WB Overestimates 'Speed Racer' and Looks Bad Doing It
Yowsers, this has to be embarrassing
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Hey Trixie… I'm sad… |
Nikki Finke at Deadline Hollywood Daily posted yesterday a quote from an anonymous Fox representative speaking of the estimated $20.2 million earned by Warner Bros. release Speed Racer saying, "That's a very aggressive Sunday estimate to try and claim 2nd." Well, looks like it was indeed very aggressive.
Today Box-Office Mojo updated their numbers from the weekend with actual figures and low-and-behold there is Speed Racer dropping below Fox's What Happens in Vegas to the #3 spot with not $20.2 million, but a mere $18.5 million. Almost $2 million less than estimated and just over half of what the film was originally tracking at. Granted tracking numbers began to dwindle as reviews and bad buzz hit the scene, but this now makes Speed Racer a rather gigantic flop considering the majority of kids won't be flocking to the colorful race flick this weekend, instead opting for the family fare The Chronicles of Narnia: Prince Caspian, already tracking to hit somewhere in the mid-$60-$70 million range. Happy numbers for Disney considering the chatter on the film has been relatively quiet in comparison to other summer blockbusters.
Is this a big deal? Normally it would certainly be a big deal since a lot of PR power is placed in box-office rankings now days and it won't reflect too well on Warner. However, in this case, Iron Man stayed at the top spot and neither Speed Racer nor What Happens in Vegas could claim the weekend's #1 film. Vegas can still call itself the "#1 Comedy" so that isn't affected. Speed can even call itself the "#1 kid's film" if they wanted to take it that far.
It simply makes me wonder that if they did inflate the numbers intentionally what did they really gain? They still got clobbered by Iron Man and came in way under expectation. It doesn't make a whole lot of sense.
The original figure is sure to come under question, and most likely without answer, especially since, as Finke reported only minutes ago, most studios had Racer pegged around an estimated $19.7 million.
Will this have a lasting effect? Not on the industry although some evil glares may be shared in the cigar bar. However, Finke is claiming Speed star, Emile Hirsch dropped United Talent today and has optioned to go without an agent. A source told Finke, "It's further evidence how talent is nervous in this town. This is a total shocker."
Hirsh had been with UTA for seven years.
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