Watching the just-released Blu-ray was almost as profound an experience because the sound and picture are so vivid that — well, I won’t say it’s like seeing “The Lion King” again for the first time, but it is certainly an enhanced experience. And this is the thing I hate about Blu-ray; there are 2500 DVDs sitting in my collection and Blu-rays like “The Lion King” make me unhappy with the whole lot of them. I finish the adventures of Simba in awe of what a difference Blu-ray makes and then think of my “old” collection with the sickening feeling that I just wasted a couple years’ pay on an Edsel.

And sure, while the mind-blowing animation presented in mind-blowing high-def is certainly part of the draw, none of that means a thing without a compelling and timeless story that works on almost too many levels to count. Themes of courage, duty, manhood, and bravery are all explored through complicated (in a good way) relationships that often force our young protagonist to make emotionally impossible choices. This is heavy stuff for an animated film, but the presentation is so beautifully handled, nothing feels close to heavy.

I suppose kids sense and learn from these themes on a gut level, but the screenplay is so mature and well-structured that adults can’t help but appreciate the brilliance that went into almost every scene. And as someone who has never been a big fan of animated films that stop in order to break into song, “The Lion King” is a notable exception. Hans Zimmer’s Oscar-winning score and the songs by Elton John and Tim Rice are not only good, they’re memorably good. In fact, you can’t imagine the film without them, which isn’t the case for most post-1950 Disney offerings.

The two-disc package is loaded with extras, including extended scenes, deleted songs and scenes, a sing-along feature for the kids and two behind-the-scenes looks at the making of this unqualified masterpiece.

I’m only willing to invest the money replacing a very few of my DVDs with Blu-ray, and this would certainly be one of them.

But, in the world of gambling, you always want to look for value. What are the films and performances with longer odds that would be worth a wager on Sunday? My purpose here is to establish a betting line for each of the six major categories, and then find the value bet in each category.

Question: Who will win Best Picture? Answer: Still, SLUMDOG MILLIONAIRE

BEST PICTURE
Slumdog Millionaire – 1/7
The Curious Case of Benjamin Button – 6/1
Milk – 20/1
Frost/Nixon – 30/1
The Reader – 50/1

VALUE: I believe that in order to win an Academy Award, passion is required. Slumdog Millionaire has a passionate zeal among its supporters that will make it virtually unbeatable. Although I have made The Curious Case of Benjamin Button the second choice here, I give it very little chance of winning. It has major studio backing (Paramount), and it is certainly well-respected, but it is more admired than loved. So, for me the betting value is in Milk. Aside from Slumdog, it is the movie with the largest bloc of zealous fans. Gay and gay-friendly Academy members love the movie, and in the shadow of the passage of Proposition 8 in California, Milk is worth a $2 bet at the window.

Sean Penn's portrayal of Harvey Milk is now a decided underdog to Mickey Rourke

BEST ACTOR
Mickey Rourke, The Wrestler – 1/2
Sean Penn, Milk – 3/2
Frank Langella, Frost/Nixon – 10/1
Brad Pitt, The Curious Case of Benjamin Button – 25/1
Richard Jenkins, The Visitor – 35/1

VALUE: After colorful, rambling, verging on obscene acceptance speeches at both the Golden Globes and the BAFTA Awards, Mickey Rourke is the true favorite for Best Actor. Rourke has also campaigned hard, paying the paying the price for that Golden Globe win by schmoozing each and every one of those 95 Hollywood Foreign Press members. Penn just doesn’t play that awards campaign game at all, but actors love him. The only real betting value here is Penn, who still has a chance of winning his second Oscar.

It has been 25 years since Mery Streep won an Oscar

BEST ACTRESS
Kate Winslet, The Reader – 1/2
Meryl Streep, Doubt – 5/2
Anne Hathaway, Rachel Getting Married – 4/1
Angelina Jolie, Changeling – 25/1
Melissa Leo, Frozen River – 35/1

VALUE: It is Kate Winslet’s year. Just ask anybody. She has two outstanding awards-caliber performances in The Reader and Revolutionary Road. If rules would have allowed, she might have been nominated twice in the Best Actress category. She’s 0-fer-5 lifetime at the Academy Awards and deserves to win, but she can be beaten. Jolie and Leo have no shot. Hathaway is the 3rd choice in the field, and a win is not inconceivable, but Streep is the value bet. The undisputed greatest living actress has not won an Oscar in 25 years, despite the fact that this is her eleventh nomination since winning for Sophie’s Choice in 1983.

Ledger is a lock

BEST SUPPORTING ACTOR
Heather Ledger, The Dark Knight – 1/100
Josh Brolin, Milk – 20/1
Robert Downey, Jr., Tropic Thunder – 25/1
Phillip Seymour Hoffman, Doubt – 30/1
Michael Shannon, Revolutionary Road – 50/1

VALUE: None. There is no value in this category. Heath Ledger will win Best Supporting Actor posthumously. If you are unfamiliar with how odds work, 1/100 means that you would have to bet $100 to win just $1, and even then, it would be tough to get anybody to take your wager.

