‘E.T.: 20th Anniversary Edition’ Poised To Break ‘Star Wars’ U.S. Box Office Record

Edwin Pereyra · 02-21-2002, 12:45 PM

As you all know by now, E.T.: The Extraterrestrial” will be re-released on March 22 for its 20th Anniversary with additional scenes, re-mastered sound and enhanced special effects.

At this point, it only needs to make $32M or $62M to break the records of The Phantom Menace and Star Wars, respectively, which is a good possibility. Here is where all three films currently stand at the box office:

Quote:

1. Titanic - $600.8M
2. Star Wars ($322.7M + $138.3M from 1997 SE) - $461.0M
3. Star Wars Episode I : The Phantom Menace - $431.1M
4. E.T. : The Extra Terrestrial - $399.8

Source: Box Office Guru

E.T. held the #1 spot for the longest time until the re-release of Star Wars in 1997 and eventually beaten by Titanic. To put things in perspective, The Empire Strikes Back and Return Of The Jedi each made $68M and $45M, respectively, during their 1997 re-release.

Much like the re-release of Star Wars in 1997, which made an outstanding $138M that no one expected, E.T.’s box office re-release take will be a tough one to call.

While I certainly think that it has a possibility of breaking Star Wars’ total cumulative record of $461M, it will have to rely on a new generation of viewers to do so rather than those who have seen the film before. However, this new generation of viewers can also be big. It is also being strategically released during Easter break or Spring break where most kids will be off.

The bottom line and my prediction: between $70M - $75M.

~Edwin

John Berggren · 02-21-2002, 12:51 PM

I have no clue what to expect from this rerelease. Like Star Wars, it's an amazing modern classic that remains memorable 20 years later. Unlike Star Wars, ET Dissapearred for a very long time when Speilberg refused to release it on video. I don't think it was available legally for ten years. During this time, ten years worth of children didn't see it over and over again - like Star Wars.

Star Wars is on TV all of the time, which likely HELPED it's box office. It'll be interesting to see how many people go to ET, but I wonder if it's ten year dissapearance hurt the long term box office potential.

Dave H · 02-21-2002, 12:58 PM

I agree. I really don't know about E.T. anymore. So many kids have missed out on it and I'm not so sure it will appeal to kids today like it did 10 or 20 years ago.

Rain · 02-21-2002, 12:58 PM

Whatever amount of money this revisionist version of E.T. makes at the box office, not a penny of it will be coming from my pocket.

To stay on topic though, I will comment on box office grosses.

This is rather a meaningless statistic, isn't it? After all, any film released today could conceivably make more money than a film that came out 10 or 15 years ago even if less people go to see it, simply because movie ticket prices have continued to increase at a ridiculous rate.

Edwin Pereyra · 02-21-2002, 01:03 PM

Quote:

This is rather a meaningless statistic, isn't it? After all, any film released today could conceivably make more money than a film that came out 10 or 15 years ago even if less people go to see it, simply because movie ticket prices have continued to increase at a ridiculous rate.

Apparently, Rain, you haven't followed the box office returns from the re-release of 2001: A Space Odyssey which has prevented it from being re-released beyond the 70mm screenings last year.

~Edwin

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DaveF · 02-21-2002, 01:04 PM

Like Rain suggested, I'm curious what the inflation-adjusted values for gross are? I'd also be interested in the ROI? And maybe how many kernels of popcorn were consumed during each movie (just trying to find better metrics)

Actually, the best metric might just be how many tickets were sold for each movie, cumulative. Any stats?

Chuck Mayer · 02-21-2002, 01:06 PM

Actually Edwin, I *predicted* (to no one but myself, I admit) Star Wars: SE to make a complete killing in a rerelease. I was amazed to find it on only one screen where I was living at the time. A revved up version of THE classic for my generation...HUGE. Now E.T., I don't know. I am thinking more like $40 million, which'll be more than the current dogs at the theater are taking home. This doesn't scream theater to me like SW did. But a good family film is hard to find, though. Like Rain, I won't be there. But I don't have young ones either. If the eventual ORIGINAL is available on DVD (as reported), I'll purchase and watch. But I won't believe it until I see it.

Take care,
Chuck

Rain · 02-21-2002, 01:10 PM

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Apparently, Rain, you haven't followed the box office returns from the re-release of 2001: A Space Odyssey which has prevented it from being re-released beyond the 70mm screenings last year.

I'm not sure what your point is there, Edwin. Are you saying that because the limited re-release didn't make enough money that it won't be released wider?

The only thing that proves is that the general movie-going public wouldn't know a good film if it bit them in the ass.