Percy may be able to throw lightning, but can he make Fox money?
San Antonio author RICK RIORDAN’s Percy Jackson series may be a kid lit phenomenon, but the jury’s still out whether it will be a Hollywood franchise.
“PERCY JACKSON & THE OLYMPIANS: THE LIGHTNING THEIF” took in $31.2 million during its Feb. 12-14 opening weekend. Formidable, but not something FOX probably wanted to see when it dropped $95 million on the film. Receipts fell more than 50 percent the following weekend to $15.3 million.
So far, “Percy” has grossed $60.1 million in domestic theaters, which is some pretty good scratch. Problem is, domestic box office returns are well short of the studio’s investment in the film, and they’ll probably continue to slide over following weeks.
Of course, Fox also will figure in foreign box office, DVD sales and television licensing before it decides whether to green light a second installment. If Fox thinks Percy can ride the lightning into home screen popularity, it may be more willing to write another check.