Marisa Tomei's "stripper with a heart of gold" in THE WRESTLER may earn her a second Oscar

BEST SUPPORTING ACTRESS
Penelope Cruz, Vicky Cristina Barcelona – 1/2
Viola Davis, Doubt – 3/1
Marisa Tomei, The Wrestler – 5/1
Amy Adams, Doubt – 12/1
Taraji P. Henson, The Curious Case of Benjamin Button – 15/1

VALUE: This is, by far, the most competitive of the major awards. The longest shot in the field, Taraji P. Henson from Ben Button, is only a 15-1 longshot. Woody Allen has a knack for helping actresses win in this category (ask Dianne Wiest , who scored for both Hannah and Her Sisters and Bullets Over Broadway). That points to a win for Penelope Cruz, who was raw and sexy as Maria Elena in Vicky Cristina Barcelona. Davis can certainly win for her fleeting-but-powerful turn in Doubt, but my value bet is Marisa Tomei. Her first win, for My Cousin Vinny, was viewed by many as a fluke. In fact, there is an urban legend that she really didn’t win. The story goes that Jack Palance, who presented that year, read the wrong name (the legend claims that Vanessa Redgrave was the actual winner for Howard’s End). In reality, there is no doubt that Tomei is an Oscar winning actress, who gives her career-best performance in The Wrestler.

The uncompromising David Fincher

BEST DIRECTOR
Danny Boyle, Slumdog Millionaire – 1/7
David Fincher, The Curious Case of Benjamin Button – 6/1
Gus Van Sant, Milk – 20/1
Ron Howard, Frost/Nixon – 25/1
Stephen Daldry, The Reader – 35/1

VALUE: Nobody is going to beat Danny Boyle, but if I was looking for a strong value bet, I would wager on Fincher. He is a visionary with some amazing movies on his resume, including Se7en, Fight Club and Zodiac. He has worked with countless actors and industry types, and his uncompromising nature makes him tough to like, but easy to respect. If there were an upset in this category, Fincher is the only guy who could pull it off.

Steve Mason is on Facebook and now also on Twitter.

Only one of this year’s Best Picture nominees has inspired any real passion from the broad public. The almost-certain Best Picture winner is Slumdog Millionaire (Fox Searchlight), and its devotees, including critics and members of the Academy (not to mention yours truly), have made it a word-of-mouth smash hit. The Danny Boyle-directed feel-good Bollywood fusion movie made for a meager $14M added another $2.05M or so on Friday and is charting a 3-day course for about $7.4M. That will give the Slumdog a $77.4M take, and it could reach $90M-$95M before it’s through in American theatres.

David Fincher's The Curious Case of Benjamin is the only 2009 Best Picture nominee to top $100M

The other four Best Picture noms are The Curious Case of Benjamin Button (Paramount), Milk (Focus), The Reader (Weinstein) and Frost/Nixon (Universal). I approached  Benjamin Button as a little kid might approach broccoli. (You’re not allowed to leave the table until you eat it, and it’s supposed to be good for you.) It’s very long, a bit pretentious, and not nearly as good as other David Fincher-directed films like Se7en and Zodiac. After opening strong, the movie is now fading despite 13 Oscar nominations, selling about $640,000 in tickets Friday for a likely $2.24M 3-day. The cume will be a respectable $120M by Monday, but how many people have you actually heard saying, “I love Benjamin Button!”

The Reader, Milk and Frost/Nixon are now on as many screens as they will ever be, and they are certainly not setting the world on fire. Here’s how the five movies nominated for Hollywood’s biggest prize are performing this weekend.

BOX OFFICE PERFORMANCE OF BEST PICTURE NOMINEES FEBRUARY 6-8
Slumdog Millionaire – $2.05M Friday – $7.4M 3-day – $77.4M cume
Benjamin Button – $640K Friday – $2.4M 3-day – $120M cume
The Reader – $605K Friday – $2.3M 3-day – $16M cume
Milk – $285K Friday – $1.1M 3-day – $25.2M cume
Frost/Nixon – $189K Friday – $753K 3-day – $15.6M cume

Aside from Slumdog Millionaire, there’s not much box office upside here. Ben Button is unlikely to reach $130M, while Milk will probably fall short of $30M. The Reader could add a possible $8M before its done, and Frost/Nixon won’t even get to $20M domestic.

Frank Langella and Michael Sheen in Frost/Nixon, unlikely to top $20M domestic

PROJECTED CUMES OF 2009 BEST PICTURE NOMINEES
Benjamin Button – $127M cume (projected)
Slumdog Millionaire – $95M cume (projected)
Milk – $29M cume (projected)
The Reader – $23M cume (projected)
Frost/Nixon – $19M cume (projected)
Combined projected cume: $293M

If those numbers hold, the 2009 awards season will have given us three of the six weakest performing Best Picture nominees of the last decade.

