Let's talk about this 24 million second weekend...
That's pretty bad. A 60% drop your second weekend generally means your film is fairly frontloaded, and will likely see a similar drop in week three, but should eventually stabilize in later. However, given next week sees the release of
Suicide Squad which will be appealing to the same demographic, it could result in a box office death spiral for
Beyond. This film will struggle to make $160 million domestically, and it isn't exactly killing it in foreign markets either.
There are more than a few reasons for the state of
Star Trek Beyond's box office:
1) A truly bad release schedule. Late July releases are often a dumpster fire for studios looking to cash in at the last minute on films (often of dubious quality), and while Mission Impossible was a huge hit last year for Paramount with a similar release schedule,
MI had more of a track record with mainstream audiences and Tom Cruise is still a big international star. Then add surprise hits like
Life of Pets with the pending release of
Jason Bourne and
Suicide Squad, and you have a crowded field to compete against.
2) Star Trek as a brand, historically, does not equate the mega box office Paramount is seeking. Consider the Kelvin Timeline at it apex with
Into Darkness, still managed less money worldwide than Marvel's little known property,
Ant Man; not exactly a house hold name, and was a film many predicted would be the beginning of the end of the super hero film fad.
3) Paramount needs to temper their box office expectations, along with cutting budgets. Paramount needs to come to terms with the fact that Trek is NEVER going to be the $700 million worldwide money making tentpole they are looking for.
Transformers can fill that void,
Trek will never be that franchise. But with the right script, and a solid, entertaining film,
Star Trek can easily bring in $380-460 million worldwide with each outing. Unfortunately, with a $180 million budget the potential for profits are greatly diminished. The old Hollywood standard is that for a film to be profitable after all the expenses of production, promotion, and distribution, a film needs to make roughly 2 to 2 1/2 times its budget for the studio to break even. In other words, for Paramount to see a profit from
Beyond (with its budget of $180 million), the movie needs to gross, at a minimum, $360 million worldwide (and realistically that number is probably much higher), and with US box office fizzling that puts the perceived success of the film in jeopardy.
The reality is the so-called boycott of
Beyond had nothing to do with what is going on with
Beyond's box office. It was a poor release schedule, mixed with some lazy promotion of the film, and Paramount's overly ambitious expectations that will ultimately sink the film franchise. If they can go back, reorganize, and find a director who can bring an entertaining Trek film in on a max budget of $120 million, then the future of the film part of the franchise will be secure. But as long as Paramount throws huge budgets at Trek, the perception will be Trek is under performing. The fact is its not... Trek is basically doing similar box office to past Trek films when you adjust for inflation. The only difference is Paramount is spending way more money than before and are expecting far bigger returns than any Trek film has in franchise history.
Consider for a moment the Trek film that is generally considered the best of the franchise,
Star Trek II: The Wrath of Khan. In today's dollars TWoK would have grossed $232 million at the box office in the US alone, at a cost of only $28 million (announced budget was $11.2 million). $180-250 million domestic takes, with another $200 million overseas are realistic numbers that the Star Trek movie franchise can achieve, anything beyond that (no pun intended) is simply wishful thinking on Paramount's part.
EDIT: For the person who brought up the original July 8th release date. Not sure that would have been that much better as that was opening weekend for
Secret Life of Pets which was a buzzsaw. June 24th would probably have been better, and you would have had the July 4th weekend the following week. However, I suspect the studio thought Independence Day was going to be huge, so they avoided it, but ID fell flat and bombed. Honestly looking back, July 1st would have probably been the optimal release date for
Beyond.
Yancy