Box Office: “Capitalism” Hits 2009 High; “Coco” Not Far Behind (UPDATED)

A scene from Michael Moore's "Capitalism: A Love Story." Image courtesy of Overture Films.

According to weekend estimates, Michael Moore’s “Capitalism: A Love Story”‘s limited debut this weekend has resulted in 2009’s highest per-theater-average. On four screens, the Overture Films released took in a massive $240,000, averaging $60,000.  If that estimate holds, it will top March’s “Sunshine Cleaning” - also an Overture release that opened on four screens - which had a PTA of $54,798. 

Since opening Wednesday, “Capitalism” has grossed $306,586. Of its four theaters, it found the best numbers at Hollywood’s ArcLight ($42,004 through Saturday, full weekend estimates per theater were not available, but it should land in the neighbourhood of $65,000) and New York’s Angelika ($41,044 through Sat).

Compared to Moore’s recent films, “Capitalism” falls essentially in line the even more limited debut of 2007’s “Sicko,” which grossed $68,969 from its sole screen, while it more than doubled the $26,143 PTA (from a slightly wider 8-theater debut) that 2002’s “Bowling For Columbine” managed.  While incomparable due to its wide launch, 2004’s “Fahrenheit 9/11” grossed a stunning $27,558 per its 868 theaters, en route to becoming the highest grossing documentary of all-time.

“Capitalism”‘s real test comes next weekend, when it heads to over 1,000 theaters across North America. But this is a very strong sign heading into that, despite the film’s relatively lukewarm response from critics.  Also hopeful was the film’s large increase from Friday’s gross ($62,000) to Saturday’s ($95,000).

“We’re thrilled with this outstanding weekend,” Kyle Davies, EVP of Theatrical Distribution, told indieWIRE. “Breaking the per screen record for the year and the diversity of the audience shows us that we are in good shape for next week’s expansion.  We had the bar set pretty high for this and we even beat that!  I think people need a Michael Moore movie in times like this – something that makes you laugh and think.  It’s the best remedy available for tough times.”

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Unfortunately in “Capitalism”‘s shadow was a remarkably impressive debut care of Sony Pictures Classics’ release of Anne Fontaine’s “Coco Before Chanel.” On five screens, the film - starring Audrey Tatou as Coco Chanel - grossed $177,137, finding the fifth best per-theater average of 2009. Its $35,427 PTA puts it behind only “Capitalism,” “Sunshine,” “The Hurt Locker” and “The September Issue.” It also marks the best foreign-language debut in quite some time, eclipsing recent (and also French) benchmarks like “Summer Hours” ($24,742 PTA this past May), “Tell No One” ($21,213 PTA in July 2008) and “La Vie En Rose” ($22,481 in June 2007). John Krasinski’s “Brief Interviews With Hideous Men” also had a stellar opening weekend. On one New York City screen, the IFC Films release grossed $20,587, a per-theater-average that on a less competitive weekend could have easily topped all films.  IFC’s Mark Boxer said the film played to sold out shows all weekend at NYC’s IFC Center, and will open next weekend in Los Angeles. Other openers included Miramax’s Clive Owen starrer “The Boys Are Back,” which grossed a fair $51,000 from 6 screens, averaging $8,500, and Variance Films’ release of Sundance ‘08 alum “Blind Date” - starring Stanley Tucci and Patricia Clarkson - which grossed a weak $3,100 from a sole screen. -Check out the next page for information about holdover grosses- Loading ... Which recent theatrical opener will you try to hit up this week or next weekend? "Capitalism: A Love Story" "Coco Before Chanel" "Brief Interviews with Hideous Men" "Bright Star" "Paris" Read & React: Box Office: “Capitalism” Hits 2009 High; “Coco” Not Far Behind (UPDATED)   (1 of 2)  Next Page › Login to recommend this article » posted on September 28, 2009 |Share Login to Leave a Comment »