Box Office: 'The Conjuring' hits big; 'R.I.P.D.' bombs bigger

Credit: Universal

The Hollywood Reporter has the weekend box office numbers in, and it's another major blow for the summer tentpole marketing strategy employed by the major studios, as all the advertising in the world did little to stem the tide of hemorrhaging money embodied in the summer's latest (and perhaps biggest, before it's all said and done) bomb, R.I.P.D.

The action-comedy starring Jeff Bridges and Ryan Reynolds as deceased policemen protecting the world of the living from rogue spirits, delivered a catastrophic $12.8 million opening, limping to a seventh-place finish at the weekend box office. The film cost at least $130 million to produce. Its failure is likely to lose Universal tens of millions of dollars. However, there is a silver lining in that Universal remains on course for its best year ever, considering the profits it has earned from the blockbuster success of Fast & Furious 6 and Despicable Me 2. In addition, the studio was able to mitigate some of the damage of R.I.P.D.'s underwhelming box office by scaling back on its marketing budget once it became apparent (through buzz and other industry indicators) that the film wouldn't be successful. Even as R.I.P.D. delivered disastrous numbers, Universal still reached a milestone, celebrating $1 billion in domestic ticket sales over the weekend. The studio reached this milestone faster than any previous year -- and they weren't the only ones to achieve this notable accomplishment.

Warner Bros. also crossed $1 billion in domestic box office revenue -- for the 13th year in a row -- thanks in large part to the performance of The Conjuring, a co-production with New Line Cinema. The film raked in $41.5 million dollars, already making back its $20 million budget. Directed by James Wan, the pic scored the biggest opening ever for an original R-rated horror film. The movie is based on a true story, and stars Vera Farmiga and Patrick Wilson as paranormal investigators who help a family terrorized by a malevolent force.

"It show that fresh material attracts audiences in a big way. The real-life aspect makes it look cool and the movie scares the stuffing out of you," said Warner Bros. Executive Vice President of Domestic Distribution Jeff Goldstein.

The success of The Conjuring also took a bit of the sting off of WB and Legendary's big-budget underperformer, Pacific Rim, which saw a 57% drop in its second weekend, taking in $16 million for a disappointing domestic total of $68.2 million. However, the Guillermo Del Toro-directed pic is still doing better overseas, grossing $34.8 million from 48 markets for an international total of $110.3, bringing the worldwide total to $178.5 million.

However, R.I.P.D. wasn't the only big-time disappointment for major studios this weekend, as both Turbo and Red 2 underperformed domestically.

From Dreamworks Animation and 20th Century Fox, Turbo grossed $21.5 million for the weekend to come in No. 3, although it brought in $31.2 million over a five-day stretch, as the film opened on Wednesday. But in weekend box office, Despicable Me 2 remained the top animated offering. The underperformance of Turbo marks one of the lowest domestic openings for a Dreamworks Animation film, coming in just behind the $32.3 million opening of Rise of the Guardians last November. That said, the film is off to a stronger start overseas, raking in $22.6 million from 28 international territories.

As for the rest of the box office, Despicable Me 2 continued to pull in big numbers in its third weekend, coming in at No. 2 with $25.1 million, bringing its domestic total to $276.1 million. Overseas, the film earned an extra $35.4 million from 50 territories, pushing its international total to $308.4 million. This brings the film to a worldwide total of $584.6 million.

Red 2 took the No. 5 spot with $18.5 million, which is weaker than the $21.7 million opening of Red in 2010, although the latter film opened in October. In addressing the perception that his company made a mistake aiming for a summer release, particularly given the film's $84 million cost, Summit's distribution chief Richie Fay remained optimistic about the film's prospects.

"Moviegoing is certainly younger and more impulsive this time of year. I do think we will catch up with Red, and we'll have great midweek business as adults turn out," said Fay.

Full Top Ten Box Office via Box Office Mojo:

1. The Conjuring ($41,530,000)
2. Despicable Me 2 ($25,059,000)
3. Turbo ($21,500,000)
4. Grown Ups 2 ($20,000,000)
5. Red 2 ($18,500,000)
6. Pacific Rim ($15,955,000)
7. R.I.P.D. ($12,763,000)
8. The Heat ($9,325,000)
9. World War Z ($5,200,000)
10. Monsters University ($5,005,000)