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Solo's crash at box office may cause first Star Wars loss
BOX-OFFICE receipts for Solo: A Star Wars Story sank 65 per cent from the film's debut weekend, setting it on course to be the first-ever Star Wars movie to lose money.
Walt Disney's Han Solo origin story collected US$29.3 million in theatres in the US and Canada over the weekend, according to estimates by ComScore Inc on Sunday.
That was below the US$30 million projected by the research site Box Office Mojo and a steeper decline than other big Memorial Day releases historically.
The film, which cost an estimated US$250 million to make, could lose more than US$50 million, Barton Crockett, an analyst with B Riley FBR said in a research note.
"This marks a tough return to movie reality for a Disney that had in recent years enjoyed a can't-miss mystique," he wrote.
Mr Crockett projected worldwide ticket sales for the movie's full run would be in the mid-US$400 million range, while other recent "Star Wars" films have taken in US$1 billion or more.
Movie budgets don't include the cost of marketing the film, and studios split the box office receipts with theatres.
Three new movies - Adrift,Upgrade, and Action Point - placed third, sixth and ninth, respectively.
STX Entertainment's Adrift" collected US$11.5 million against a forecast of US$13 million and budget of US$35 million.
Shailene Woodley and Sam Claflin play a couple who sail from Tahiti to San Diego and hit a catastrophic hurricane.
The survival tale is based on a true story and scored 67 per cent positive reviews, according to aggregator Rotten Tomatoes.
R-rated Upgrade, which scored almost universal positive reviews, collected US$4.46 million, beating a forecast of US$2.8 million by Box Office Pro.
The violent tale via Blumhouse Productions' label BH Tilt, is about a billionaire inventor paralysed in a mugging, who tries an experimental cure to fix his body.
Daredevil Johnny Knoxville returns in the critically panned Action Point, via Paramount Pictures, which earned US$2.32 million - about half the predicted US$5.5 million.
In the US$19 million production, the Jackass star is the owner of an out-of-control amusement park where the rides are designed with minimum safety and maximum pain. BLOOMBERG