Bilbo Baggins went after treasure this weekend, and he found a lot of it — just not quite as much as he did last year. Peter Jackson’s latest Middle-earth adventure The Hobbit: The Desolation of Smaug earned $73.6 million in its opening weekend, marking a 13 percent drop from The Hobbit: An Unexpected Journey‘s $84.6 million bow in December 2012.
Smaug notched the fourth-best December opening weekend ever, after An Unexpected Journey, I Am Legend ($77.2 million), and Avatar ($77 million), and although it undercut its predecessor’s debut, Warner Bros., who co-financed the film with MGM for about $225 million, can’t be too disappointed with the result. The first Hobbit film finished with $303 million domestically and over $1 billion worldwide. Even if Smaug can’t match those figures (if it plays like Journey, it’s headed for $263 million domestically), it will be a hugely profitable venture for the studio.
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