TOP 10 LOWEST GROSSING BEST PICTURE NOMINEES OF THE LAST DECADE
1. 2006 – Letters From Iwo Jima – $13.75M cume
2. 2009 – Frost/Nixon – $20M cume (projected)
3. 2009 – The Reader – $25M cume (projected)
4. 2005 – Capote – $28.75M
5. 1999 – The Insider – $29M
6. 2009 – Milk – $30M cume (projected)
7. 2005 – Good Night & Good Luck – $31.5M cume
8. 2002 – The Pianist – $32.5M cume
9. 2006 – Babel – $34.3M cume
10. 2008 – There Will Be Blood – $40.2M cume

Now just two weeks away, the 2009 Oscar ceremony could be a Waterloo of sorts for the Motion Picture Academy. First-time Oscar producers Bill Condon and Lawrence Mark have promised something daring. A re-imagining of the Academy Awards telecast, coming off last year’s all-time lowest ratings.

Hugh Jackman, the talented Australian actor, will serve as host. He previously won an Emmy for his hosting of the Tony Awards a few years back (Here’s his opening musical number from the broadcast.) Yes he can sing and dance, but can he overcome the lack of appeal of the movies that the Academy has chosen to honor?

As a hardcore movie fan, I will be watching, but the average American doesn’t care about enough of these movies to draw a substantial audience. This group of Best Picture nominees seems destined to be the second-least popular group of nominees in the past fifteen years with an ultimate combined cume of just $293M.

Thandie Newton and Matt Dillon in Best Picture winner Crash, which grossed $54.5M domestic

WEAKEST TOTAL GROSS FOR BEST PICTURE NOMINEES
- last 15 years -
1. 2005 – $245M
Crash, Brokeback, Capote, Good Night & Good Luck, Munich
2. 2009 – $293M (projected)
Slumdog, Ben Button, Frost/Nixon, Milk, The Reader
3. 2006 – $296M
Departed, Babel, Letters from Iwo Jima, Little Miss Sunshine, The Queen
4. 1996 – $306M
English Patient, Fargo, Jerry Maguire, Secrets & Lies, Shine
5. 2007 – $357M
No Country, Atonement, Juno, Michael Clayton, There Will Be Blood
6. 1993 – $368M
Schindler’s List, Fugitive, Name of the Father, The Piano, Remains of the Day
7. 1995 – $378M
Braveheart, Apollo 13, Babe, Il Postino, Sense & Sensibility
8. 2004 – $401M
Million Dollar Baby, Aviator, Finding Neverland, Ray, Sideways
9. 1998 – $440M
Shakespeare in Love, Saving Private Ryan, Life is Beautiful, Elizabeth, Thin Red Line
10. 1994 – $543M
Forrest Gump, Four Weddings & a Funeral, Pulp Fiction, Quiz Show, Shawshanke Redemption

I would love to be wrong. I’d love to believe that keeping the identities of presenters a secret, and a song-and-dance man from Down Under, and the sight of Brad and Angelina on the red carpet, and a gutsy, little independent movie from Mumbai, and a guarantee from producers that the show won’t exceed three hours, and the dramatic posthumous recognition for Heath Ledger – that it will all work to draw a huge television audience. But I am feeling more certain that ABC’s Oscars telecast this year may go down as the lowest rated ever.

Steve Mason is on Facebook and now also on Twitter.

The result is a well-reviewed (56% Fresh on Rotten Tomatoes) action film that will help to satisfy blockbuster-hungry audiences waiting for Warner Bros’ Watchmen (due March 6). Taken has scored big on its opening weekend. After grabbing an estimated $9.4M, the movie surged on Saturday to $11.62M (up almost 24% from opening day) and, despite today’s Super Bowl, the film could reach $24.62M according to studio estimates. That will be more than enough to win the Super Bowl 3-day, and positive word-of-mouth could get this one into the $70M-$75M range domestic.

Prolific French filmmaker Luc Besson

Taken re-teams French action maestro Besson with director Morel, who previously worked together on the brilliant District B13 ($411K opening – $1.2M in the US – $6.9M in France). For the prolific Besson, this movie marks the all-time best US opening for one of his films.

