'Shutter Island' wins weekend with $40.2M (HWD)

By Paul Dergarabedian and Wiretap Staff

Paramount's "Shutter Island" is a total winner for the studio with a solid $40.2 million weekend.

While much press attention had been devoted to the film's shift from an October 2009 release date, it looks like the move paid off handsomely in box-office dividends as horror buffs and Scorsese and DiCaprio fans lined up to see the film in droves.

In the final analysis, all the press attention only served to raise "Shutter Island's" profile in the mainstream media and further enhanced its chance for box-office success.

In second place was Warner Bros.' President's Weekend record-breaker "Valentine's Day" with $17.2 million and a total cumulative approaching an impressive $90 million. The film was keyed very heavily to the Valentine's weekend and thus the 69% drop was expected in the wake of such a huge debut.

In third place Fox's "Avatar" continues to play a major factor in the Top Five even after ten weeks of release. With $16.1 million and a tenth weekend drop of just 32%, the James Cameron multiple Oscar nominee continues its staggering run and is now at $687.8 million in domestic returns.

Last week's number two film, Fox's "Percy Jackson and the Olympians," grabbed up another $15.3 million as its family-friendly PG rating has only enhanced its position in the marketplace. With a 51% drop in the aftermath of an impressive President's weekend debut, the film is now at $58.8 million in domestic kid powered bucks.

Finally rounding out the Top Five is Universal's "The Wolfman," which also debuted last weekend over the extended holiday frame and posts another $9.8 million against a 69% drop (same as "Valentine’s Day") and crosses the $50 million mark. The R-rated re-telling of a horror classic certainly has the pedigree to draw audiences looking for a solid R-rated horror moviegoing experience.

Oscar nominees "Crazy Heart" from Fox Searchlight and Warner Bros.' "The Blind Side" showed great holding power with 29% and 34% drops respectively as moviegeoers do their prep work for Oscar night on March 7.

A roller-coaster ride at the nation's theaters as box-office dips below last year's comparable weekend after a record-breaking President's frame last week and we put the eighth weekend of the year in the books.

Next week Warner Bros. offers up Bruce Willis and Tracy Morgan in the buddy cop comedy "Cop Out" while Overture Films brings the horror stylings of "The Crazies" to the big screen.