Box Office Palooza, Weekend Update: The Force Took a Christmas Nap -- B. Riley FBR (108.67)
Christmas weekend domestic box office came in meaningfully lighter than they anticipated, mainly because Disney's Star Wars: The Last Jedi fell much more in its second weekend than they had anticipated. This chops over a percentage point from their 4Q17 domestic box office estimate, which they now model up only 0.9%, a big step down from hopes early in the year for robust growth in the quarter. This final week is big, however, and there is room for notable variance up or down in 4Q17 actuals, depending on how films hold for the week. Domestic receipts for the three-day weekend ending Dec. 24 totaled $165 million, a 4% YOY decline that was $52 million lower than their projection. While Jedi held first in its second weekend, the 69% drop from the opening weekend to $68 million was $31 million below their estimate. Opening misses by Pitch Perfect 3, The Greatest Showman, and Father Figures drove the balance of the variance. A contributing factor is that Christmas Day -- a large day for movie-going -- was included in this weekend's tally, but not in last year's