Box office: 'Pirates 5' heads for $75M; 'Baywatch' belly flops

The waters are choppy at the Memorial Day box office.

Disney's Pirates of the Caribbean: Dead Men Tell No Tales is easily winning the four-day holiday regatta with an estimated $75 million from 4,276 theaters, while Baywatch is belly flopping with a projected $23 million in a rare miss for Dwayne Johnson, who stars alongside Zac Efron in Paramount's R-rated adaptation of the classic TV show.

Pirates5, returning Johnny Depp in the lead role as the zany Captain Jack Sparrow, is being billed as the final chapter in the storied franchise and is pacing well behind the last three installments in the U.S.

Read more: In Theaters This Weekend: Reviews of 'Pirates 5,' 'Baywatch' and More

Franchise fatigue among U.S. consumers is a huge concern for Hollywood, and Disney is counting on Pirates 5 doing huge business overseas to make up for any deficit closer to home. The movie, costing north of $200 million to make before a major marketing spend, is expected to debut to $200 million internationally this weekend for a global launch of $275 million.

Joachim Ronning and Espen Sandberg, who helmed the breakout international darling Kon-Tiki, directed Pirates 5. Starring alongside Depp are Javier Bardem, Brenton Thwaites, Kaya Scodelario, Kevin R. McNally, Golshifteh Farahani, David Wenham, Stephen Graham, Orlando Bloom and Geoffrey Rush.

RELATED: Disney live-action movies in production

Disney Live-Action Movies in Production
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Disney Live-Action Movies in Production

Donald Glover will play Simba in the upcoming live-action adaption of "The Lion King," and James Earl Jones will reprise his role as Mufasa (!!!). According to Disney, the film is on the "fast track" through production and may arrive sooner rather than later. Jon Favreau will direct -- he also directed 2016's "The Jungle Book," so he's sure to crush it!

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Now this is interesting: Disney is developing a story centered on Prince Charming (either from "Cinderella" or "Snow White"). There's a lot of work to be done there since the original men weren't exactly riveting characters.

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In perfect casting news, Reese Witherspoon has signed on to play the sassy Neverland fairy in "Tink."

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Your childhood crush is coming to life. The new "Aladdin" will reportedly be a brand-new take on the beloved story and is expected to seriously deviate from the original plot. In March 2017, Disney announced open casting calls to find their perfect Aladdin and Jasmine. They're looking for Middle Eastern actors, and shooting begins this summer.

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We've seen remakes of "Peter Pan" before, but the magical story is slated for another upcoming live-action reboot. It's difficult to cast because not too many actors have pointed elf ears.

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What's Christopher Robin up to now? The upcoming "Winnie the Pooh" adaption will show us: In this version, he'll be all grown up.

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The live-action "Mulan" is currently in pre-production, and the actress taking on the title role hasn't yet been announced. It's scheduled for a 2018 release.

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Disney is working on a real-life "Little Mermaid," and she better still be a redhead.

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Emma Stone will play the evil Cruella in the 2018 flick. You've gotta assume she received offers for "The Little Mermaid," too, and she was like, nah, I know what I'm about.

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Disney announced an "Aladdin" prequel that reveals Genie's backstory, but the plan was tabled (or maybe entirely scrapped) in favor of an Aladdin-focused story. We'll see if it moves back into development.

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"The Sword in the Stone," released in 1963, is making its return! The story features King Arthur before he reigned supreme: He was an orphan who received special lessons from Merlin the wizard.

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Tim Burton is directing the live-action "Dumbo," which means it may not be quite so cheery as the original.

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The new adaption of "Pinocchio" will reportedly be only loosely based on the original story.

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After the smash success of 2016's "The Jungle Book," it was no surprise that Disney decided to move forward with a sequel.

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Angelina Jolie will return as Maleficent in a sequel to the 2014 film.

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"Snow White," originally released in 1938, is getting a much-deserved remake. 

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Did you know Snow White has a sister? Neither did we, but apparently her name is "Rose Red" and she's getting her own live-action movie. She hangs out with the dwarves after her Snow White meets her poisonous (temporary) end.

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The franchise has never been a favorite of critics, outside of the first film, with Dead Men Tell No Tales currently sporting a 32 percent fresh rating on Rotten Tomatoes, roughly on par with the last installment, 2011's Pirates of the Caribbean: On Stranger Tides. Moviegoers liked it far more, giving the film an A- CinemaScore.

Baywatch, directed by Seth Gordon, fared even worse among reviewers, with an 18 percent rating on Rotten Tomatoes.

Read more: 'Baywatch': What the Critics Are Saying

Paramount and Skydance decided to get a jump on the holiday weekend and launch Baywatch on Thursday. The movie is looking at a five-day debut of just $27 million from 3,647 theaters. Adding insult to injury, Disney and Marvel's Guardians of the Galaxy Vol. 2 is expected to beat Baywatch for the four-day weekend with $26 million, compared to Baywatch's estimated $23 million.

Heading into the holiday, pre-release tracking had suggested the comedy would clear $40 million for the five days, although some services lowered their estimates to $37 million late last week. Audiences bestowed Baywatch with a B+ CinemaScore. The movie skewed slightly female (52 percent) on Thursday, while 45 percent of ticket buyers were under the age of 25.

Baywatch, costing under than $70 million to produce before marketing, also stars Priyanka Chopra, Alexandra Daddario, Jon Bass, Kelly Rohrbach and Ilfenesh Hadera. It doesn't debut overseas until June 2.

Last summer, PG-13 action comedy Central Intelligence, starring Johnson alongside Kevin Hart, opened to $35 million over the June 17-19 weekend.

Friday-Monday estimates for all films will be updated Monday, the official holiday.

May 26, 12:20 p.m. Updated with revised weekend estimates.
May 27, 7:30 a.m. Updated with revised weekend estimates.
May 28, 7:30 a.m. Updated with revised weekend estimates.

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