With 400,000 Americans showing up every year at the Indy 500 and 200,000 more buying tickets to see NASCAR’s premiere event The Daytona 500, you would think that the most creative minds in Hollywood would be looking for a way to cash in with more movies about car racing and car culture. NASCAR has an estimated 75 million fans, and it is second only to the National Football League in terms of television ratings, so where are all the good racing movies?

Jordana Brewster is reunited with Vin, Paul and Michelle in FAST & FURIOUS

Universal seems to have answered that question by getting its successful street racing franchise back into the fast lane this weekend with Fast & Furious. The movie, which reunites Vin Diesel, Paul Walker, Jordana Brewster and Michelle Rodriguez for the first time since 2001’s original surprise blockbuster, has exploded to a high octane $30.11M or so on Friday and that could mean a $70M opening weekend. That would make it the all-time #1 opening for a car racing movie.

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Universal’s Fast & Furious will be “burning rubber” this weekend at America’s multiplexes as the original street-racing cast reunites after some sub-par chapters of the franchise.

The original The Fast & The Furious hit theatres in 2001 under the direction of Rob Cohen who had shown a knack for action with Dragon: The Bruce Lee Story ($35M US cume) and Sly Stallone’s Daylight ($33M US cume) and a savvy feel for bigger-than-life characters in his Golden Globe winning biopic The Rat Pack (which, if you’ve never seen you should put in your Netflix cue and prepare to be amazed by Don Cheadle’s turn as Sammy Davis, Jr.). In tow, he had a 34-year-old Vin Diesel in only his second starring role following the surprise low budget hit Pitch Black ($39M cume) and 28-year-old Paul Walker, who had just starred in Cohen’s forgettable The Skulls. Also in the cast was Jordana Brewster (As the World Turns) and a pre-Lost Michelle Rodriguez, whose most notable credit was a gritty little indie called Girlfight.

Vin Diesel returns for FAST & FURIOUS

The result was box office jet fuel. Seemingly out of nowhere, The Fast & The Furious scored a scalding $40M opening weekend and reached $144.5M domestic and over $200M worldwide. But Diesel, whose signature line in the original movie is “I live my life one quarter of a mile at a time,” didn’t like the script for the sequel (or they wouldn’t pay his asking price depending on who you ask). That led to the 2003 sequel 2 Fast 2 Furious directed by Academy Award nominee John Singleton (Boyz n the Hood) starring Walker along with rapper Tyrese Gibson and Eva Mendes. Despite Diesel’s conspicuous absence, 2 Fast still delivered $127M in the US. (more…)

It is an excellent weekend for Dreamworks Animation. Although the credit crunch prevented financing that would allow exhibitors to undertake the digital conversion of more of its theatres, Monsters vs. Aliens is benefiting spectacularly from the 2,075 or so standard Digital 3-D engagements and the added 143 Digital IMAX runs. The audaciously ambitious animated send-up of 50’s B-movies has used the “bleeding edge” of technology to milk an estimated $16.7M in opening day ticket sales. The which could translate to $58M or so for the 3-day weekend.

MONSTERS VS. ALIENS towers over previous 3-D releases from Hollywood

If that number holds, and, if anything, they could drift higher as family audiences flood America’s multiplexes, Monsters vs. Aliens will be the all-time third-best opening in the month of March.

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Jeffrey Katzenberg has been the film industry’s strongest proponent of 3-D over the past few years, and this weekend his advocacy will start paying dividends for Dreamworks Amimation. Monsters Vs. Aliens will debut with 4,104 playdates. That makes it the 13th-widest release in modern film history, and it becomes the biggest non-summer debut of all-time.

Jeffrey Katzenberg - The Pied Piper for Digital 3-D

ALL-TIME WIDEST NON-SUMMER RELEASES
- with summer defined as May 1 – August 30 -
1. 3/27/09 – Monsters Vs. Aliens – 4,104 playdates
2. 11/07/08 – Madagascar 2 – 4,056 playdates
3. 10/01/04 – Shark Tale – 4,016
4. 3/31/06 – Ice Age: The Meltdown – 3,964
5. 3/14/08 – Dr. Suess’ Horton Hears A Who – 3,954

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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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