Early Sunday AM, 4th update: One of the interesting takeaways from this Mother’s Day weekend in Guardians of the Galaxy Vol. 2‘s complete decimation of Warner Bros./Village Roadshow’s King Arthur: Legend of the Sword is that the Disney/Marvel movie will reach close to breakeven in less than three weeks, quite early in its theatrical release, while Guy Ritchie’s medieval mess may not earn back its estimated $100M distribution expenses — and both pics’ negative costs are within 14% of each other (GOTG2 with $200M and King Arthur with $175M).
GOTG2 is looking at a second weekend of $63M per Disney after a Saturday that was +70% over Friday with $27.8M. Many industry estimates believe GOTG2 is much higher between $64M-$66M. By Disney’s measure, the James Gunn pic will be at $246.1M by the end of today. Global is at $630.6M right now for the Marvel sequel.
20th Century Fox is reporting a $17.5M opening for the Amy Schumer-Goldie Hawn combo Snatched after a 29% boost on Saturday over Friday with $6.45M. Many foresee a fantastic hold for the movie of -5% to -6% on Mother’s Day today. Snatched‘s one asset in regards to remaining in theaters is that it’s the only comedy out there until Sony’s Kate McKinnon-Scarlett Johansson Rough Night takes place on June 16.
And King Arthur is falling to the ground with $14.7M for the weekend, after a $5.5M Saturday that’s +4% over its Friday.
One trusted film finance boss told Deadline how enraged they were over Warner Bros. overspend here on King Arthur: “They should have followed the Tom Rothman rule of being fiscally responsible and creatively reckless: Make original IP for a cost effective price. If it works then spend more if necessary on the sequel. King Arthur should have been done for $60M-$80M. Warner Bros. had no reason to spend $175M-plus on this picture. Hell, even Jumanji with The Rock included cost way less. Logan cost $97.1M net. WTF was Warners thinking?…It’s just bad for the business.”