'Kung Fu Panda 3' And Super Bowl 50 Tackle Weak Box Office Weekend

Traditionally movie studios don't like releasing big tentpoles over Super Bowl weekend because audiences are usually "distracted" by the big game. This year was no different; while three new films opened, none did anything stellar.

Kicking It Up A Notch With 'Kung Fu Panda 3'

The big winner was "Kung Fu Panda 3," which repeats as the top performer at the box office. The DreamWorks Animation Skg Inc (NASDAQ: DWA) produced and Twenty-First Century Fox Inc (NASDAQ: FOXA) distributed animated film earned another $21 million, bringing its total to $69 million.

Related Link: Fox's "Kung Fu Panda 3" Number One Again With $44 Million Globally

Analysts have noted that by comparison to the second installment, the totals are off by about $30 million, but then again, "Kung Fu Panda 2" saw a summer release when kids are typically out of school. The threequel had to be a self-starter in a unfamiliar timeframe and is actually doing quite well.

The film will further benefit from the three-day weekend next week, but is likely to lose the top slot to "Deadpool" or "Zoolander 2."

New Releases

Among the new releases, Comcast Corporation (NASDAQ: CMCSA)-Universal's "Hail, Caesar!" led the pack with $11.4 million, which was just a bit above estimates. Produced for just over $20 million, the Coen Brothers-directed picture should be able to break even before the end of its run.

The same can't be said for Sony Corp (ADR) (NYSE: SNE)'s $28 million budgeted "Pride & Prejudice & Zombies," which made less than half of its estimated $10 million to $12 million projection range. With $5.2 million and a sixth place finish, it has to be disappointing to Sony and its investors who just saw its "The Fifth Wave" falter the other week.

The final new release, "The Choice," was really fail-proof, as Lions Gate Entertainment Corp. (USA) (NYSE: LGF) acquired it for just $10 million. The film, based on a Nicholas Spark romance novel, pulled in around $6 million and should break even over the next week.

Expectations

The box office should see a massive influx this week, as the tentpoles come back with a passion, including Fox's "Deadpool," Viacom, Inc. (NASDAQ: VIAB)-Paramount's "Zoolander 2" and Time Warner Inc (NYSE: TWX)-Warner Bros.'s "How To Be Single."

Early expectations have it as a race between "Deadpool" and "Zoolander 2," with the edge going back and forth, but "Deadpool" carrying the stronger momentum.

Image Credit: By Eva Rinaldi - http://www.flickr.com/photos/evarinaldiphotography/5828447192/, CC BY-SA 2.0, Wikimedia Commons