ALL-TIME BEST DOMESTIC OPENINGS FOR LUC BESSON FILMS
- as producer, writer and/or director -
1. Taken (producer/writer) – $24.62M opening (projected)
2. The Fifth Element (writer/director) – $17M opening – $63.8M domestic
3. Transporter 2 (producer/writer) – $16.5M opening – $43M domestic
4. Kiss of the Dragon (producer/writer) – $13.3M opening – $36.8M domestic
5. Transporter 3 (producer/writer) – $12M opening – $31.7M domestic
6. The Transporter (producer/writer) – $9.1M opening – $25.2M domestic
7. Point of No Return (writer) – $7.1M opening – $30M domestic
8. The Messenger: The Story of Joan of Arc (producer/writer/director) – $6.3M opening – $14.2M domestic
9. The Professional (producer/writer/director) – $5.3M opening – $19.5M domestic
10. Arthur & the Invisibles (producer/writer/director) – $4.3M opening – $15.1M domestic

Besson has a tremendous international following, and Taken was already a hit before it ever opened in the US. The movie has already been released in many overseas territories, generating $68.8M in 2008. That includes $11.2M in the UK and $9.4M in France. With international numbers like that, it’s not a huge surprise that the picture is working so well in the states.

The irrepressible Paul Blart: Mall Cop (Sony) is headed for a #2 finish for the weekend. The Adam Sandler-produced comedy sold another $4.2M in tickets on its third Friday, and Kevin James has ridden that dopey Segway to another strong 3-day of about $14M. By Monday morning, PB:MC will have banked a stellar $83M.

Poster for the 1998 Japanese film Ringu

In 1998, Hollywood discovered a Japanese film called Ringu, and they have been remaking Asian horror films ever since. Director Gore Verbinski turned the get-under-your-skin creepy Ringu into an American version called, simply, The Ring, and that 2002 movie starring Naomi Watts grossed a spectacular $129M.

The latest Asian horror adaptation is The Uninvited (Dreamworks/Paramount), based on the 2003 South Korean thriller Janghwa, Hongryeon (released in the US as A Tale of Two Sisters). The movie was a sensation in Korea where it remains the all-time highest-grossing horror film, and now Elizabeth Banks (W.) and David Strathairn (Good Night and Good Luck) headline the American version. After grabbing a decent $4.3M to start the weekend, The Uninvited got a 9% Saturday bump, and it will likely finish the weekend in third-place with $10.51M.

That is slightly disappointing given the performance of some other recent Asian horror remakes. (Note these are all based on Japanese films with The Uninvited being the first South Korean adaptation.)

2002 – The Ring – $15M opening – $129.1M cume
2004 – The Grudge – $39.1M opening – $110.3M cume
2005 – The Ring Two – $35M opening – $76.2M cume
2005 – Dark Water – $9.9M opening – $25.4M cume
2006 – The Grudge 2 – $20.8M opening – $39.1M cume
2006 – Pulse – $8.2M opening – $20.2M cume
2008 – One Missed Call – $12.5M opening – $26.9M cume
2008 – The Eye – $12.4M opening – $31.4M cume
2009 – The Uninvited – $10.51M opening (projected)

In final studio estimates, Hotel for Dogs (Dreamworks/Paramount) has managed a surprise fourth-place finish with $8.7M for a new cume of $48.2M. Meanwhile, the Super Bowl has pushed Clint Eastwood’s Gran Torino (Warner Bros) to #5 with $8.6M. Walt Kowalski has now growled his way to an amazing $110.5M cume.

Slumdog Millionaire (Fox Searchlight) has received a nice boost from and its 10 Oscar nominations, adding another $7.58M. This micro-budgeted movie ($14M) which almost went straight to video when Warner bros didn’t quite know what to do wth it has grossed a staggering $67M. Also this weekend, director Danny Boyle has won the ultimate Oscar bellweather, the DGA award, and that may seal the deal for Best Picture and Best Director at the upcoming Academy Awards.

The other new wide release is the horribly-reviewed New In Town (Lionsgate), starring Academy Award winner Renee Zellweger. The romantic comedy that makes sport of small town America opened soft, but it could have been worse. The movie coaxed about $2.4M on Friday (#7 for the day), and Lionsgate says the movie will finish the weekend with $6.75M, enough for eighth place. That number marks only the eighth-best opening of Zellweger’s career.

ALL-TIME BEST RENEE ZELLWEGER OPENINGS
- non-animated –
1. Me, Myself & Irene – $24.2M opening
2, Cinderella Man – $18.3M opening
3. Jerry Maguire – $17M opening
4. Cold Mountain – $14.5M opening
5. Leatherheads – $12.6M opening
6. Bridget Jones’s Diary – $10.7M opening
7. Bridget Jones: The Edge of Reason – $8.6M opening
8. The Bachelor – $7.4M opening
9. Nurse Betty – $7.1M opening
10. New In Town -$6.75M opening (projected)

There is not much of an Oscar bounce for the current crop of Best Picture nominees. Stephen Daldry’s The Reader (Weinstein) and Milk (Focus) starring Sean Penn are the last two of the big five to go wide, and neither film has scored big.

David Kross and Kate Winslet in The Reader

The Reader, which has Academy Award nominations for Best Picture, Best Actress: Kate Winslet, Best Director: Daldry, Best Adapted Screenplay: David Hare and Best Cinematography, expanded to 1,002 locations on Friday and could only muster $700,000. That should project to about $2.37M or so for the 3-day and a new cume of $12.64M.

