The Weinstein Company’s “Gold” earned $3.4 million its opening weekend, marking Matthew McConaughey’s worst wide release opening of his career.
That doesn’t include “My Boyfriend’s Back,” in which McConaughey had a minor supporting role.
Heading into the weekend, the studio had anticipated an opening in the $3 million to $4 million range although an opening in the $8 million to $10 million range would’ve been better news for the film costarring Edgar Ramirez, Bryce Dallas Howard and Corey Stoll.
The movie, which fueled higher expectations with McConaughey top-lined, had a disappointing debut due to several factors, one being the crowded market place. This weekend marked the openings of “A Dog’s Purpose” and “Resident Evil: The Final Chapter,” and also saw a strong hold from James McAvoy’s “Split,” which opened last weekend to $40 million.
Moreover, many Oscar-nominated films were rereleased in theaters or expanded wide. For example, “La La Land” expanded to its widest point this weekend and crossed the $100 million threshold. TWC’s “Lion” didn’t expand this weekend but still saw a 35 percent bump in box office revenue from last weekend — although it is only playing in 575 theaters.
“The biggest issue is the incredibly crowded marketplace and all eyes shifting to the Oscar nominees and most of them getting the post-nomination bounce,” senior analyst at comScore Paul Dergarabedian told TheWrap. “‘La La Land, ‘Manchester by the Sea’ and ‘Moonlight’ are all capitalizing on that. It’s very difficult right now for any new, non-2016 Oscar contender to get attention. The audience is so fragmented — people have Oscars movies on their radar.”
“Gold” didn’t receive any Oscars recognition, although it was nominated for a Golden Globe in the category of Best Original Song.
Moreover, reviews for the film haven’t been very favorable. On Rotten Tomatoes, the film holds a score of 38 percent, with critics calling the film “a mess” — one that even McConaughey can’t fix.
Its CinemaScore is a B-.
“Reviews for these movies matter more than they do for blockbusters that seem to be impervious to bad reviews,” added Dergarabedian. “There’s a big box office pie and it’s being split into an incredible amount of pieces.”
On a positive note, The Weinstein Company will see a boost for “Lion” next weekend when the studio will expand the film starring Dev Patel and Nicole Kidman to 1,800 theaters. It has earned $19.8 million to date.