Korea Box Office: ‘Ant-Man and the Wasp: Quantumania’ Leads Weekend

Patrick Frater Asia Bureau Chief Warner Bros. Discovery and Japan’s U-Next have announced an extension of their relationship with a renewed deal to supply content to the SVOD platform. The agreement sees U-Next continue as the streaming home of HBO in Japan. Featuring exclusive content rights for HBO, HBO Original and HBO Max Original series, the strengthened agreement includes: current and future seasons of HBO’s “House of the Dragon,” “The Last of Us” and “Succession” as well as returning HBO Original and HBO Max Original series “True Detective: Night Country,” “Winning Time: The Rise of the Lakers Dynasty” and “And Just Like That…”

Patrick Frater Asia Bureau Chief Saudi Arabia’s sovereign wealth fund Public Investment Fund (PIF) has increased its stake in Japanese film and TV studio Toei Company, from 5% to 6.03%, according to a report by the Reuters financial news agency. The move comes shortly after Toei published a ten-year plan for international expansion. Toei includes film and TV production operations, the T-Joy cinema chain and Toei Animation. Last month, it said that it had beaten its film revenue record, thanks to the success of titles including “The First Slam Dunk,” “The Legend of Butterfly” and “One Piece Film Red.” The stake increase also follows PIF’s February announcement that it had increased its stake in Japanese games and console maker Nintendo to 8.26% and that (along with the Singapore state fund GIC) was a buyer of a $966 million bond issue from Korean entertainment-tech firm Kakao Corp.

Patrick Frater Asia Bureau Chief Global streaming operation Netflix is forecast to spend $1.9 billion on local content in the Asia-Pacific region this year as group revenue from the region accelerates to 12%, according to a new report. The content investment spending figure represents a 15% hike. Netflix will grow revenues this year by 12% year-on-year to exceed $4 billion compared with 9% growth in 2022, says a new report published on Monday by Media Partners Asia.

Patrick Frater Asia Bureau Chief Weekend honors at the South Korean box office went to the Japanese animation film “Demon Slayer: Kimetsu No Yaiba – To The Swordsmith Village,” the latest installment in the “Demon Slayer” film and TV franchise. It earned $2.31 million between Friday and Sunday, for nearly a quarter of the total weekend cinema business, according to data from Kobis, the tracking service operated by the Korean Film Council (KOFIC).

Patrick Frater Asia Bureau Chief Netflix and Korean public broadcaster MBC on Thursday defeated a court application for an injunction to stop the airing of their documentary “In The Name of God: A Holy Betrayal.” The 8-part series began airing from Friday (March 3). It is a Netflix Original, meaning that the streamer has global rights, including in Korea. The show examines “the chilling true stories of four Korean leaders claiming to be prophets [and] exposes the dark side of unquestioning belief.” Among its subjects is Christian Gospel Mission, also known as Providence, and also known as Jesus Morning Star, or JMS. It shares those initials with its controversial leader Jeong Myeong-seok (aka Jung Myung-seok) who is currently awaiting trial in Korea for sexually assaulting some of his female followers.

Patrick Frater Asia Bureau Chief HYBE Corp., the talent firm behind K-pop sensation BTS, has launched a campaign to woo the shareholders of SM Entertainment, the rival Korean talent empire in which it is poised become the largest single shareholder. In a letter and video package, issued Thursday, HYBE said that it was launching a campaign website detailing its business strategy and the ways in which it plans to prioritize SM shareholders. The documents directly criticized SM’s current management and also struck out at Korean entertainment-tech giant Kakao, with which SM has recently struck an alliance.

Rebecca Rubin Film and Media Reporter “Ant-Man and the Wasp: Quantumania” took a sizable hit in its sophomore outing at the box office. Ticket sales for the third Marvel movie starring Paul Rudd’s subatomic hero were down 69% from its $105 million debut, resulting in the biggest second-weekend drop in the franchise’s history. That fall has inspired plenty of debate among analysts and experts: Is the film’s performance a blip or an inflection point in Hollywood’s biggest property? The answer is likely somewhere in between, according to senior Comscore analyst Paul Dergarabedian. “As second weekend drops go, anything in the 70% realm is pretty significant,” says Dergarabedian. “But movies that open with over $100 million are generally front-loaded. In some cases, ‘the bigger they are, the harder they fall’ comes into play.”