Meanwhile, the Gus Van Sant-directed Milk, which some pundits believe may be peaking with Academy voters at just the right time, will not be a box office juggernaut. Despite 8 Oscar nominations, Milk managed only a $471 Per Theatre Average on Friday on 882 screens. The first wide weekend for the Harvey Milk biopic will likely yield only $1.41M for a new domestic cume of $23.41M.

Golden Globe winner Sean Penn as slain gay rights leader Harvey Milk

In all, the five Best Picture nominees, now all in wide release, have combined for less than $17M for the weekend. By Monday, the five movies contending for Hollywood’s biggest prize have a combined total domestic gross of just $234M. I am projecting that Benjamin Button, Slumdog Millionaire, Milk, Frost/Nixon and The Reader will finish with a total of about $285M in US ticket sales, which would be the second-worst total of the last 15 years.

For example last year, the five Best Picture nominees grossed a combined $357M, so the 2009 crop will be down a full 20% from 2008. Snubbing movies like The Dark Knight and Gran Torino, Academy voters have narrowed the field to what amounts to a very expensive arthouse movie (Benjamin Button), a surprise crowd-pleaser (Slumdog Millionaire) and three niche art titles with very specific audiences (Milk, Frost/Nixon and The Reader). When the ratings for the Oscar telecast are dismal, the Academy will have its own voters to blame.

The worst combined gross of the five Best Picture nominees in the last 15 years was in 2005 when Crash, Brokeback Mountain, Capote, Good Night & Good Luck and Munich generated $245M at the box office. That resulted in the all-time third-worst television rating for the Academy Awards broadcast.

EXCLUSIVE STEVE MASON EARLY FRIDAY ESTIMATES
1. NEW – Taken (Fox) – $9.4M, $2,953 PTA, $9.4M cume
2. NEW – The Uninvited (Dreamworks/Paramount) – $4.3M, $1,834 PTA, $4.3M cume
3. Paul Blart: Mall Cop (Sony) – $4.2M, $1,310 PTA, $73.57M cume
4. Gran Torino (Warner Bros) – $2.6M, $862 PTA, $104.54M cume
5. Underworld: Rise of the Lycans (Sony) – $2.55M, $867 PTA, $28.13M cume
6. NEW – New in Town (Lionsgate) – $2.4M, $1,236 PTA, $2.4M cume
7. Slumdog Millionaire (Fox Searchlight) – $2.3M, $1,630 PTA, $61.86M cume
8. Hotel For Dogs (Dreamworks/Paramount) – $2M, $633 PTA, $41.52M cume
9. My Bloody Valentine 3-D (Lionsgate) – $1.5M, $1,067 PTA, $41.84M cume
10. Bride Wars (Fox) – $1.25M, $630 PTA, $51.61M cume
11. The Curious Case of Benjamin Button (Paramount) – $1.1M, $517 PTA, $114.02M cume
12. Inkheart (Warner Bros) – $975,000, $367 PTA, $10.06M cume
13. Revolutionary Road (Dreamworks/Paramount) – $850,000, $789 PTA, $14.22M
14. Defiance (Paramount Vantage) – $775,000, $466 PTA, $21.07M cume
15. The Wrestler (Fox Searchlight) – $730,000, $1,011 PTA, $11.46M cume
16. The Reader (Weinstein) – $700,000, $699 PTA, $10.97M cume
17. Notorious (Fox Searchlight) – $590,000, $546 PTA, $33.9M cume
18. Frost/Nixon (Universal) – $425,000, $385 PTA, $13.33M cume
19. Milk (Focus Features) – $415,000, $471 PTA, $22.39M cume

EXCLUSIVE STEVE MASON EARLY 3-DAY ESTIMATES
1. NEW – Taken (Fox) – $24.62M, $7,736 PTA, $24.62M cume
2. Paul Blart: Mall Cop (Sony) – $14M, $4,367 PTA, $83.37M cume
3. NEW – The Uninvited (Dreamworks/Paramount) – $10.51M, $4,485 PTA, $10.51M cume
4. Hotel For Dogs (Dreamworks/Paramount) – $8.7M, $3,160 PTA, $48.22M cume
5. Gran Torino (Warner Bros) – $8.6M, $2,852 PTA, $110.54M cume
6. Slumdog Millionaire (Fox Searchlight) – $7.68M, $4,703 PTA, $67.24M cume
7. Underworld: Rise of the Lycans (Sony) – $7.2M, $2,447 PTA, $32.78M cume
8. NEW – New in Town (Lionsgate) – $6.75M, $3,478 PTA, $6.75M cume
9. My Bloody Valentine 3-D (Lionsgate) – $4.26M, $3,030 PTA, $44.6M cume
10. Inkheart (Warner Bros) – $3.7M, $1,394 PTA, $12.79M cume
11. The Curious Case of Benjamin Button (Paramount) – $3.61M, $1,698 PTA, $116.54M cume
12. Bride Wars (Fox) – $3.57M, $1,798 PTA, $53.93M cume
13. Revolutionary Road (Dreamworks/Paramount) – $2.65M, $2,469 PTA, $16.03M
14. Defiance (Paramount Vantage) – $2.53M, $1,524 PTA, $22.83M cume
15. The Reader (Weinstein) – $2.37M, $2,369 PTA, $12.64M cume
16. The Wrestler (Fox Searchlight) – $2.35M, $3,255 PTA, $13.08M cume
17. Notorious (Fox Searchlight) – $1.7M, $1,574 PTA, $35M cume
18. Milk (Focus) – $1.41M, $1,603 PTA, $23.41M cume
19. Frost/Nixon (Universal) – $1.39M, $1,265 PTA, $14.31M cume

