Iron Man 3 stole all the global box office headlines over the last two weeks, breaking records in nearly every territory and grossing over $800 million. The film has its sights set on the $1 billion global mark and might reach it in the coming weeks if it can keep up its performance.
Iron Man 3 has shown no signs of slowing down in its overseas release, with one glaring exception: Japan. Iron Man 3 lost the #1 spot at the box office in Japan during its second week in release. Japan is one of the world's major film markets, so it came as a surprise to see the superhero film relinquish the top spot to a domestic film that was enjoying its third week in theaters. Will other top global markets follow Japan's lead this weekend, or will Iron Man continue to soar?
The big question, as often seems to be the case lately, comes from China, where Iron Man 3 has already shattered box office records to reach a $79.6 million gross. Iron Man 3 has co-existed well with another blockbuster in the market, the Chinese drama So Young. The two films haven't taken any significant business away from one another, but that will likely change with the premieres of Oblivion (May 10) and the rescheduled release of Django Unchained (May 12). Django will take the May 12 release as a "better than nothing" compromise after being pulled from theaters only minutes after its original opening last month. Quentin Tarantino's Blaxploitation Western has grossed $421 million globally and will hope to reach the $500 million benchmark if the film can find an audience in China.
Oblivion opened with a strong overseas premiere last month but has experienced a steep drop-off in subsequent weeks. The Tom Cruise film has underperformed, falling behind in multiple key markets after its initial success. Oblivion is sandwiched between Iron Man and Django, an uncomfortable proposition for Tom Cruise, whose latest Mission: Impossible sequel broke through in China but floundered with the recent Alex Cross fiasco. Tom Cruise's star-power in China will be put to the test when it goes head-to-head against the already massively successful Iron Man sequel and Django Unchained's highly-publicized taboo factor. Oblivion has grossed $223 globally and could potentially reach $300 million if it gains traction in China. In the unlikely event it survives its crowded release date, a $300 million global gross would still put Tom Cruise's latest behind the global numbers of the latest Die Hard and G.I. Joe sequels.
Outside of China, Iron Man 3 will have to contend with another recognizable franchise with a loyal global following. Star Trek: Into Darkness opens in six territories this weekend, including major markets like Australia, Germany, Mexico, and the United Kingdom. The U.K. is Iron Man's third most important market, where it has already grossed $43.1 million. Mexico follows with a $38.6 million gross and Australia is the superhero sequel's seventh most important territory with $30 million. The Star Trek release could potentially cut into these markets, slowing down Iron Man 3 in vital territories as it heads towards $1 billion. If Iron Man 3 withstands the threat from Star Trek, it will cost J.J. Abrams' film a considerable amount of money from major overseas markets unwilling to dedicate as many screens to the sci-fi reboot's sequel while Iron Man is still in full force. Iron Man 3 fell 54% in Mexico and the U.K. in its second weekend. The superhero sequel saw a 56% decline in business in the same span in Australia. Iron Man 3 will have to experience an even bigger drop in those markets if Star Trek hopes to realize its overseas expectations.
These are high stakes for four of the year's biggest movies. China is still the major market for studios, but crowded release dates and the audience's attachment to domestic films is bound to disappoint at least one of the three big Hollywood films playing there this weekend. Even if Iron Man 3 continues to succeed in China this weekend, it can still see its record-setting grosses begin to slow if Star Trek: Into Darkness overtakes it in other markets.
May 9, 2013 -- Cinedigm's (NASDAQ: CIDM) DOCURAMA, the world's only multi-platform brand dedicated to documentary film, is launching a paid channel on YouTube today. The announcement closely follows the launch of the company's inaugural DOCURAMA series of film screening events currently booked in theaters across the country through June 16.
The fully-branded DOCURAMA YouTube paid channel is launching with a curated playlist of feature-length documentary films, one-quarter of which are new or recent releases. An introductory monthly subscription price of $2.99 is being offered. Content will be refreshed weekly, including films from the now-running DOCURAMA theatrical series.
Cinedigm is shifting the paradigm of the distribution business to an alternative model that merges traditional theatrical releases with new digital platforms and aggressive windowing strategies, with a focus on exclusive content and early access to new films. The new channel was developed by Cinedigm to further leverage DOCURAMA's brand imprimatur in the market place, the company's 20-plus years of content management experience, and its filmmaker-centric business practices.
"This is the start of our foray into the curated channel business," said Chris McGurk, Chairman & CEO of Cinedigm. "Leveraging our library of independent digital rights - the largest in the world - makes this a natural evolution for us and we expect to launch additional curated channels in the near future."
Docurama's YouTube Channel:
Cinedigm manages a total of over 1250 documentary films through its partnerships with producers and aggregation partners. The YouTube paid channel draws from this vast library, including more than 300 award-winning and highly acclaimed films cultivated over the past 15 years under the Docurama Films proprietary label, including Oscar nominee Hell and Back Again and recent hits Happy, Transcendent Man, Woody Allen: A Documentary, Hungry For Change, King Corn, and Sing Your Song: Harry Belafonte. In addition to the feature presentation, the YouTube channel will provide access to bonus content, including filmmaker interviews, behind-the-scenes footage and other short-form material not offered in theaters.
On April 22, DOCURAMA launched its first theatrical series, with seven new documentary films premiering over seven weeks: G-DOG, Oscar®-winner Freida Mock's profile of Jesuit Father Gregory Boyle, founder of Homeboy Industries in East Los Angeles and author of Tattoos of the Heart;¡Vivan Las Antipodas!, a cinematic innovation by Russian director Victor Kossakovsky; The Fruit Hunters, by Yung Chang (Up The Yangtze) and featuring actor Bill Pullman; The World Before Her, Nisha Pahuja's Tribeca Film Festival and Hot Docs award-winning film about two competing visions for young women in India; Charge, from the director of Faster and Fastest (Mark Neale), and narrated by actor and motorcycle enthusiast Ewan McGregor; Ping Pong, following eight senior citizens as they compete for table tennis gold, and London: The Modern Babylon, by Julien Temple (Joe Strummer: The Future is Unwritten).
Iron Man 3 continued to dominate the global box office last weekend, but its reign at #1 across the major markets was interrupted after it fell to second place in Japan. It shouldn’t be cause for alarm for the superhero film, however, as it sets its sights on the elusive $1 billion global benchmark, reserved for the biggest films of the year.
Top Ten Lists From the Major Global Markets:
Iron Man 3 fell 54% after its impressive first week at the U.K. box office, grossing $9.8 million and bringing its market total to $38.1 million. 21 and Over premiered as a welcome alternative for filmgoers that had already caught up with Robert Downey Jr.'s iron-clad superhero, entering the U.K. with a $1.2 million opening weekend. Olympus Has Fallen was the strongest hold-over of the weekend, dropping 26% and still netting $1 million to see its market total increase to $7.9 million. Pedro Almodovar's new film, I'm So Excited, had a strong opening weekend after averaging $5,566 in only 87 theaters. Almodovar's latest is the only film in this week's top ten to have played in less than 200 screens. I'm So Excited outperformed the premiere of Dead Man Down despite the fact it played in nearly 75% less locations.
Box office results for the United Kingdom. May 3-5, 2013.