Bilbo strolls to top of box office

The Hobbit, prequel to The Lord of the Rings, explores the journey of Bilbo Baggins and how he came to possess the ring later passed onto his kinsman, Frodo. In cinemas December 2012

BILBO Baggins came out swinging on Boxing Day as The Hobbit: An Unexpected Journey broke box office records.

The movie grossed $ 5.925 million in Australia yesterday, the highest ever Boxing Day opening.

It's also the third biggest opening day of all time behind the final Harry Potter and 2012's No.1 film, The Avengers.

The biggest competition for Peter Jackson's 2 hours and 40 minute epic came from star-powered musical Les Miserables, which took $ 1.825 million yesterday. The movie version of the stage hit was also well-attended in limited advance screenings last weekend, which boost its total haul to $ 3.04 million.

Yesterday was a busy day all-round at cinemas, with the Event chain reporting Boxing Day trade almost double that of last year.

The Australian performance of The Hobbit defied what has been considered an underwhelming performance in the United States, where its takings are tracking lower than The Lord of the Rings films. However, with big openings in Russia, Germany and the UK, The Hobbit has already grossed more than $ 450 million worldwide.

Les Mis had a great opening in the US, taking $ 17.5 million on Christmas Day. That's the best ever opening for a musical in the US and the fourth-highest Christmas Day gross of all time.

Figures are not yet available for Boxing Day's family/kid-targeted releases, Parental Guidance and Wreck-it Ralph, though the latter - a Disney animation - is said to be running third behind The Hobbit and Les Mis.

The Hobbit: An Unexpected Journey

Actor Martin Freeman as Bilbo Baggins in Peter Jackson's new movie "The Hobbit: An Unexpected Journey. AFP PHOTO/WARNER BROS

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