The Adam Sandler-produced comedy has broadened its audience, showing real family appeal. That led to stronger Saturday and Sunday matinees for a stellar $21.5M by Monday morning. That gives the movie a 10-day cume of just shy of $65M, which is impressive considering that it was budgeted at just $26M. After success as a supporting star in movies like Hitch ($179.5M cume) and I Now Pronounce You Chuck and Larry ($120M cume), it appears that James can open a movie without the help of Will Smith and Adam Sandler. Mall Cop dipped only 32% from last Friday-thru-Sunday (and that was part of a 4-day weekend, which can often lead to a sharper drop).

My Friday night projection column had Underworld: Rise of the Lycans as the #1 movie with $19.75M, and the picture actually improved on that number, finishing with an estimated $20.7M. The Patrick Tatopolous-directed prequel starring Michael Sheen (currently seen as David Frost in Best Picture nominee Frost/Nixon), but the movie finished with less than the original 2003 Underworld ($21.75M) and Underworld: Evolution’s $26.85M in 2006.

The missing ingredient would seem to be the very sexy Kate Beckinsale, who starred in the first two movies in skintight leather. Rise of the Lycans cost about $35M to make, so this picture will make money for Sony. The picture skewed very male (only 41% of the audience was female), but the surprise is that it also drew an older audience. In fact, only 45% of ticket-buyers were under 25.

Oscar voters were not friendly to Clint Eastwood this week. After scoring surprise nominations (Letters From Iwo Jima) and wins (Million Dollar Baby) in recent years, the screen icon was completely shut out on Thursday. No Best Actor nod for Gran Torino (Warner Bros). No Best Director nomination for either of his two well-received 2008 movies Gran Torino or Changeling. No nominations for composing the scores for either of those movies. Clint didn’t even receive a Best Original Song nomination for the haunting and heartfelt theme song from Gran Torino that he co-wrote with son Kyle and jazz vocalist Jamie Cullum.

Instead of an Oscar, Eastwood will settle for a blockbuster hit. Gran Torino, in which he plays a bigoted Korean War veteran who befriends a Hmong boy in a rough Detroit neighborhood, scored another $16M, down only 27% from the MLK 3-day. The micro-budgeted movie by a first-time screenwriter has now grossed a staggering $97.57M, and, sometime on Wednesday, it will surpass In the Line of Fire’s $102.3M, becoming Eastwood’s al-time #1 grossing movie.

The fourth-place finisher for the frame is the live action dog movie Hotel For Dogs (Dreamworks/Paramount), which fetched about $12.36M for a new 19-day cume of almost $37M.

Meanwhile, 10 Academy Award nominations have propelled Slumdog Millionaire to a wildly successful expansion. Widening to 1,411 playdates, Fox Searchlight has perfectly calibrated the platform release and coaxed a terrific $10.55M. It’s hard to believe that after being developed by the now-defunct Warner Independent Pictures, this $14M indie almost wound up going straight-to-video. Now Danny Boyle’s life-affirming masterpiece will have grossed almost $56M by Monday, and Slumdog will be selling a lot more tickets between now and Oscar day.

The other major studio release is Inkheart, which is the product of New Line (absorbed last year by Warner Bros). Based on a novel by Cornelia Funke and starring Brendan Fraser, Paul Bettany (The Da Vinci Code) and Academy Award winner Helen Mirren, this Narnia-wannabe never really had much of a chance. With tepid reviews (36% Fresh on Rotten Tomatoes) and very low awareness according to pre-release industry tracking, Inkheart only mustered about $7.72M for the weekend, finishing a disappointing #7.

The most-nominated film of the year got a boost as well as The Curious Case of Benjamin Button (Paramount) managed another $1.6M to start the 3-day, which translated to another top ten finish with a $6M weekend take (ninth for the 3-day). With nominations for Best Picture, Best Actor: Brad Pitt, Best Supporting Actress: Taraji P. Henson, Best Director: David Fincher, Best Adapted Screenplay: Eric Roth and Best Original Score: Alexandre Desplat among others, Ben Button has a new domestic gross of $111M.

