'Divergent' Ticket Sales Justify a Franchise
LOS ANGELES - Summit Entertainment's high-profile 'Divergent' arrived to solid if not spectacular ticket sales at North American theaters.
With a production budget of $85 million and a marketing campaign costing at least $50 million, 'Divergent' was positioned by Summit to become Hollywood's next young-female phenomenon: a successor to the studio's blockbuster 'Twilight' series or to the 'Hunger Games' franchise, which is managed by Lionsgate, Summit's corporate cousin.
By that measure, 'Divergent' was a disappointment. Opening-weekend ticket sales totaled an estimated $56 million, according to Rentrak, which compiles box-office data. The first 'Twilight' movie took in $75.9 million over its first three days in 2008, after accounting for inflation, while the first 'Hunger Games' movie arrived in 2012 to ticket sales of $156 million.
'Divergent' nonetheless did its job, which was to generate enough interest to introduce a major new series.
'We needed to be exactly where we ended up,' said Richie Fay, president for domestic distribution at Lionsgate, which booked 'Divergent' into theaters. 'The feeling is great satisfaction.' He added, 'Despite what other people were speculating, we always felt that mid-50s would be a great start for this new property - a great way to launch a franchise.'
Hollywood will be watching closely to see how Wall Street reacts to the opening. After 'Divergent' opened to so-so results at Thursday night advance screenings, shares of Lions Gate Entertainment fell 8 percent on Friday, to $27.60.
Summit, which is owned by Lions Gate, has a sequel, 'Insurgent,' planned for release next year, and another follow-up, 'Allegiant,' in the works for 2016. Starring Shailene Woodley and Theo James in a tale about teenage survival in a futuristic Chicago, 'Divergent' was adapted from Veronica Roth's best-selling science-fiction novel. The PG-13-rated film, which largely received weak reviews, was directed by Neil Burger.
Mr. Fay noted that 16 percent of opening-weekend ticket sales for 'Divergent' came from premium-price screenings at Imax theaters and a coming-on-strong group of competing large-format auditoriums led by the Cinemark chain. 'That means we got the fanboys to some degree,' he said. About 59 percent of the overall audience was female. Ticket buyers gave 'Divergent' an A score in exit polls.
For the weekend, 'Muppets Most Wanted' (Walt Disney Studios) was a relative flop in second place, taking in $16.5 million - about 44 percent less than 'The Muppets' grossed over its first three days in 2011. 'Muppets Most Wanted,' which cost $55 million to make, received weaker reviews than its franchise predecessor, which benefited from pent-up demand: 'The Muppets' reintroduced Kermit, Miss Piggy and their fuzzy pals to big-screen audiences after a 12-year absence.
'Mr. Peabody & Sherman' (20th Century Fox) was third, taking in about $11.7 million, for a three-week domestic total of $81 million. '300: Rise of an Empire' (Warner Bros.) grossed about $8.7 million, for a three-week total of $93.8 million.
In a fifth-place surprise, the low-budget religious film 'God's Not Dead' (Freestyle) took in an astounding $8.6 million in relatively limited release.
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