`Harry Potter' Takes in $77 Million, Meeting Analyst Forecasts

By Michael White

July 16 (Bloomberg) -- ``Harry Potter and the Order of the Phoenix'' took in $77.4 million over the weekend for Time Warner Inc., making it the fourth-best film opening this year behind ``Spider-Man 3.''

The weekend sales put the film's total in the U.S. and Canada at $140 million since it opened on July 11, according to industry tracker Media By Numbers LLC. The five-day tally was the second-best ever after 2004's ``Spider-Man 2,'' which opened in June of that year, and totaled $152.4 million, according to Media By Numbers President Paul Dergarabedian.

The film, the fifth based on J.K. Rowling's books about a boy wizard, may produce $1 billion in worldwide ticket sales for Warner Bros. Ultimately, that may mean $500 million in profit for parent Time Warner, including sales of home videos and toys, said David Davis, managing director of FMV Opinions Inc., a media consultant based in Los Angeles.

```Harry Potter' is effectively competition proof,'' Davis said in an interview. ``People of all ages want to see this film.''

``Phoenix,'' made for about $150 million, is benefiting from positive reviews and the July 21 release of the final book in the series, ``Harry Potter and the Deathly Hallows.'' Excitement over the book will bring fans into theaters and into stores for licensed products such as toys, Davis said.