Archive for August 8, 2009
Industry pundits were expecting dismal returns for G.I. Joe. The project had bad advance word of mouth, and online G.I. Joe geeks seemed upset with the direction of the film, calling it C.G.I. Joe and G. I. Joke.
But the film’s initial box office returns show it’s not the bomb expected. It earned $22.3 million on Friday alone. This is the largest Friday opening in August for a non-sequel, and the third largest August opener ever. The film is expected to top $60m for the weekend.
Paramount isn’t popping any champagne corks, because, with it’s $175 million budget, G.I. Joe still has a long way to go to enter the profit column. But they must be breathing a sign of relief. No one can classify G.I. Joe as a bomb.
And with audience reaction generally positive, it should sell some toys. And Paramount wisely took a piece of those profits as part of their deal with G.I. Joe manufacturer Hasbro.