Summer Ends with a Whimper, with ‘Reagan’ the Best of Tepid New Releases

In recent years, Labor Day weekend’s reputation as a box office dead zone has been upended by strong showings from films like “Shang-Chi and the Legend of the Ten Rings” and “The Equalizer 3.” Unfortunately, for 2024, standard perception prevails with a predictably lackluster showing.

“Beetlejuice Beetlejuice” (Warner Bros.) opens next week to a projected $100 million+ debut, starting what looks like an improved rest of the year compared to the final four months in 2023. For now, it’s tread water time, with the late summer’s best doing best (and in some cases holding extremely well).

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The weekend’s total of $86 million was down only $6 million from last year despite the boost from the Denzel Washington sequel ($35 million). Key was the sustained strength of previously top titles. Still #1 “Deadpool & Wolverine” (Disney) fell only 17 percent ($15 million), now about $600 million. Two Universal hits already on PVOD did even better. #5 “Twisters” actually went up 17 percent (that’s nearly unheard of), while “Despicable Me 4” fell only four percent.

Disney also took second place with “Alien: Romulus,” $9.3 million (though down 43 percent in its third weekend). “It Ends with Us” was third, down 36 percent, just under $138 million. The second weekend of “The Forge” (Sony) dropped only 31 percent to place sixth.

Five new films debuted with multi-hundred dates (one of the reasons National Cinema Day found it difficult to get set). Best of the bunch by far was “Reagan” from first-time Dallas-based distributor Showbiz Direct. It opened fourth with $7.4 million in 2,754 theaters.

It did so with rock-bottom awful reviews (including from Rupert Murdoch’s Wall Street Journal; the New York Post though very conspicuously has yet to run its review), but also with an A Cinemascore from fans. The gross (and Cinemascore) is normal for a wide release appealing to conservative (politically or faith-based) films who are attracted by targeted marketing and desire for sharing the experience with like-minded thinkers.

The reported pre-marketing budget for this (which stars Dennis Quaid) was $25 million. This wouldn’t seem likely to have much foreign interest, so it will need a strong multiple plus continued post-theatrical interest to become profitable.

It is hardly unique as a biopic about a conservative political figure. Margaret Thatcher (“The Iron Lady”), Winston Churchill (“The Darkest Hour”), and Richard Nixon (Oliver Stone’s “Nixon”) all have been portrayed, often to acclaim and Oscar interest. None of those though had a director (Sean McNamara) whose credits included three non-theatrically intended “Baby Genius” sequels, suggesting a different level of artistic aspiration.

Blumhouse’s “Afraid” (Sony) did about as poorly as a studio wide release ever does. With $3.7 million, it placed #9 ($12 million budget, so not a major disaster).

Below the top 10, three films that played in fewer than 1000 theaters had minor or less response. “1992” (Lionsgate), about the aftermath of the Rodney King assault, did $1,365,000 in 875. Also Los Angeles set (in migrant sweat shops), “City of Dreams” (Roadside Attractions) grossed 1,272 in 774 theaters. Curiously, both films received either A or A- Cinemascores. Space-travel themed “Slingshot” (Bleecker Street) with Casey Affleck managed only $485,000 in 845 theaters.

The only new platform title of note is “Seeking Mavis Beacon” (Neon), a Sundance-premiered documentary. It grossed $9,062 in one theater. “Tokyo Cowboy” (Purdie), in four cities/four theaters grossed an estimated $25,000.

Focus reissued “Shaun of the Dead” with an excellent $600,000 in only 133 theaters.

