Oz: The Great and Powerful has broken the 2013 box office slump and opened to an incredible $24 million for just Friday. The film is predicted to come #1 at the box office for the weekend, and is also predicted to make anywhere from $80 - 90 million for the entire weekend.
The film shows that the fairly tale genre isn't dead after all, although it certainly looked that way after Jack the Giant Slayer did so poorly at the box office. Of course, Oz is a huge brand name and the Wizard of Oz classic of the early 1900s remains one of the most beloved films of all time.
In addition to this built-in awareness, decent reviews, and a strong cast in James Franco, Mila Kunis, Michelle Williams, and Rachel Weisz, the film had a great momentum going in.
Disney's also been doing non-stop promotion for the film for the past couple of weeks, with TV Spots and interviews from the actors saturating billboards and television shows. Right now, the film's set to become the first real blockbuster of the year, and although it's not on track to beat Alice in Wonderland's total box office, it might come pretty close.