Quentin Tarantino's new epic, Inglourious Basterds (sorry, spell-checker), was the top film at domestic theaters this past weekend, according to Boxofficemojo. Distributed by The Weinstein Company, Basterds took in around $37 million, as of early estimates.
Last week's number-one flick, Sony's (NYSE: SNE) District 9, dropped to second place this time around, but don't feel too badly for the project. The cumulative gross on it is well beyond $70 million at this point. A $100 million domestic take should be a lock. Then again, $100 million isn't what it used to be; still, the movie supposedly didn't cost a ton of money, so perhaps the studio will do okay financially (see my previous box-office article for a discussion on budgets, as well as an insightful comment from a reader on the subject).
Coming in third was Viacom's (NYSE: VIA) G.I. Joe: The Rise of Cobra, which has a total take so far of about $120 million. Hasbro (NYSE: HAS) is pleased about that, certainly, although I'm sure everyone involved with Cobra would have been happier with a higher take by this point in the release. Fourth was Time Warner's (NYSE: TWX) The Time Traveler's Wife.
Basterds opening was clearly a relief for The Weinstein Company. As this article from The New York Times correctly states, the studio hasn't exactly been winning over audiences with its creative model. Filmmakers Bob and Harvey Weinstein, who were the driving force behind Miramax before they left the Disney (NYSE: DIS) fold, would surely love to increase their company's profile with a bunch of blockbusters. I'd have to believe they have dreams of either being bought out by one of the majors or executing an initial public offering sometime in the future. First, though, they need to increase the value of their brand and their library. That will take some effort.
How will Basterds do next weekend? So far, word seems pretty good on the movie. If it holds up well, maybe it'll approach the level of Tarantino's Pulp Fiction. The Weinstein brothers are, no doubt, praying for this.
Disclosure: I own Disney; positions can change without notice.
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