‘Crazy Rich Asians’ Overcomes Competition, Biases
(Bloomberg) -- ‘‘Crazy Rich Asians,'' the first Hollywood film in almost a quarter-century with a largely Asian cast, opened as the No. 1 weekend film in North American theaters, dispensing with last week's winner “The Meg” and a new Mark Wahlberg picture.
Based on Kevin Kwan's 2013 novel with the same name, the Warner Bros. romantic comedy collected an estimated $25.2 million in U.S and Canadian theaters, researcher ComScore Inc. said in an email Sunday. That beat last weekend's winner, ‘‘The Meg,'' which landed in second place, and ‘‘Mile 22,'' an action-thriller starring Wahlberg that opened in third.
Helped by advertising, good reviews and social-media buzz, “Crazy Rich Asians” took in $34 million over the five days that ended Sunday -- well above the studio's early estimate of about $18 million for that period. Asians and other minorities are underrepresented in front of the camera and behind, and advocacy groups have looked to the film to help break down barriers.
‘‘Crazy Rich Asians'' stars Constance Wu as Rachel Chu, a Chinese-American economics professor accompanying her boyfriend Nick Young, played by Henry Golding, to Singapore for his best friend's wedding. Once there, she discovers the family is filthy rich and she has to deal with his disapproving mother.
The two-hour film had a production budget of $30 million and was expected to take in as much as $25 million from Friday to Sunday for AT&T Inc.'s newly acquired Warner Bros. division. Critics especially like the movie, with 92 percent recommending it, according to aggregator Rotten Tomatoes. In 1993, ‘‘The Joy Luck Club'' was the last English-language Hollywood film that featured an all-Asian cast.
Nina Jacobson, who produced Crazy Rich Asians with Brad Simpson, said the film's performance is proof audiences are eager for more diverse fare.
“When I was a young studio executive, I was told that all audiences would identify with a white male lead but only women would identity with a woman, and only people of color with actors of color (except for Denzel and Will Smith),” she said. “That was false then and it's false now. Audiences are letting decision makers know that they are not to be underestimated and will show up for unique characters and emotionally resonant stories.”
“The Meg,” in its second weekend, collected $21.2 million while ‘‘Mile 22,'' from STX Entertainment, pulled in $13.6 million. The latter film features Wahlberg as a tough-as-nails CIA officer tasked with smuggling a mysterious police officer wanted for espionage from an American embassy in Southeast Asia to a safe airfield for extraction. Analysts at Box Office Pro expected the action film to bring in $18 million. The film cost an estimated $35 million to make, according to IMDb.com.
Critics didn't like “Mile 22,” with just 22 percent recommending the film, according to Rotten Tomatoes.
The weekend's other new release, ‘‘Alpha,'' took in $10.5 million, above the $6 million predicted by Box Office Mojo. The Studio 8 release features a teenage boy who befriends a wolf to survive in the last Ice Age. The film, which opened in 2,719 theaters, was well-received, with 83 percent of critics recommending it.
To contact the reporter on this story: Caleb Mutua in New York at dmutua@bloomberg.net
To contact the editor responsible for this story: Nick Turner at nturner7@bloomberg.net
©2018 Bloomberg L.P.
-
Navigating Energy Crossroads: S Jaishankar's Call For Diversified Supply Chains At G20 Ministerial Meeting
As geopolitical fault lines continue to test maritime trade routes and commodity flows, Jaishankar's message remains pertinent: true economic resilience requires open markets, protected transit lines, and a genuine commitment to multilateral cooperation rather than coercion.
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
-
Joining The Dots | Dark Skies, Steady Diya: Why Hope Holds This Diwali
With war, a weak rupee and foreign outflows weighing on sentiment, policymakers at the NDTV World Summit and market veterans at NDTV Profit Ignite: Diwali Edition offered the same advice: stay invested and filter out the noise.
-
The Curious Case of Equitas Small Finance Bank And A CEO Who Quit For Stock
PN Vasudevan believes persistent investor concerns over a perceived conflict of interest had become a governance overhang on Equitas Small Finance Bank's stock, even as the lender improved profitability and asset quality.
-
Talking Points This Week: AI Cash Burn, A Tiger Comeback And An India That Still Finds Its Own Path
India is not immune to higher oil or tighter global liquidity, yet its earnings base is broader, its domestic policy levers are still available.
-
Foreign Investors Own Half Of HDFC Bank and ICICI Bank. An LTCG Cut Could Matter Most Here
Foreign portfolio investors have US$115 billion parked in HDFC Bank, ICICI Bank. If the government cuts long-term capital gains tax, Jefferies says returning foreign money could land here first.
-
'Never Seen This Level Of Negativity': Sandeep Tandon Says The Next Rally May Be Closer Than You Think
Veteran investor Sandeep Tandon says foreign selling is easing, large-caps are due a comeback and mid-caps are crowded, while he turns positive on gold, power and pharma this Diwali.
-
Indians Stay With Family, Not In Hotels | The Reason Why
India still lacks enough clean, reliable and affordable hotels for budget-conscious travellers.