An animated kids film that is part of a successful trilogy, is opening to $55M, and is taking a lot of Alita's PLF screens. I'm sure HTTYD has an audience that skews younger, but given that the first movie came out 9 years ago, there is bound to be some overlap.It dropped 60% in a week where the only new competition was an animated kids film. Next week it loses theaters, and then Captain Marvel arrives to binary-blast it. At best this is another Warcraft situation, where it flakes out but it makes some money in China, and since this wasn't a Chinese co-production the studios only get 25% of the take there.
It definitely doesn't look good for Alita in the U.S., but with such a low opening, I think it was less about having legs that would make it a success and more about having legs that would help it save face, with overseas really determining it's fate.