Three other Oscar nominated films got their post-nomination expansions. Revolutionary Road (Dreamworks/Paramount) was crushed by Thursday’s Oscar announcement, but still managed to do some decent business. Dreamworks was clearly banking on a nomination for Best Actress for Kate Winslet and an outside shot at a Best Picture nom, but the Sam Mendes-directed movie settled for nods for Best Supporting Actor: Michael Shannon, Best Art Direction and Best Costume Design: Albert Wolsky. Rolling out on 1,058 screens, the dark, domestic drama sold a respectable $5.26M in tickets over the 3-day for a $4,979 Per Theatre Average.

Mickey Rourke’s career-resurrecting performance in The Wrestler (Fox Searchlight) grabbed an approximate $6,500 PTA for the weekend. With a more limited 566 playdates, the Darren Aronofsky-directed gem corralled about $3.7M for a new cume of $9.5M. The picture could get another boost if Rourke manages to win the Screen Actors Guild Award for Best Actor.

Finally, Best Picture nominee Frost/Nixon (Universal) has failed to ignite much interest despite 5 Academy Award nominations. Co-starring the aforementioned Michael Sheen, the Ron Howard-directed film has expanded to 1,100 locations, but it managed only a disappointing $3.02M for the weekend for a new cume of just $12M.

FINAL STUDIO ESTIMATES
1. Paul Blart: Mall Cop (Sony) – $21.5M, $$6,838 PTA, $64.8M cume
2. NEW – Underworld: Rise of the Lycans (Sony) – $20.7M, $7,036 PTA, $20.7M cume
3. Gran Torino (Warner Bros) – $16M, $5,255, $97.57M cume
4. Hotel For Dogs (Dreamworks/Paramount) – $12.36M, $3,779 PTA, $36.95M cume
5. Slumdog Millionaire (Fox Searchlight) – $10.55M, $7,477 PTA, $55.91M cume
6. My Bloody Valentine 3-D (Lionsgate) – $10.05M, $3,966 PTA, $37.72M cume
7. NEW – Inkheart (Warner Bros) – $7.72M, $2,910 PTA, $7.72M cume
8. Bride Wars (Fox) – $7M, $2,671 PTA, $48.7M cume
9. The Curious Case of Benjamin Button (Paramount) – $6M, $2,651 PTA, $111M cume
10. Notorious (Fox Searchlight) – $5.7M, $3,473 PTA, $31.79M cume
11. Defiance (Paramount Vantage) – $5.43M, $3,030 PTA, $18.32M cume
12. Revolutionary Road (Dreamworks/Paramount) – $5.26M, $4,979 PTA, $11.86M
*The Wrestler (Fox Searchlight) – $3.9M, $6,890 PTA, $9.71M cume
*Frost/Nixon (Universal) – $3.24M, $2,948 PTA, $12.22M cume

Steve Mason is on Facebook and now also on Twitter.

Investor Warren Buffet coined the phrase “skin in the game” to describe a situation where executives use their own money to buy shares in their company. The so-called Oracle of Omaha likes companies where insiders have their own money invested because they work harder, care more and generally are more emotionally invested.

The problem with the Oscars is that voters are nominating films that relatively few people have seen. The five movies nominated for Best Picture this week – The Curious Case of Benjamin Button, Slumdog Millionaire, Milk, The Reader and Frost/Nixon – have combined to gross just $186.7M. The Dark Knight passed that box office total early in its fifth day of release.

TO-DATE BOX OFFICE FOR 2009 BEST PICTURE NOMINEES
The Curious Case of Benjamin Button – $104.3M
Slumdog Millionaire – $44.7M
Milk – $20.6M
Frost/Nixon – $8.9M
The Reader – $8M

How many average moviegoers and potential Oscar viewers have “skin in the game?” Based on the current average US ticket price ($7.15), only about 26 million Americans have seen Hollywood’s big five so far.

Yes, I think The Dark Knight should be a Best Picture nominee. It is absolutely one of my five favorite movies of 2008, and I believe it to be a masterpiece. Artistic excellence and blockbuster status are not mutually exclusive. I believe that one of the reasons Christopher Nolan’s comic book sequel soared past $500M US is that it struck a very real cultural chord with audiences.

There was talk that this comic book adaptation was too dark, but it is actually a relentlessly optimistic movie. What Heath Ledger’s Joker character demonstrates is that, even when the world is in shambles and people are faced with impossibly difficult choices, they do the right thing. The message of TDK is that regular people, at their core, are good. We need more movies like that right now.

I also believe that Clint Eastwood’s Gran Torino, although not a perfect movie, should not have been snubbed entirely. No Best Actor for Eastwood’s turn as the irascible Walt Kowalski, and not even a Best Original Song nomination for co-writing the heartfelt theme song with his son Kyle and jazz vocalist Jamie Cullum. Gran Torino, by the way, with a to-date cume of $79.8M, has grossed more than all of the Best Picture nominees except Benjamin Button.

