For ‘Fantastic Beasts’ Series, a Case of Diminishing Returns

Actor Eddie Redmayne attends a special screening of "Fantastic Beasts: The Secrets of Dumbledore" at AMC Lincoln Square on Wednesday, April 6, 2022, in New York. (AP)
Actor Eddie Redmayne attends a special screening of "Fantastic Beasts: The Secrets of Dumbledore" at AMC Lincoln Square on Wednesday, April 6, 2022, in New York. (AP)
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For ‘Fantastic Beasts’ Series, a Case of Diminishing Returns

Actor Eddie Redmayne attends a special screening of "Fantastic Beasts: The Secrets of Dumbledore" at AMC Lincoln Square on Wednesday, April 6, 2022, in New York. (AP)
Actor Eddie Redmayne attends a special screening of "Fantastic Beasts: The Secrets of Dumbledore" at AMC Lincoln Square on Wednesday, April 6, 2022, in New York. (AP)

"Fantastic Beasts: The Secrets of Dumbledore” got off to a less than magical start in its first weekend in US and Canadian theaters. The third installment in the Harry Potter spinoff opened to $43 million in North America, according to studio estimates Sunday.

It was enough to secure the film the top spot on the box office charts, but it’s also a low for the franchise. The first film had a $74.4 million debut in 2016 and the second, "The Crimes of Grindelwald” opened to $62.2 million in 2018. "The Secrets of Dumbledore,” which Warner Bros. released in 4,208 locations in North America, also carries a $200 million production price tag.

It’s more common than not for sequels and threequels to come in lower than their predecessors, but "Dumbledore” also follows several franchise titles that defied that logic, including "Spider-Man: No Way Home,” "Venom 2” and "Sonic the Hedgehog 2.”

Critics were largely not on board with "Dumbledore.” With a 49% rating on Rotten Tomatoes, most came in on the negative side. AP Film Writer Jake Coyle wrote in his review that "the purpose of these movies has never felt like much beyond keeping the Potter train running” and that this iteration is "a bit of a bore.” Audiences, which were 56% female, were a little kinder, giving it four stars on PostTrak and an overall B+ CinemaScore.

The eight Harry Potter films were responsible for over $7.7 billion in box office, while the first two "Fantastic Beasts” films made $1.5 billion total.

This installment stars Eddie Redmayne, Jude Law, Ezra Miller and Mads Mikkelsen, who replaced Johnny Depp as Grindelwald. In November 2020, following Depp’s failed libel case against The Sun tabloid newspaper for an article that labeled him a "wife beater,” the actor said Warner Bros. asked him to step down and that he agreed.

As with previous "Fantastic Beasts” films, however, "Dumbledore” has more hope internationally. Its grosses are $193 million worldwide. Both of the previous films made over 70% of their global totals from international showings.

"Recapturing the original ‘Harry Potter’ magic that began some 20 years ago in cinemas is a tall order,” said Paul Dergarabedian, the senior media analyst for Comscore. "The ‘Fantastic Beasts’ franchise, while seeing diminishing returns with each successive installment, still has enough of a devoted fanbase to conjure up respectable numbers particularly with international audiences which have always provided the lion’s share of the box office for these films.”

In its second weekend, "Sonic the Hedgehog 2” fell 58% and earned an estimated $30 million, according to Paramount. The film has grossed $119.6 million to date.

Sony also released "Father Stu” in 2,705 locations on Wednesday. Starring Mark Wahlberg, who helped finance the film, "Father Stu” is based on a true story and is a rare mainstream Hollywood movie with religious themes. It earned an estimated $8 million in its first five days in theaters.



Netflix War Epic to Open Asia’s Largest Film Festival

In this file photo taken on October 4, 2023, children pose for photos next to large letters displayed for the 28th Busan International Film Festival (BIFF) at the Busan Cinema Center in Busan. (AFP)
In this file photo taken on October 4, 2023, children pose for photos next to large letters displayed for the 28th Busan International Film Festival (BIFF) at the Busan Cinema Center in Busan. (AFP)
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Netflix War Epic to Open Asia’s Largest Film Festival

In this file photo taken on October 4, 2023, children pose for photos next to large letters displayed for the 28th Busan International Film Festival (BIFF) at the Busan Cinema Center in Busan. (AFP)
In this file photo taken on October 4, 2023, children pose for photos next to large letters displayed for the 28th Busan International Film Festival (BIFF) at the Busan Cinema Center in Busan. (AFP)

A Netflix period war drama produced by South Korean filmmaker Park Chan-wook will open Asia's largest film festival Wednesday, the first time a streaming title has kicked off the event.

