Box Office Recap: December 29-31, 2023

Wonka reclaims box office crown from Aquaman over New Year’s weekend.

It certainly was a holly jolly Christmas for the folks over at Warner Bros., with the studio enjoying three of the top five box office spots this past weekend. Following a brief drop down to second place during Aquaman’s opening, Wonka took back the title of weekend box office champ from the DC Comics superhero with a $20+ million showing over the New Year’s holiday. Elsewhere, three major films opened over the holidays. The Color Purple, The Boys in the Boat and Ferrari received their extended debuts through the week of Christmas and New Year’s, the former of the three earning a near record-setting $18 million Christmas day opening.

Winning first place, Warner Bros.’s Wonka earned $23.95 million domestically over its third weekend in release, bringing its total domestic run so far to $134.90 million. Despite dropping -98 locations from its previous weekend, the musical fantasy film, still managed to score a +32.7% holiday bump from its prior sophomore frame, earning a per-theater average of $5,820 at 4,115 locations. Internationally, the Willy Wonka prequel, which stars Academy Award nominee Timothee Chalamet as the titular Wonka, earned $244.40 million, bringing its total worldwide run closer to the $400 million mark with $387.16 million against a reported production budget of $125 million.

In the runner-up spot, Warner Bros. and DC Films’s Aquaman and the Lost Kingdom, the last of WB’s DC Extended Universe (DCEU), earned a sophomore run of $19.50 million domestically, which brings its current domestic total to $77.85 million. This marks a -29.6% drop from its debut frame, earning a per-theater average of $5,149 at 3,787 locations. Internationally, the superhero flick, earned $173.60 million, bringing its total global performance to $258.27 million against a reported production budget ranging between $205-215 million.

While at first glance, it might seem that Aquaman can be viewed as at least a modest success, looks here are deceiving. The production budget doesn’t take into account all of the studio’s additional marketing and overhead costs, and roughly a third of the film’s earnings go back to the theaters. Going by the standard 2-3x multiplier for box office performance, Aquaman needs to make an estimated minimum of $525 million just to break even. Given the film’s lackluster response, it appears both critics and moviegoers alike are finally ready to move on to James Gunn’s upcoming rebooted DC universe. Looking back at DC Films’s recent poor track record at the box office – Black Adam, Shazam! Fury of the Gods, The Flash and Blue Beetle – they may have been ready for some time now.

Finishing in third, Universal and Illumination’s Migration grossed $17.23 million domestically over its sophomore frame, bringing its total domestic performance so far to $54.32 million. Like Wonka, the animated adventure comedy, received a nice holiday boost of +38.4% from its prior weekend frame, earning a per-theater average of $4,488 at 3,839 locations. Altogether, the film has grossed $105.87 million worldwide against a reported production budget of $72 million. Factoring in both the film’s positive response, including a strong “A” CinemaScore from opening weekend moviegoers, and the lack of family film competition through at least January, it looks to be clear skies ahead for Migration to continue with strong legs through its theatrical run.

In fourth place, Warner Bros.’s The Color Purple earned $13.0 million domestically over its three-day weekend. Based on the 2005 Broadway musical, the 1982 Alice Walker novel and the 1985 Steven Spielberg film – all of the same name – the musical period drama opened earlier in the week on Christmas day with $18.1 million. This makes it the second best Christmas day opening, trailing only 2009’s Sherlock Holmes ($24.6 million). So far, the film has earned $45.30 million domestically against a reported production budget ranging between $90-100 million. While it still has some distance to catch up to its budget, it should be noted that its performance has yet to account for any international earnings. And, much like Migration, the enthusiastic response from both critics and moviegoers, not to mention the extended theatrical run it most likely will receive between January-Feburary during Oscar season, could help lend strong and steady legs to its overall performance.

Rounding out the top five, Columbia Pictures’s Anyone But You closed out its sophomore frame with $9.0 million domestically, bringing its total domestic run to $25.09 million. This marks a +50.0% holiday boost from its prior weekend frame, earning a per-theater average of $2,945 at 3,055 locations. Overseas, the rom-com brought in $5.80 million for a global cume of $33.39 million against a reported production budget of $25 million.

Elsewhere within the top ten, Amazon MGM Studios’s The Boys in the Boat earned $8.32 million domestically, including a $5.70 million Christmas day opening that is double its $2-3 million opening day expectations. Altogether, the George Clooney directed biographical sports drama has so far grossed $24.64 million domestically against a reported production budget of $40 million. As of now, the film’s international earnings have yet to be reported.

Lastly, in eighth place, Neon’s Ferrari, starring Academy Award winner Penelope Cruz and Academy Award nominee Adam Driver as the titular Enzo Ferrari, brought in $4.06 million domestically over its opening weekend. The biographical sports drama, which marks the return of legendary director Michael Mann in almost a decade, opened in 2,386 locations, earning a per-theater average of $1,703. Internationally, the film earned an additional $2.59 million, bringing its total extended Christmas/New Year’s opening weekend run to $14.66 million worldwide against a reported production budget of $95 million. Despite positive feedback from critics and a solid “B” CinemaScore from opening weekend moviegoers, there appears to be too much distance between what its earned so far and what it cost for Ferrari to cross the finish line successfully.

Opening this weekend, Universal and horror producing superteam Jason Blum and James Wan will kick off the 2024 film year with the supernatural horror film Night Swim.

* Total estimated worldwide gross listed in parenthesis, new releases listed in bold.

1) Wonka – $23.95 million, Week 3 ($387.16 million)
2) Aquaman and the Lost Kingdom – $19.50 million, Week 2 ($258.27 million)
3) Migration – $17.23 million, Week 2 ($105.87 million)
4) The Color Purple – $13.0 million, Week 1 ($45.30 million)
5) Anyone but You – $9.0 million, Week 2 ($33.39 million)
6) The Boys in the Boat – $8.32, Week 1 ($24.64 million)
7) The Iron Claw – $5.04 million, Week 2 ($18.22 million)
8) Ferrari – $4.06 million, Week 1 ($14.66 million)
9) The Hunger Games: The Ballad of Songbirds & Snakes – $2.90 million, Week 7 ($322.67 million)
10) The Boy and the Heron – $2.50 million, Week 4 ($128.68 million)

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