It was another good weekend for Summit Entertainment. The distributor behind last year’s meteoric hit Twilight has scored a solid hit with the Alex Proyas-directed Knowing, starring Nicolas Cage. Despite shaky word-of-mouth and negative reviews, the sci-fi thriller got a solid 9% bump on Saturday for a $9.7M second day, and it will likely finish its opening weekend with a possible $24.8M.

As a production company, Summit is responsible for some monster hits, including commercially and/or artistically successful films like Once (Oscar nominee for Best Picture), American Pie ($102..5M domestic), Memento (Oscar nominee for Best Original Screenplay: Chris Nolan), Mr. & Mrs. Smith ($186.3M domestic) and In the Valley of Ellah (Tommy Lee Jones nominated for Best Actor). But as a distributor, they got off to a slow start. (more…)

Early box office returns are pointing to a weekend win for Knowing from Summit, but I will put my money on I Love You, Man (Dreamworks/Paramount) to generate more in US ticket sales over the long haul. The Nicolas Cage sci-fi thriller has grabbed an estimated $8.95M to start the weekend, and it will likely finish at $24M or so. That is, unless word-of-mouth catches up to it first.

Will reviews and word-of-mouth catch up to KNOWING?

Reviews for Knowing, written and directed by Alex Proyas, the inventive filmmaker behind the visually striking 1998 film Dark City and the 2004 Will Smith mega-hit I, Robot, has received overwhelmingly negative reviews (25% Fresh on Rotten Tomatoes), but thanks to Twitter, real-time movie-goer reactions spread like wildfire. Here are some Tweets I just grabbed off the social networking platform.

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For the last few weeks, Summit’s Knowing, starring Nicolas Cage, has appeared to be the likely winner of the upcoming box office weekend. But, my sources tell me that I Love You, Man, the new comedy starring Paul Rudd (Role Models) and Jason Segal (Forgetting Sarah Marshall) has surged in the latest pre-release industry tracking.

In the spirit of March Madness, I’m calling for the upset. I Love You, Man may not actually be a Judd Apatow movie, but it sure does look like one in trailers and commercials. The movie reportedly “rocked the house” at the South By South West Festival last week, and the buzz is very positive. I am calling for $21.5M, which would be above industry expectations.

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As expected Disney’s Race To Witch Mountain enjoyed a huge Saturday surge for just over $11M in tickets sold, and the reboot of the 70’s franchise will finish with about $25M for the 3-day. Overall, Race posted the year’s seventh-best Saturday performance.

TOP 10 SATURDAY GROSSES IN 2009
1. March 7 – Watchmen – $18.3M
2. February 21 – Tyler Perry’s Madea Goes To Jail – $16.6M
3. February 14 – Friday the Thirteenth – $14.3M
4. January 17 – Paul Blart: Mall Cop – $13.2M
5. January 10 – Gran Torino – $12.1M
6. January 31 – Taken – $11.65M
7. March 14 - Race To Witch Mountain – $11M (estimated)
8. February 7 – He’s Just Not That Into You – $10.9M
9. January 17 – Paul Blart: Mall Cop – $10M
10. January 17 – Gran Torino – $10M
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As Watchmen (Warner Bros) falls, “The Rock” appears to be racing to a weekend win. Disney’s Race To Witch Mountain, starring Dwayne “The Rock” Johnson, is off to a solid start with $6.8M or so on opening day, and, with its expected surge in family matinee audiences on Saturday and Sunday, it will likely triumph with a possible $24.25M.

Meanwhile last weekend’s winner Watchmen staggered to a second Friday of only $5.4M or so, and I am projecting only $15.75M for the 3-day. That marks a 71% drop. Anything over $20M would have been acceptable, but the bottom has fallen out of this movie, and it will now struggle to reach $100M domestic. When the foreign and DVD are added, it may make a small profit, but it will likely be negligible. The superstitious might suggest that Watchmen writer Alan Moore’s alleged curse may be to blame, but the reality is that word-of-mouth has been more negative than for any movie in recent memory.

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One of the coolest ways to use the social networking platform Twitter is to find out what people are thinking, saying and Twittering about in real time. Here’s a small sampling of Tweets from the opening weekend of Watchmen (Warner Bros).

The Watchmen = Epic fail!

If you haven’t seen The Watchmen yet, I’d urge you to read the graphic novel first. Well, actually, I’d urge you to JUST read the GN. lol.

Watchmen.undecided,confused as superhero film with

very little superhero action.Convoluted story,but overall watchable. My opinion only

I was bored while watching Watchmen

Just got out of Watchmen…. Ouch, would spend the 9 quid on – can’t even find the humour, brain switched off 1 hour into the 3- BIG YAWN (more…)