Directed by Kim Sang-man and featuring Korean megastar Gang Dong-won in a lead role, "Uprising" is one of 224 official entries at this year's Busan International Film Festival (BIFF), which runs until October 11.

The film has attracted significant attention ahead of its world premiere thanks largely to the involvement of Park, best-known for ultra-violent thrillers like 2003's "Old Boy", which played a key role in bringing South Korean cinema to the global forefront.

Park was a screenwriter and producer on "Uprising", a story set during Korea's Joseon Dynasty about two friends who grow up together -- but become enemies when war breaks out in the country.

"I believed it was a work that could appeal to the public (the most) among all the (BIFF) opening films in history," Park Do-shin, the festival's acting director, has said of the choice.

Streaming-only content like Netflix's "Squid Game" and the Apple TV+ series "Pachinko" have contributed to a significant surge in the global visibility of Korean and Korean diaspora stories in recent years.

Busan's 2024 line-up reflects how that content has become an "important part of our culture," BIFF programmer Jung Han-seok said.

On Wednesday morning, ahead of the opening ceremony, visitors were already queuing at festival venues, while the red carpet for the star-studded opening ceremony had been laid out.

- Why streaming? -

The decision to open this year's edition with a major streaming title, however, has sparked criticism within South Korea's cinema community, as BIFF has long been dedicated to supporting emerging talents in Asia as well as small-scale, independent films.

"I find it disappointing that a streaming title was selected as the opening film," Kay Heeyoung Kim, who owns film studio K-Dragon, told AFP.

"The challenges confronting the theatre-based physical film market and filmmakers can be partly attributed to the streaming platforms."

This year's edition also comes as organizers still grapple with the fallout from former festival director Huh Moon-yung, who resigned last year amid accusations of sexual misconduct. The director position remains vacant.

The South Korean government's budget for supporting film festivals including BIFF was also slashed by half this year.

Despite those setbacks, this year's 29th edition is presenting about 15 more films than last year, organizers said, with 86 world premieres.

- Award winners -

BIFF will posthumously honor South Korean actor Lee Sun-kyun, screening six of the actor's film and television works, including "Parasite", "Our Sunhi" (2013) and a portion of TV series "My Mister" (2018).

Best known globally for his starring role in Bong Joon-ho's 2019 Oscar-winner "Parasite", Lee was found dead in an apparent suicide last year after a two-month investigation into suspected drug use, sparking public outrage over what many perceived as an excessive police interrogation.

Meanwhile, filmmaker Kiyoshi Kurosawa, best known for his contributions to the Japanese horror genre, will receive the festival's Asian Filmmaker of the Year award, joining the ranks of previous winners such as Hong Kong legends Tony Leung and Chow Yun Fat.

The Japanese filmmaker is showcasing two new films at BIFF this year: the violent thriller "Cloud" and "Serpent's Path", a French-language remake of his 1998 film of the same name.

Other notable world premieres include "RM: Right People, Wrong Place", a documentary on K-pop sensation BTS member RM and the making of his second solo album.

Chung, Yu Chieh, a 39-year-old visitor from Taiwan, said she was excited about South Korean director Hur Jin-ho's latest film, "A Normal Family" - a psychological thriller featuring two upper-class couples seemingly leading perfect lives.

Featuring some of the most celebrated veteran performers in South Korea - including actress Kim Hee-ae and actor Jang Dong-gun - the film is one of the most anticipated homegrown films to be featured at BIFF this year.

"I believe (the festival) will be very special," she told AFP.

BIFF's industry platform, the Asian Contents and Film Market, will host a conference focused on the integration of AI in content production -- a current hot-button issue in Hollywood.

Companies including South Korea's CJ ENM, Chinese VOD service iQIYI and Microsoft will take part.