Pacific Rim $9M Opening In China Biggest Ever For Warner Bros: Sequel Likely
EXCLUSIVE: Ive just learned that momentum is building for a Pacific Rim based on the international box office for the Legendary Pictures/Warner Bros summer tentpole. The latest development is the 3D sci-fi actioners Wednesday opening in China to a record-breaking $9M. Thats a new high for any Warner Bros release and 23% bigger than for any Harry Potter film. Pacific Rim grossed a huge 70% of market share there. This is after the pic broke through to become the #1 film internationally on July 19-21 as it rolled out into less than half the global territories. Besides China, Pacific Rim today released in Spain and Japan, and August 9th in Brazil. The result is that screenwriter Travis Beacham (who had the idea for the film) and co-scribe/director Guillermo Del Toros film based on Legendarys homegrown comic book will likely have a sequel. No one is yet saying this movie is going to turn a profit due to the high cost of its Industrial Light & Magic CGI which sent the budget to $180M-$220M. Unfortunately, U.S. theatrical sales are not expected to exceed $100M all in so overseas coin was crucial. But international was always a big part of Pacific Rims strategy in a crowded summer marketplace. After Sunday the pics foreign cume is $140M from 52 territories and its worldwide total is $224M. As Ive said before, Legendarys mega-financier Thomas Tull has the luxury of mining this marginal outcome into a franchise. Warner Bros underwrote 25% of the film and receives the global distribution fees.