'Speed Racer' not fast enough for 'Iron Man'
published: Monday | May 12, 2008

Iron Man - Contributed

LOS ANGELES (AP)

Speed Racer was lapped in its opening weekend at the box office as Iron Man continued to fire its jets with $50.5 million in ticket sales, according to studio estimates on Sunday.

The anime-inspired race movie edged into the No. 2 spot with $20.2 million, slightly ahead of the 20th Century Fox comedy What Happens in Vegas, which debuted at $20 million.

"Our tracking was stalled toward the end," said Dan Fellman, president of Warner Bros theatrical distribution of market surveys before the Speed Racer opening.

Fellman added Speed Racer would have difficulty recouping its $120 million budget. "Unfortunately, it didn't perform to our expectations," he said.

Speed Racer was panned by many film critics and was made by the Wachowski brothers, best known for the Matrix franchise.

Sandwiched

What Happens in Vegas, a romantic comedy that cost $35 million and stars Cameron Diaz and Ashton Kutcher, shot the gap between the action flicks, said Chris Aronson, senior vice-president at 20th Century Fox.

"We were sandwiched between the comic book movie of Iron Man and Speed Racer," Aronson said. "We come along with a character-driven movie in what is now considered summer and it's just a great result."

Revenue for Marvel Studios' Iron Man slipped just 49 per cent in its second week in theatres, a respectable showing considering its massive opening, said Paul Dergarabedian, president of tracking firm Media By Numbers LLC.

"Iron Man is basically pulling everybody's audience. It's really dominating the marketplace," he said.

Revenue still down

Five of the top 10 grossing movies were comedies, including Sony Pictures' Patrick Dempsey-led film, Made of Honor, which took in $7.6 million in its second week for fourth place.

The weekend's total domestic box office gross hit $128 million, up 21 per cent from last year. But year-to-date revenue was still down 2.5 per cent at $2.93 billion, while attendance was off 5.3 per cent.

Over the next few weeks, several big movies will take a shot at knocking Iron Man off its perch, starting with The Chronicles of Narnia: Prince Caspian, opening May 16, and Indiana Jones and the Kingdom of the Crystal Skull on May 22.

1. Iron Man, $50.5 million.

2. Speed Racer, $20.2 million.

3. What Happens in Vegas, $20 million.

4. Made of Honor, $7.6 million.

5. Baby Mama, $5.8 million.

6. Forgetting Sarah Marshall, $3.8 million.

7. Harold & Kumar Escape from Guantanamo Bay, $3.2 million.

8. The Forbidden Kingdom, $1.9 million.

9. Nim's Island, $1.3 million.

10. Redbelt, $1.1 million.