Weekend Movie Sweepstakes Dominated by Viacom

Photo of Paul Ausick
By Paul Ausick Updated Published
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

TEENAGE MUTANT NINJA TURTLES
Paramount Studios; Viacom Inc.
As anticipated, Viacom Inc. (NASDAQ: VIAB) and its Paramount Studios’ “Teenage Mutant Ninja Turtles” held on to its weekend box-office supremacy for a second week, outselling the latest installment, “The Expendables 3,” from Lions Gate Entertainment Corp. (NYSE: LGF). The action picture starring Sylvester Stallone even finished behind another newcomer, “Let’s Be Cops” from Twenty-First Century Fox Inc. (NASDAQ: FOXA).

Paramount’s “Teenage Mutant Ninja Turtles” sold an estimated $28.4 million in tickets at 3,980 theaters. In its two weeks of release the movie has posted cumulative revenue of $117.6 million.

The number two grossing movie of the weekend was “Guardians of the Galaxy” from Walt Disney Co.’s (NYSE: DIS) Marvel Studios. “Guardians” sold about $24.7 million in tickets at 3,697 theaters and has posted total revenue since its release of $222.3 million.

“Let’s Be Cops” earned an estimated $17.7 million for Fox at 3,094 theaters. Since its opening on Wednesday, the film has posted cumulative revenues of $26.1 million.

“The Expendables 3” was expected to sell about $24 million in tickets in its opening weekend, but the film managed just $16.2 million at 3,221 screens. This is the weakest opening ever for the franchise, even though the film was rated PG-13 compared with the R ratings on the first two movies.

The other new film for the past weekend was “The Giver,” based on a young-adult novel by Lois Lowry, and it features Jeff Bridges and Meryl Streep. The film was expected to sell about $16.5 million in tickets for The Weinstein Company, but could manage just $12.8 million after playing on 3,003 screens.

With two weekends still remaining in August, the month is on track to be the best August ever for domestic box office sales. Receipts are expected at around $1 billion on the strength of both “Turtles” and “Guardians.” For the entire summer season, however, box office receipts are down about 15%, according to a report at USA Today.

ALSO READ: Why Time Warner Can’t Return to a 52-Week High

Photo of Paul Ausick
About the Author Paul Ausick →

Paul Ausick has been writing for a673b.bigscoots-temp.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.

Featured Reads

Our top personal finance-related articles today. Your wallet will thank you later.

Continue Reading

Top Gaining Stocks

CBOE Vol: 1,568,143
PSKY Vol: 12,285,993
STX Vol: 7,378,346
ORCL Vol: 26,317,675
DDOG Vol: 6,247,779

Top Losing Stocks

LKQ
LKQ Vol: 4,367,433
CLX Vol: 13,260,523
SYK Vol: 4,519,455
MHK Vol: 1,859,865
AMGN Vol: 3,818,618