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TheStreet Open House

Transformers Suffers From July 4th Fireworks -- But Not in China

NEW YORK (TheStreet) -- Paramount's (VIA) Transformers: Age of Distinction maintained its number one spot on the box office sales numbers, but even so, sales dropped quite far in the movie second week because of the holiday.

TheStreet's Chris Ciaccia wrote a review of the Michael Bay blockbuster last week.

Transformers' sales dropped 64% from its opening weekend ended June 30. While movies are expected to show a steep decrease after an opening, the dip from $100 million domestic box office sales to $36.4 million is large even for the standards of a so-called blockbuster. the typical decline is somewhere between 40% and 50%. 21st Century Fox's (FOX) How to Train Your Dragon 2 and Sony's (SNE) 22 Jump Street fell 50% and 52% respectively from their first opening weekend to second weekend.

Nonetheless, Phil Contrino at BoxOffice.com wasn't surprised by the large dip in ticket sales as families tend to watch fireworks over the July 4th weekend instead of heading to a movie theater.

Indeed, many studios showed declines over the July 4th weekend as the holiday fell on a Friday providing for less time than usual to take off from work had the 4th landed on a Wednesday or Thursday.

How Viacom's 'Transformers' is Charming China's Hollywood Skeptics

Tammy, the Melissa McCarthy lead movie from Time Warner's (TWX - Get Report) Warner Brothers Studios opened over the holiday weekend with domestic sales of $21.2 million, placing it second in sales behind Transformers, according to Rentrak (RENT). Transformers was at the top of the box office charts again this week at $36.4 million in domestic weekend box office sales. Contrino said Tammy is likely to eventually show a profit movie despite its mediocre opening considering it was produced with a relatively small budget. 

While July 4th is a national holiday in the U.S., it's just another day in China where Contrino reports that Transformers is making $212.8 million in sales in China compared to the $175 million here in the United States.

Transformers should pass Avatar this week as the highest grossing movie in China. Contrino sees these huge sales in China as part of a larger movement in which studios look towards a more global audience. Tammy, a very American-centric comedy, is not expected to do as well overseas.

The newest addition to the Transformers' franchise comes in fifth for 2014 Openers behind Captain America 2, The Amazing Spider-Man 2, Godzilla, and X-Men: Days of Future Past, according to data compiled by BoxOfficeMojo.com.

-- Written by Whalen MacHale in New York.

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