Patrick Frater Asia Bureau Chief “Ant-Man and the Wasp: Quantumania” held on to top spot at the South Korean box office. But the overall market continued to soften despite a slew of new release titles. Nationwide theatrical grosses totaled just $7.26 million. That made it the slowest box office weekend in over three months. “Quantumania” collected $2.0 million between Friday and Sunday, according to data from Kobis, the tracking service operated by the Korean Film Council (Kofic), and enjoyed a 27% market share. The second weekend increment lifted its 12-day total to $10.6 million. Long-running Japanese animation title, “The First Slam Dunk” earned $1.36 million in its eighth weekend on release. Since Jan. 4 it has accumulated $28.0 million.

“Batman v. Superman: Dawn of Justice” in 2016.With a 10-day total of $164 million, “Quantumania” should have enough momentum to cross the $200 million mark at the domestic box office, but with such a steep drop it is now questionable whether the film will have enough fuel against stiff March blockbuster competition to even pass the unadjusted $622 million global box office total of the last “Ant-Man and the Wasp” back in 2018.

Ant-Man and the Wasp: Quantumania” is taking a greater toll on its box office than anticipated. The film grossed just $8.2 million on its second Friday — a colossal 82% drop from its $46.4 million opening day — and its weekend total is projected to drop 71% from $106 million last weekend to $30 million this weekend.

J. Kim Murphy The box office can be an institution of simple pleasures. Hollywood releases the story of a rampaging bear drugged out of its mind and — what do you know? — the people roll out. “Cocaine Bear” drew a solid $8.6 million opening day gross from 3,534 theaters, a figure that includes $2 million in previews on Thursday. That places the Universal release ahead of projections heading into the weekend, which had the gory comedy pegged at a debut between $15 million and $17 million. But a fun online marketing campaign and a killer premise have given the film a strong position, with a debut north of $21 million now in the cards. That would mark an auspicious kick-off for “Cocaine Bear,” which carries a production budget of $35 million. Reviews have been a bit all over the place; the film carries a 51% approval rating from top critics on review aggregate website Rotten Tomatoes. Audiences are also a bit lukewarm, as the comedy landed a “B-” grade through research firm Cinema Score, though a middling grade is fairly standard for a genre release with a horror slant. But, at the end of the day, “Cocaine Bear” is titled “Cocaine Bear”; the straightforward premise is now a proven winner and audiences can only see the film to believe it.

slated to open somewhere in the mid-teens, with the possibility of hitting $20 million in ticket sales this weekend. For a comparison, the Christmas action comedy “Violent Night” made $1.1 million in Thursday preview showings to kick off a $13 million opening weekend. Directed by Elizabeth Banks, Jimmy Warden’s stranger-than-fiction screenplay tells the story of Cokey the Bear, a Black bear who in 1985 consumed a large amount of cocaine a drug runner had dropped into a Georgia forest.

Jordan Moreau “Cocaine Bear” is snorting up a solid opening weekend. The R-rated action-comedy earned $2 million in Thursday previews at the domestic box office. It opened in 3,000 North American theaters Thursday night and will expand to 3,534 on Friday. Universal’s bloody, real-life tale about a black bear on a cocaine-fueled rampage is projected to open with $15 million to $17 million this weekend. Some predictions have it opening with as much as $20 million, thanks to its positive word-of-mouth (or word-of-snout) and memeability online. The mid-budget film cost roughly $35 million, with much of it used on the CGI bear, so a launch in the upper teens would be a good sign.