Other snubs that will depress the viewing audience include Best Original Song contenders, Bruce Springsteen (The Wrestler), Miley Cyrus (Bolt), Beyonce (Cadillac Records) and Alicia Keyes (Quantum of Solace). I have yet to get a good answer about why the Academy narrowed the category to just three nominees. If Bruce Springsteen is big enough for the halftime show at Super Bowl 43, he must be big enough for Hollywood’s biggest night, and if there were the usual five nominations here, Springsteen would have certainly been among them.

A disastrously low 31.76M viewers watched last year’s Oscar show for an all-time worst 18.6 Nielsen rating. Last year’s Best Picture nominees combined to gross $357.9M. This year, the five nominees will be lucky to combine for more than $300M domestic. How much lower can the TV ratings get?

There is a growing divide between what Academy voters view as film excellence and what audiences actually want to see. That’s not to say that all Best Picture nominees should be blockbusters, but they should include some true, crowd-pleasing hits. If you look at this list, it’s pretty clear where the Oscars came off the rails.

1993
Best Picture – Schindler’s List – $96M cume
Combined domestic box office of the 5 Best Picture nominees – $368.4M
Total Oscar telecast viewers – 46.2M

1994
Best Picture – Forrest Gump – $329.7M cume
Combined domestic box office of the 5 Best Picture nominees – $543.5M
Total Oscar telecast viewers – 46.26M

1995
Best Picture – Braveheart – $75.6M cume
Combined domestic box office of the 5 Best Picture nominees – $378.1M
Total Oscar telecast viewers – 44.5M

1996
Best Picture – The English Patient – $78.6M cume
Combined domestic box office of the 5 Best Picture nominees – $306.5M
Total Oscar telecast viewers – 40.8M

1997
Best Picture – Titanic – $600.8M cume
Combined domestic box office of the 5 Best Picture nominees – $998.2M
Total Oscar telecast viewers – 57.2M

1998
Best Picture – Shakespeare in Love - $100.3M cume
Combined domestic box office of the 5 Best Picture nominees – $440.9M
Total Oscar telecast viewers – 45.6M

1999
Best Picture – American Beauty – $130M cume
Combined domestic box office of the 5 Best Picture nominees – $647M
Total Oscar telecast viewers – 46.5M

2000
Best Picture – Gladiator – $187.7M cume
Combined domestic box office of the 5 Best Picture nominees – $637M
Total Oscar telecast viewers – 42.9M

2001
Best Picture – A Beautiful Mind – $170.7M cume
Combined domestic box office of the 5 Best Picture nominees – $620.1M
Total Oscar telecast viewers – 40.5M

2002
Best Picture – Chicago – $170.6M cume
Combined domestic box office of the 5 Best Picture nominees – $664.5M
Total Oscar telecast viewers – 33M

2003
Best Picture – Lord of the Rings: Return of the King – $377M cume
Combined domestic box office of the 5 Best Picture nominees – $725.9M
Total Oscar telecast viewers – 43.5M

2004
Best Picture – Million Dollar Baby – $100.5M cume
Combined domestic box office of the 5 Best Picture nominees – $401.6M
Total Oscar telecast viewers – 42.1M

2005
Best Picture – Crash – $54.5M cume
Combined domestic box office of the 5 Best Picture nominees – $245.3M
Total Oscar telecast viewers – 38.9M

2006
Best Picture – The Departed – $132.3M cume
Combined domestic box office of the 5 Best Picture nominees – $296.7M
Total Oscar telecast viewers – 39.9M

2007
Best Picture – No Country For Old Men – $74.2M cume
Combined domestic box office of the 5 Best Picture nominees – $357.9M
Total Oscar telecast viewers – 31.7M

In 1997, there were three $100M grossing movies including Titanic ($600.7M cume). Over the next seven awards cycles, there were at least two $100M grossers in each Best Picture field, and in 2000 there were four hits of that magnitude.

Then came 2005, when the five Best Picture nominees combined to gross just $245M.

BOX OFFICE FOR 2005 BEST PICTURE NOMINEES
Crash – $54.5M
Brokeback Mountain – $83M
Capote – $28.75M
Good Night and Good Luck – $31.5M
Munich – $47.4M

The disconnect between the Oscars and rank-and-file movie fans started in 2005. This is where the Academy Awards “came off the rails.” Only 38.9M viewers watched that telecast, and the Academy has continued marching to the beat of that noncommercial drummer ever since. In the final analysis, 17 of the last 20 Best Picture nominees (including the just announced group) have failed to break the $100M threshold. Unless the Academy figures out a way to give more rank-and-file moviegoers “skin in the game,” the ratings slide will continue. My hunch is that the 2009 Oscar telecast will be the lowest rated in history.

Steve Mason is on Facebook and now also on Twitter.