue as well.
Disney’s Enchanted continued its success, landing in 2nd place for the weekend with 10.7 million to show for it in its third week of release. The film has accumulated 83.8 million since it debuted and averaged $3,041 per showing on its 3,520 theaters across the nation. Disney didn’t give a budget for this film so it’s hard to say just how successful this film has been but it’s safe to say that the budget can’t be very high, making this film a moderate success at the current time.
This Christmas seems to be the most profitable of the fall holidays by its run over the last three weeks, yet another smart 2008 release by Sony Screen Gems in a year where they release small budgeted films but end up doing decent at the box office. The film pulled in 5.0 million in 3rd place this weekend on its 1,879 theaters. The film only has a budget of 13 million and it has 42.7 mil in domestic receipts.
The rest of the films, ranked 4th-10th, didn’t do so well in the box office reports and their average per showings reflect that result. Well, No Country For Old Men would be an exception due to its moderate per showing rate but the rest were dismal.
Warner Bros’ Fred Claus flew into 4th place by taking 4.6 million in receipts. The holiday film, starring Vince Vaughn and Paul Giamatti, has been out 5 weeks now and it’s still appearing in 3,185 theaters so this weekend amounts to an average per showing rate of only $1,463. It has tallied 65.5 million in domestic receipts and much like Enchanted, there is no budget listed so it’s had to gauge the success level of the film. The film also has 7.3 million in overseas sales, making for a worldwide gross of 73.4 mil.
Paramount’s Beowulf follows in 5th place with a weekend showing of 4.4 mil, making for an average of only $1,478 in its 2,976 theaters. As of right now, this film is sitting exactly at its set budget with both domestic and foreign receipts combined. The studio has set its budget at 150 million. It now has 75.9 million domestically and 75.0 mil in foreign territories. Now, it’s up to steady cash inflow in its foreign releases to determine just how much of a success it can be billed as.
As I said earlier in the report, No Country For Old Men seems to be the only true highlight worth mentioning in this lower rankings of this box office report. Miramax has kept the theater release of this film low so every box office report, it turns in moderately successful average per showing rates. This weekend was no different, making for a $3,197 average on its 1,324 theaters. The film has been out for five weeks now and has totaled 28.8 million.
August Rush follows in 7th place with 3.5 million in receipts. The WB film has been out for three weeks and has 25.1 domestically. The next two ranked films follow only mere thousands behind August.
Fox’s Hitman ended up in 8th place with 3.4 million this weekend. The film, based on the best selling videogame series, has taken 35.8 million in domestic cash since its debut three weeks ago. It has another 14.3 mil in foreign sales, which has its worldwide gross at 50.1 mil. Once again, Fox has given no budget so it’s questionable whether this is moderately successful, average or below-the-mark for the studio.
MGM/WB hasn’t had the best of luck with their horrors and thrillers lately. Awake is faring no better than The Mist did though we can safely assume the budget for the film is low. Not sure if it’s as low as the 18 price tag for Mist but it can’t be very high. Still, the horror film lands in 9th place this weekend by taking in 3.3 million in receipts. In two weeks of release, it has only 10.7 million.
Paramount/Dreamworks continued in the top 10 with its Bee Movie release, which lands in the final 10th place with 2.6 million. The film is still in 2,707 theaters so this has its average per showing rate at only $964 per showing. The studios did release the budget for this film by giving it a 150 mil price tag. In six weeks of release, the animation has pulled in 121.0 mil domestically and another 19.4 mil in foreign sales. So, it has quite got its budget back currently sitting with a worldwide gross of 140.4 mil.
| Rank | Movie | Weekend $ | Theaters | Average | Total $ | Budget | Week # |
| 1 | The Golden Compass | 26.1 mil | 3,528 | $7,405 | 26.1 mil | 180 mil | 1 |
| 2 | Enchanted | 10.7 mil | 3,520 | $3,041 | 83.8 mil | --- | 3 |
| 3 | This Christmas | 5.0 mil | 1,879 | $2,660 | 42.7 mil | 13 mil | 3 |
| 4 | Fred Claus | 4.6 mil | 3,185 | $1,463 | 65.5 mil | --- | 5 |
| 5 | Beowulf | 4.4 mil | 2,976 | $1,478 | 75.9 mil | 150 mil | 4 |
| 6 | No Country for Old Men | 4.2 mil | 1,324 | $3,197 | 28.8 mil | --- | 5 |
| 7 | August Rush | 3.5 mil | 2,310 | $1,525 | 25.1 mil | --- | 3 |
| 8 | Hitman | 3.4 mil | 2,418 | $1,437 | 35.8 mil | --- | 3 |
| 9 | Awake | 3.3 mil | 2,023 | $1,631 | 10.7 mil | --- | 2 |
| 10 | Bee Movie | 2.6 mil | 2,707 | $964 | 121.0 mil | 150 mil | 6 |
Friday December 12-14, 2008 Releases:
Wide Releases
The Perfect Holiday---Dec 12--- (1,300 theaters)
I Am Legend (3,500+ theaters)
Alvin and the Chipmunks (3,300 theaters)
Limited Releases
The Kite Runner
Youth without Youth
Good Bye Bafana
Nanking
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