7 March 2013 4:49 PM, PST | Box Office Mojo | See recent BoxOfficeMojo.com news »

Midnight Update: Oz The Great and Powerful opened to an estimated $2 million from Thursday night and midnight shows. That's about half of Alice in Wonderland ($3.9 million), though it's above Snow White and the Huntsman ($1.55 million), which had more midnight appeal thanks to its older-skewing audience and Summer release date. That Snow White figure suggests Oz will earn at least $70 million, though it could definitely go higher.Forecast: The first 2013 movie with legitimate blockbuster potential hits theaters this weekend, and it should be powerful enough to at least temporarily improve the dreary domestic box office.Thanks to its strong brand, persistent marketing, and total lack of competition, Oz The Great and Powerful will easily have the strongest debut of the year so far when it opens at 3,912 locations this weekend. Revenge thriller Dead Man Down also opens nationwide this weekend, though it has received a very light marketing push and won't come close to cracking $10 million. »

- Ray Subers <mail@boxofficemojo.com>

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