Word of Mouth

As Hollywood insiders and movie critics ponder what epic movies will make the grade at this year’s Oscars, executives at Dimension Films and scores of teenagers across America are wetting their lips in anticipation of this weekend’s debut of “Scream 2,” which has quietly become one of the most talked-about offerings of the season.

The suspense thriller is, as they say in Hollywood, tracking off the charts, meaning audience polls indicate that the box-office prospects for the sequel to last year’s surprise hit are enormous.

Industry experts are predicting that based on the rabid appetite for this movie, “Scream 2” could open to a record $25 million or more on this traditionally weak moviegoing weekend when people are more concerned with shopping and holiday parties than going to their local theaters. The biggest December opening gross ever was last year’s “Beavis and Butthead,” which debuted with $20.1 million.

Market research shows that 80% of the teens who plan to go to the movies this weekend are headed for “Scream 2.”

Bob Weinstein, head of Dimension, the successful genre film label of Disney-owned Miramax Films, says, “This is off the Richter scale.”

Even his competitors are remarking over the sequel’s tracking figures, which are compiled by the National Research Group and aren’t meant for public consumption.

“There’s not a breathing teenager out there who isn’t going to this movie. It’s tracking like it’s from a different galaxy,” says one rival.

The original “Scream,” released last December, grossed $103 million in the U.S. and Canada alone and $75 million overseas.

Not only is screenwriter Kevin Williamson’s intended trilogy Hollywood’s newest franchise, it could prove to be one of the most profitable movie series to come along in years given its relatively modest production costs.

Williamson also wrote this year’s popular teen thriller “I Know What You Did Last Summer,” which opened to $15.8 million and has grossed nearly $70 million to date.

“Scream 2” cost $24 million to make and will cost $25 million to $30 million to market, while “Scream” cost $14 million and about $25 million to market.

The success of such films is a reminder that while Hollywood studios now routinely spend $80 million to $100 million or more in search of the occasional global bonanza, a smaller-budget movie that connects with the public can be extraordinarily profitable.

The sequel reunites director Wes Craven and Williamson behind the camera and all the “surviving” cast members from the original, including Neve Campbell, Courtney Cox and Jamie Kennedy. The tale, set on a small Midwestern college campus, picks up two years after the first movie ends.

Weinstein, who co-founded Miramax with brother Harvey, made the unusual decision to release the sequel less than a year after the original debuted when it became apparent that Dimension had a phenomenon on its hands. The sequel was so highly anticipated that within five hours after the first 40 pages of the script for “Scream 2” were delivered, they appeared on the Internet. There are at least four Web sites devoted solely to “Scream” fans.

“Based on the reaction to the first movie, we realized this was more than a sequel,” said Weinstein, in Los Angeles this week for the film’s opening.

“It’s playing more like a continuing serial because it’s the same characters who survived the first movie, and people have an affinity for these characters,” he said, adding that test audiences for “Scream 2” cheer when cast members first appear on screen.

Test audiences aren’t the only ones who like the movie. The reviews have been positive. Entertainment Weekly gave the film an A-minus. Siskel and Ebert gave it two thumbs up and the Hollywood trade paper Daily Variety said, “The sequel has a winning commercial recipe.”

Weinstein said he and his Dimension team wanted to capitalize on the momentum of the original movie, which stayed in theaters for 26 weeks, shipped more than 500,000 video units in June and was one of the top 10 rentals for 10 weeks this year. As part of its continuing marketing and publicity strategy, a sell-through video was released 10 days ago through Disney distribution arm Buena Vista.

At that time, Dimension also released the soundtrack for “Scream 2,” featuring cuts from hot artists like rapper Master P and alternative rockers Foo Fighters.

“We’re really hitting the music hard this time out,” said Weinstein.

Last Friday, MTV aired an hourlong special on the sequel that featured the entire cast.

There’s no question “Scream’s” core audience is teens, but Weinstein doesn’t believe that means men and women over 25 will stay away. Dimension is going after older viewers by promoting the film’s strong reviews and getting attention on morning talk shows.

“Scream 2” opens amid little, if any, direct competition this weekend from other new releases in the market. Steven Spielberg’s “Amistad,” 20th Century Fox’s sequel “Home Alone 3” and Disney’s “For Richer or Poorer” all appeal to different demographics.

So, what exactly is “Scream’s” appeal?

“It covers every base,” in Weinstein’s view. “It’s an intelligent movie. It doesn’t pander to teenagers. It will scare you. Entertain you. Make you laugh and at the same time make you think. It’s a classic whodunit.”

Many agree the “Scream” movies defy description as typical slasher fare.

“It breaks new ground. It’s like ‘Pulp Fiction,’ ” suggested Weinstein, referring to Quentin Tarantino’s smash hit that Miramax released three years ago.

Weinstein said that while he was confident from the get-go that “Scream” would be a hit, he had no clue it would become a phenomenon.

“It’s taken on a life of its own,” he said, beaming.

REVIEW OF ‘SCREAM 2’: F1

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Something to Shout About

Hollywood’s newest franchise, from Miramax’s Dimension Films genre label, could potentially be one of the most profitable movie series to come along in years based on its relatively moderate costs.

The sequel, “Scream 2,” which opens nationwide today in more than 3,100 theaters (representing at least 4,000 screens), is the second in a trilogy from screenwriter Kevin Williamson and directed by Wes Craven.

The original “Scream,” released in theaters last December, was a huge surprise hit and has become a teen phenomenon.

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Not To Mention. . .

* The suspense thriller shipped more than 500,000 video units in June (approximate gross: $20 million) and was one of the top 10 video rentals for 10 weeks this year.

* Two weeks ago, the sell-through video was released through Miramax parent Disney’s Buena Vista Distribution unit. (Expected net: $1.5 million to $2 million).

* “Scream 2” cost $24 million to produce and will cost $25 million-$30 million to market. The film is expected to out-gross the original.

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Screaming All The Way to the Bank

Production: $14 million

Marketing: $25 million

Domestic box-office gross: $103 million

Overseas gross: $75 million.