Patrick Frater Asia Bureau Chief HYBE, the South Korean talent management company behind BTS, said Wednesday that it has already paid for its purchase a 14.8% stake in rival SM Entertainment and expects to complete the deal by March 6, ahead of the previously announced schedule. The company announced earlier this month that it will buy most of the 18.5% stake in SM Entertainment owned by founder Lee Soo Man, making HYBE SM Entertainment’s largest shareholder. The deal is priced at $336 million (KRW423 billion), giving SM Entertainment an implied valuation of $2.27 billion. Lee retains an option to sell the remainder of his stake to HYBE at specific prices within a month. HYBE has also offered to buy a further 25% of the company from other shareholders.

Rebecca Rubin Film and Media Reporter Paul Rudd’s Ant-Man is taking on his scariest adversary yet: a 500-pound black bear on cocaine. Universal’s gruesome action-comedy “Cocaine Bear” won’t come close to “Ant-Man and the Wasp: Quantumania” in terms of weekend ticket sales, but the drugged-up animal adventure is expected to start strong at the domestic box office. “Cocaine Bear” hopes to take in $15 million to $17 million from 3,500 North American theaters, with a chance that positive buzz could propel initial returns to $20 million. The wild R-rated movie was budgeted at roughly $35 million, which was mostly dedicated to the CGI used to bring to life the coked-out grizzly alongside the human cast of Keri Russell, O’Shea Jackson Jr., Alden Ehrenreich, Jesse Tyler Ferguson and Brooklynn Prince. Elizabeth Banks directed “Cocaine Bear,” which is one of today’s rare original theatrical comedies. (But viewers, beware, it’s not exactly a laugh-a-minute romp… unless you’re tickled by blood, blood and more blood.) Inspired by a stranger-than-fiction story about a drug runner’s plane crash, the film imagines the events that would have transpired if the American black bear that ingested a duffle bag full of blow had lived to tell the tale.

Naman Ramachandran Disney’s “Ant-Man And The Wasp: Quantumania” debuted in pole position at the U.K. and Ireland box office with £8.8 million ($10.6 million), according to numbers released by Comscore. In its third weekend, Universal’s “Puss In Boots: The Last Wish” collected £3.1 million in second place for a total of £17.1 million. In third place, Warner Bros.’ “Magic Mike’s Last Dance” earned £888,435 in its second weekend for a total of £3.8 million. Disney blockbuster“Avatar: The Way Of Water” continued to chart with £531,213 in its 10th weekend in fourth place for a mighty total of £75.5 million.

Patrick Frater Asia Bureau Chief Growth of premium video services in Southeast Asia accelerated in the second half of 2022, to reach 48.4 million paid subscriptions, according to a new report. But the same analysis sees growth slowing and costs accelerating. The latest report from Media Partners Asia, “SEA Online Video Consumer Insights & Analytics” shows 48.4 million paid online video subscriptions at the end of 2022 in Indonesia, Malaysia, the Philippines, Singapore and Thailand. The full year saw 11.8 million net new customers, with 7.3 million of that total coming in the second half, including 4.6 million in the fourth quarter. Indonesia accounted for half of the increase.

Patrick Frater Asia Bureau Chief “Ant-Man and the Wasp: Quantumania” topped the box office chart in mainland China on its opening weekend, with a $19.4 million start. But the much-discussed arrival of the Marvel movie was weak compared its franchise predecessor. And its debut was not enough to reignite the China box office market. The film arrived in a fashion that was adequately signalled for marketing purposes. And it opened on a date that was coordinated with the North American and other international debuts. In the context of the Chinese market, the film also had the advantage of landing at a time when the big, Chinese-made, Lunar New Year titles were losing their power.

The Ant-Man numbers are in!

Ant-Man and the Wasp: Quantumania,” Disney/20th Century’s “Avatar: The Way of Water” has reached one last box office milestone in its tenth weekend in theaters by passing the lifetime gross of “Titanic” with a global total of $2.24 billion. This means that the Best Picture Oscar-nominated sequel sits only behind the first “Avatar” and “Avengers: Endgame” in third on the all-time global box office list before inflation adjustment.