The dust settled and one of the more interesting weekends a few days ago had a new number one film. How they will fare the next weekend is what I'll be curious about. From Box Office Mojo, Space Jam: A New Legacy scored its way to the top with over 31 million dollars, besting Black Widow by over five million. The next closest film was a huge drop with an Escape Room sequel making 8.8 million.
The Space Jam sequel is an interesting one. If I had to guess where it was going to be, it was top five due to nostalgia and a new generation seeing Looney Tunes. You also have the fans of LeBron James, who acted like a shithead with a "Hi haters" tweet after seeing the film reach number one. Like the original it is getting panned and some of James' fans online are acting like Michael Jordan fans are review bombing. It makes no sense at all. A lot of people and critics view the original as a forgettable film. This will be no different. Expect the new generation of kids to like it tremendously like most 90s kids back then.
That said, Space Jam Legacy has a huge uphill battle. The budget is either around 150 million or 185 million. Warner Brothers could be taking a huge bath if this doesn't have huge legs. It needs a good solid month in the States to get close to the budget. I don't think it will happen. The international release dates, I don't know, but that could be the saving grace. Pending the budget and advertising/marketing, this needs to make 400 to 500 million to even be considered a profitable one. Add in the small controversies, it's hard to give it a benefit of the doubt combined with the panned reception. James' haters tweet could bite him given his toxic behavior.
Black Widow could have been seen as a favorite to repeat. There was a headline I saw with movie theaters blaming Disney Plus for why the movie dropped to 25 million dollars. That could be streamed for 30 dollars, similar to what was done with Mulan last year. According to Deadline, the numbers reached 2 million households, which means it made 60 million. That number could be skewed a little bit, but take it as it is. The confidence in going to movie theaters is still a question. If you have a family of four or five, it's better to do your own popcorn and drinks and buy the film off of Plus for 30. At least in theory. Sure, it's not like the movie theater experience, but with a pandemic still going, why should some take that risk?
And this isn't just families that may not see the film in theaters. Right now, it's made just over 210 million worldwide (270 mil, give or take, from Plus) This also had a 200 million dollar budget and my guess of 50 million or more for advertising and marketing. It's going to look a lot more disappointing compared to the Ant-Man sequel though this will make more than that. There's also the Birds of Prey film from DC that I look at a little bit. That film did not have the budget like Widow, but made past it worldwide. You also have people who might be burned out on Marvel and Disney churning out these films. Scarlett Johansson isn't exactly a top billed actress that can lead a box office. They have to hope that the film doesn't drop steeply in its third weekend.
This upcoming weekend will bring in a new G.I. Joe film, Snake Eyes. Also plenty of smaller released films coming out. I can't imagine Space Jam having a strong second weekend and Black Widow could go either way. Maybe studios should learn you don't need 150 to 200 million budgets for most films to do well.
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