CPXGF - Tenth franchise entry 'Fast X' set to race for box-office prize

2023-05-19 16:07:20 ET

Move over, Marvel: The "family" is back, for a 10th time.

Fast X ( NASDAQ: CMCSA ) -- the latest entry in the lucrative Fast and the Furious street-racing/adventure franchise -- heads to more than 4,000 theaters this weekend, showing that summer movie season is well under way well before Memorial Day these days.

The new film, which returns Vin Diesel in the lead along with a number of returning actors including Michelle Rodriguez, Jordana Brewster and Tyrese Gibson, reached $7.5M in Thursday previews, despite fewer showings than recent rival films' previews.

That's pointing to a $60M-$70M opening -- at least domestically, though the film tends to have wheels overseas, where $200M-plus is a more likely number. Fast X opened to $18M in China, strong for an unusual midweek opening.

In any case it seems likely to dethrone Guardians of the Galaxy Vol. 3 ( NYSE: DIS ), which hit $62M last weekend and is set to shed some business (and particularly some premium screens) in its third weekend to Fast X.

The Fast and the Furious franchise is Universal's richest, and one of the richest franchises in film history: Combined, the films have grossed more than $6B.

In 2021, the last entry, F9 ( CMCSA ), opened to $70M before reaching a domestic total of $173M and a worldwide take of $726.2M.

Cinema tickers: AMC Entertainment ( NYSE: AMC ); Cineworld ( OTCPK:CNNWQ ); Cinemark ( CNK ); ( NYSE: IMAX ); Marcus ( MCS ); Reading International ( RDI ); Cineplex ( CGX:CA ); National CineMedia ( NCMI ).

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