J.K. Rowling’s ‘Fantastic Beasts’ expected to dominate weekend box office with at least $70 million in ticket sales
It may not be quite “Harry Potter,” but J.K. Rowling’s highly anticipated new movie is getting ready to cast a levitation spell on the global box office.
“Fantastic Beasts and Where to Find Them,” a spinoff from the wizarding phenomenon, is expected to gross at least $80 million in ticket sales from the U.S. and Canada this weekend, according to people who have reviewed pre-release audience surveys.
Warner Bros. is projecting a slightly lower debut of $70 million to $75 million. That would be an impressive start for a film that inhabits the same universe as Rowling’s beloved book series, but features a new cast and takes place decades before the young Potter enrolls at Hogwarts.
Prospects are surely benefiting from continued audience appetite for anything from Rowling’s imagination, plus largely favorable reviews from movie critics.
“Harry Potter” movies were a huge part of Warner Bros.’s portfolio during their eight-film run, grossing $7.7 billion in worldwide ticket sales. “Fantastic Beasts” probably won’t top the openings for any of the “Harry Potter” movies, though.
Nonetheless, the studio has placed a big bet on its new movie, which cost an estimated $180 million to produce and is the first of as many as five movies.
“Fantastic Beasts” could gross as much as $125 million internationally this weekend, according to analysts.
“Fantastic Beasts” follows Newt Scamander (Eddie Redmayne), who joins a secretive group of wizards and witches in 1920s New York. David Yates, who directed four “Harry Potter” movies, made the new picture from Rowling’s screenplay.
It will surely replace Marvel’s “Doctor Strange” as the No. 1 movie in the country, now that the superhero film has pulled in $494 million worldwide.
Coming-of-age comedy-drama “The Edge of Seventeen” will try to draw young adult audiences, probably grossing $10 million through Sunday. That would be a solid start for STX Entertainment’s film about a high school girl whose life gets awkward when her best friend starts dating her older brother.
The movie, produced by Oscar-winner James L. Brooks, cost $9 million to make and has earned mostly positive reviews.
Probably less fortunate this weekend is “Bleed for This,” a boxing drama from Open Road Films starring Miles Teller. The R-rated film is expected to gross $5 million.
Sony Pictures and its TriStar label are also embarking on a nationwide expansion for Ang Lee’s experimental war drama “Billy Lynn’s Long Halftime Walk.” Those who have read tracking surveys expect a tepid haul of $3 million to $5 million for the film that cost $40 million to make after tax breaks.
The acclaimed “Life of Pi” director’s latest offering was shot in an ultra-fast frame rate, giving it a strikingly different visual impact, according to critics. Only a couple of U.S. theaters are equipped to show the movie in the director’s preferred format, which includes 3-D and 4K resolution.
Follow Ryan Faughnder on Twitter for more entertainment business coverage: @rfaughnder
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