News update: June 19, 2011

The weekend box-office estimates are in, and it looks like “Green Lantern” has easily taken the No.1 spot with $52.7 million. That’s about on track with what many people had predicted, but is it a number that Warner Bros. can live with?

Yes and no.

The opening means that “Green Lantern” is not an complete failure. Emphasis on the word complete. If it’s lucky, the movie will go on to make somewhere in the neighborhood of $130 million to $140 million. Pretty underwhelming for a should-be franchise.

Clearly, it’s not Warner Bros. had expected.

The really bad news, however, is that “Green Lantern” debuted with $21.6 million on Friday, and dropped 22 percent on Saturday, and another 15 percent on Sunday. Bad word of mouth has spread, and it could cause a disastrous second-week drop-off.

So will “Green Lantern” even hit that $130 million mark? I would doubt it. Especially with the blockbusters stockpiled in the coming weeks.

I’m reluctant to call it a major financial failure at this stage, but it’s certainly not what Warner Bros. was hoping for.

Here’s the top five according to The Box Office Mojo.

1.“Green Lantern” – $52.7M
2. “Super 8” – $21.3M
3.“Mr. Popper’s Penguins” – $18.2
4.“X-Men: First Class” – $11.5M
5.“The Hangover Part II” – $9.6M

Trailer of the day:

Columbia recently released the trailer for the much-anticipated adaptation of the best-selling book “Moneyball,” starring Brad Pitt. I’m excited for it. What do you guys think?

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