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"West Side Story," Steven Spielberg's remake of
the classic musical, fell flat in its box office debut,
collecting a paltry $10.5 million from 2,820 theaters. That's
cause for concern because Disney and 20th Century Studios spent
$100 million to revive the Shakespearean love story for modern
times and stand to lose millions, unless "West Side Story"
endures at the box office through the holidays and Oscar season.
It may be possible to attract moviegoers between Christmas and
New Years, but it's a bad start for one of the most critically
acclaimed films of the year -- and one that opened exclusively
in theaters. Though every new movie musical has struggled to
entice audiences in COVID times, it's worrisome for both theater
operators and traditional studios that "West Side Story" -- one
of the most beloved stories in musical theater history and under
the direction of Hollywood's most commercially successful
filmmaker -- sold fewer tickets than "In the Heights" ($11.5
million debut), a lesser known song-and-dance property that
premiered simultaneously on HBO Max. "West Side Story" at least
earned more than Universal's "Dear Evan Hansen" adaptation,
which premiered to $7.4 million in September while playing
exclusively in theaters. But that's not exactly a high bar
considering "Dear Evan Hansen" was skewered by critics. However,
"In the Heights" and "Dear Evan Hansen" cost far less to make
than "West Side Story."
"In the past, we've seen musicals connect with critics and
audiences and go on a run," says David A. Gross, who runs the
movie consulting firm Franchise Entertainment Research. For
example, "Chicago" opened to $10.8 million in 2003 and
ultimately earned $170 million, while more recently, "The
Greatest Showman" debuted to $8.8 million and kept chugging
along until revenues hit $170 million.
"But that was then, and this is now. Moviegoing conditions
remain impaired," Gross says. "If 'West Side Story' is going to
be profitable, it will need to connect internationally as well
domestically."
After October set pandemic box office records, thanks to "Venom:
Let There Be Carnage" and "No Time to Die," movie theater
attendance has taken a downturn. That will change next week when
Sony's comic book sequel "Spider-Man: No Way Home" hits cinemas.
What remains clear, however, is that older audiences haven't
been eager to return to the movies. Most of the tentpoles that
have been commercially successful have been catered to younger
males.
"West Side Story" looks like a blockbuster compared to this
weekend's other new nationwide release, STX's athletic drama
"National Champions," which went almost entirely unseen despite
playing on more than 1,000 screens. The film, starring Stephan
James and J.K. Simmons, flopped in its debut, bringing in
$300,000 from 1,197 theaters -- an embarrassing result even by
COVID-19 standards.
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