Shyamalan's 'Old' Is New Box Office Champ, 'Space Jam' Drops To Fourth Place

M. Night Shyamalan's horror-thriller "Old" from Comcast Corporation's CMCSA Universal Pictures was the top film in U.S. theaters over the weekend, albeit with a relatively mild $16.5 million box office in a release on 3,355 screens.

What Happened: "Old" and "Snake Eyes: G.I. Joe Origins" from ViacomCBS' VIAC Paramount, which grossed $13.3 million, were the two new major releases over the weekend, taking the top two spots among the highest grossing films despite mixed-to-negative reviews and a lack of bankable Hollywood stars.

But the big story over the weekend was the collapse of last weekend's box office champ, "Space Jam: A New Legacy" from AT&T's T Warner Bros., which grossed $31 million in its opening weekend but dropped by 69% to only $9.5 million in its second weekend in theaters. However, both "Space Jam" and the third place finisher at the box office, The Walt Disney Company's DIS "Black Widow" (grossing $11.6 million) are being simultaneously released in theaters and on streaming services, whereas "Old" and "Snake Eyes," along with fifth place finisher "F9" from Universal (grossing $4.7 million), are exclusive to theaters.

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What Happens Next: Looking ahead, the big releases opening July 30 include "Stillwater" starring Matt Damon from Comcast's Focus Features, Disney's "Jungle Cruise" starring Dwayne Johnson and Emily Blunt, and A24's "The Green Knight" starring Dev Patel and Alicia Vikander.

A24 also scored the Sept. 24 opening night selection at the New York Film Festival with "The Tragedy of Macbeth," a new film version of the Shakespeare perennial starring Denzel Washington and Frances McDormand under the direction of Joel Coen. The film will have its streaming release via Apple Inc.'s AAPL Apple+ following its theatrical engagements.

Photo: Gael García Bernal in "Old," courtesy Universal Pictures.