Reaching the Summit23 Mar, 2009 By: Erik Gruenwedel
You know times are good when your No. 1 DVD release impacts your No. 1 theatrical release and you still win. That’s the dilemma Summit Entertainment found itself in over the March 22 weekend as the home video release of Twilight lived up to hype, selling 3 million units in 24 hours. That rush at retail (and NCAA March Madness), say some experts, contributed to a 5.2% weekend box office decline, compared to the same period last year. It is the second consecutive weekly box office decline.
Then again, Summit’s Knowing, a sci-fi action movie panned by most critics, tallied $24.8 million at the box office — $9.8 million above projections.
Summit also announced that Catherine Hardwicke — the director lauded for Twilight’s onscreen appeal (who reportedly declined to do the sequel) — had been signed to helm another budding franchise, based on the adaptation of the young-adult novel If I Stay.
Yes, the sun is indeed shining at Summit.