Top 10

1. Deadpool & Wolverine (Disney) Week 6; Last weekend #1

$15,184,000 (-17%) in 3,630 (-210) theaters; PTA (per theater average): $4,183; Cumulative: $599,525,000

2. Alien: Romulus (Disney) Week 3; Last week #2

$9,324,000 (-43%) in 3,120 (-795) theaters; PTA: $2,988; Cumulative: $88,764,000

3. It Ends with Us (Sony) Week 4; Last weekend #3

$7,425,000 (-36%) in 3,551 (-288) theaters; PTA: $2,091; Cumulative: $133,719,000

4. Reagan (Showbiz Direct) NEW – Cinemascore: A; Metacritic: 22; Est. budget: $25 million

$7,400,000 in 2,754 theaters; PTA: $2,687; Cumulative: $7,400,000

5. Twisters (Universal) Week 7; Last weekend #6; also on PVOD

$7,160,000 (+17%) in 3,005 (-201) theaters; PTA: $2,383; Cumulative: $258,032,000

6. Blink Twice (Amazon MGM) Week 2; Last weekend #4

$4,687,000 (-36%) in 3,067 (no change) theaters; PTA: $1,528; Cumulative: $15,341,000

7. The Forge (Sony) Week 2; Last weekend #5

$4,600,000 (-31%) in 1,921 (+103) theaters; PTA: $2,395; Cumulative: $14,313,000

8. Despicable Me 4 (Universal) Week 9; Last weekend #9; also on PVOD

$4,080,000 (-4%) in 2,698 (-107) theaters; PTA: $1,512; Cumulative: $354,110,000

9. Afraid (Sony) NEW – Cinemascore: C+; Metacritic: 26; Est. budget: $12 million

$3,700,000 in 3,003 theaters; PTA: $1,232; Cumulative: $3,700,000

10. Coraline (Fathom/Focus) REISSUE Week 3; Last weekend #7; also on VOD

$(est.) 3,150,000 (-38%) in 1,168 (-354) theaters; PTA: $2,684; Cumulative (adjusted): (est.) $139,450,000

Other specialized/independent titles

Films (limited, expansions of limited) are listed by week in release, starting with those opened this week; after the first three weeks, only films with grosses over $5,000 are listed. Metacritic scores and initial film festivals recorded when available.

City of Dreams (Roadside Attractions) NEW

$1,272,000 in 774 theaters; PTA: $1,644

1992 (Lionsgate) NEW – Metacritic: 41

$1,365,000 in 875 theaters; PTA: $1,560

Slingshot (Bleecker Street) NEW – Metacritic: 52

$485,202 in 845 theaters; PTA: $574

Seeking Mavis Beacon (Neon) NEW – Metacritic: 65; Festivals include: Sundance 2024

$9,062 in 1 theater; PTA: $9,062

Tokyo Cowboy (Purdie) NEW – Festivals include: Tallgrass 2023

$(est.) 25,000 in 4 theaters; PTA: $6,250

Shaun of the Dead (REISSUE)

$600,000 in 133 theaters; PTA: $

Strange Darling (Magenta Light) Week 2

$518,708 in 800 (-335) theaters; PTA: $648; Cumulative: $2,363,000

Between the Temples (Sony Pictures Classics) Week 2

$418,636 in 304 (-272) theaters; PTA: $1,377; Cumulative: $1,394,000

My Penguin Friend (Roadside Attractions) Week 3

$152,280 in 244 (-516) theaters; Cumulative: $2,448,000

Mountains (Music Box) Week 3

$7,301 in 10 (+5) theaters; Cumulative: $31,359

Cuckoo (Neon) Week 4

$49,170 in 55 (-195) theaters; Cumulative: $6,200,000

Good One (Metrograph) Week 4

$78,666 in 93 (+62) theaters; Cumulative: $244,286

CatVideoFest 2024 (Oscilloscope) Week 5

$85,225 in 38 (+6) theaters; Cumulative: $697,005

Kneecap (Sony Pictures Classics) Week 5

$17,439 in 21 (-13) theaters; Cumulative: $1,058,000

War Game (Submarine Deluxe) Week 5

$20,089 in 13 (+7) theaters; Cumulative: $80,040

Didi (Focus) Week 6

$326,000 in 234 (-201) theaters; Cumulative: $4,211,000

Sing Sing (A24) Week 8

$213,501 in 191 (no change) theaters; Cumulative: $1,967,000

Longlegs (Neon) Week 8; also on PVOD

$160,020 in 168 (-207) theaters; Cumulative: $73,906,000

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