The Hobbit

Despite a record-breaking opening, The Hobbit: An Unexpected Journey experienced a significant 57% drop off in its second week, bringing in an estimated $36.7 million, with an $8,952 per screen average.Paramount’s ‘Jack Reacher’ opened this past weekend in second place with a modest $15.6 million. Based on the popular Lee Child-created character, the Tom Cruise action flick has been somewhat of a box office wild card and will have to struggle to maintain momentum to make up the costs for the $60 million production. Read more below.