Box Office – June 30-July 2, 2023: INDIANA JONES AND THE DIAL OF DESTINY, SPIDER-MAN: ACROSS THE SPIDER-VERSE, ELEMENTAL, & More

Box Office June 30-July 2, 2023

The theatrical movie box office results for June 30, 2023 through July 2, 2023 have been released.

The Box Office

Indiana Jones and the Dial of Destiny premiered in the Number One spot at the United States box office over the weekend with $60 Million so far. That is far below projections that had this film opening up with at least $75 Million.

With a listed production budget of $300 Million, an advertising budget of about half that, costly re-shoots, and movie theaters taking about half the ticket sales, Indiana Jones and the Dial of Destiny will have to make around $900 Million at the box office just to break even.

After that point, then the film would become profitable for Disney. I don’t believe Indy 5 will get to that point (or anywhere near it), especially with the next Mission Impossible and Oppenheimer about to drop into theaters, both of which will cannibalize the dollars and audience available to Indy 5.

In my opinion, Disney should have cut their loses with Indy 4 (or not made the last two Indy films at all).

Spider-Man: Across the Spider-Verse was Number Two at the United States box office over the weekend with $11.5 Million (a 39% drop from last weekend) for $339.8 Million so far. Worldwide, the film has made over $607.2 Million.

Elemental was Third at the United States box office over the weekend with $11.3 Million (a 39% drop from last weekend) so far.

No Hard Feelings was Fourth at the United States box office for the second week in a row with $7.5 Million.

Transformers: Rise of the Beasts was Fifth at the United States box office over the weekend with $7 Million (a 40% drop from last weekend) for $136.1 Million so far. Worldwide, the film has made over $379 Million.

These films: Ruby Gillman Teenage Kraken (which prepared this weekend), The Little Mermaid, The Flash (which has officially bombed in its third week at the box office, with audiences and critics), Asteroid City, and Guardians of the Galaxy Vol 3 rounded out the top ten respectively.

Movies That Opened This Weekend

The films in the Top Ten that opened this weekend at the box office:

Indiana Jones and the Dial of Destiny is a 2023 American action adventure film directed by James Mangold and co-written by Mangold, Jez Butterworth, John-Henry Butterworth, and David Koepp.

Produced by Walt Disney Pictures and Lucasfilm Ltd. and distributed by Walt Disney Studios Motion Pictures, the film is a sequel to Indiana Jones and the Kingdom of the Crystal Skull (2008) and serves as the fifth and final installment in the Indiana Jones franchise.

The film stars Harrison Ford in his fifth and final portrayal of archaeologist Indiana Jones, with John Rhys-Davies and Karen Allen also reprising their roles as Sallah and Marion Ravenwood, respectively, from earlier films. New cast members include Phoebe Waller-Bridge, Antonio Banderas, Toby Jones, Boyd Holbrook, Ethann Isidore, and Mads Mikkelsen.

Set in 1969, the film follows Indiana Jones and his estranged goddaughter Helena Shaw trying to locate a device that could change the course of history before Jürgen Voller, a Nazi-turned-NASA scientist, can take it for himself and change the outcome of World War II.

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Ruby Gillman, Teenage Kraken is a 2023 American computer-animated action-comedy film produced by DreamWorks Animation and distributed by Universal Pictures.

It was directed by Kirk DeMicco, co-directed by Faryn Pearl, and written by Pam Brady and Brian C. Brown and Elliott DiGuiseppi.

The film stars the voice cast of Lana Condor, Toni Collette, Annie Murphy, Sam Richardson, Colman Domingo, and Jane Fonda, in the lead roles, with Liza Koshy, Will Forte, Jaboukie Young-White, Andrew Barth Feldman, Ramona Young, and Eduardo Franco in supporting roles.

The film follows a shy but kind fifteen-year-old girl named Ruby Gillman (Condor) who is desperate to fit in at Oceanside High, but when she went into the ocean by breaking her mother’s (Collette) rule with any would-be friends,

she discovers that she is a direct descendant of battle-hardened krakens who have protected the land and sea from mermaids for generations, and is also destined to inherit the throne from her commanding grandmother, the Warrior Queen of the Seven Seas (Fonda).

Next Week’s Films

Next week sees the release of: Insidious: The Red Door, Joy Ride, The Lesson, and a plethora of other films. Find my predictions on these releases in the weekly The Bottom Line column. A preview: Indiana Jones and the Dial of Destiny will be Number One at the box office for a second week.

The History of Box Office (and Profit Measurement)

“A box office or ticket office is a place where tickets are sold to the public for admission to an event. Patrons may perform the transaction at a countertop, through a hole in a wall or window, or at a wicket.

By extension, the term is frequently used, especially in the context of the film industry, as a metonym for the amount of business a particular production, such as a film or theatre show, receives. The term is also used to refer to a ticket office at an arena or a stadium.

Box office business can be measured in the terms of the number of tickets sold or the amount of money raised by ticket sales (revenue). The projection and analysis of these earnings is greatly important for the creative industries and often a source of interest for fans. This is predominant in the Hollywood movie industry.

To determine if a movie made a profit, it is not correct to directly compare the box office gross with the production budget, because the movie theater keeps nearly half of the gross on average. The split varies from movie to movie, and the percentage for the distributor is generally higher in early weeks.

Usually the distributor gets a percentage of the revenue after first deducting a “house allowance” or “house nut”. It is also common that the distributor gets either a percentage of the gross revenue, or a higher percentage of the revenue after deducting the nut, whichever is larger. The distributor’s share of the box office gross is often referred to as the “distributor rentals”, especially for box office reporting of older films.”

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