The Dragon has landed – gently. The fire and rampage expected from the ticket sales of “How to Train Your Dragon” simply did not materialize. Of course, this does not mean that the movie bombed but rather that expectations were not met. Analysts expected the movie to open to at about $65 million to $70 million in revenues, but it only managed to bring in $43.3 million at the domestic box office.
Disappointing as it may be, this was perhaps only to be expected. The novelty of the 3D market is wearing off. While “Avatar” has become the highest grossing movie ever and “Alice in Wonderland” keeps bringing in the big bucks, the 3D market is perhaps not ready to have more than two movies competing at the same time. Running the “Dragon” up against “Alice” and “Avatar” while ticket prices being higher than normal 2D movies was not a good move in hindsight. The movie being released at a time when ticket prices went even further up was just plain bad luck. All in all, the circumstances did not help the “Dragon” at all.
However, this raises an interesting question. Will the moviegoers be willing to continue paying premium rates for 3D movies? For “Avatar” it was justified as the theaters that showed the 3D version had to upgrade their equipment. But as the revenues roll in, prices should drop and not go up. Addressing this important factor is crucial for the future of 3D movies.