It was a tale of two fairy tales at the box office on Friday night as Sam Raimi's big-budget take on the world of Oz, "Oz the Great and Powerful," premiered to a stellar $24.1 million, while holdover "Jack the Giant Slayer" continued to show few signs of life, nabbing only $2.5 million.

"Oz," which stars James Franco, Mila Kunis, Rachel Weisz and Michelle Williams, is on track to earn between $75 million and $80 million for the three-day frame, making it one of the biggest grossers in March history, behind "The Hunger Games" ($152.5 million) and "Alice in Wonderland" ($116.1 million).

Disney was hoping to spin a new franchise out of "Oz," and will likely move forward with confidence after this opening weekend. 

Meanwhile, Bryan Singer's pricey "Giant Killer" is expected to gross about $10 million for the frame, which would bring its domestic total to around $44 million. It reportedly cost nearly $200 million to produce.

New wide release "Dead Man Down" is likewise off to a shaky start. The thriller, which stars Colin Farrell and Noomi Rapace, earned just $1.8 million from over 2,000 screens. It will likely pick up around $5.5 million in its debut weekend. 

"Identity Thief" continues to do steady business, adding another $1.8 million to its $100 million+ cume, while fellow comedy "21 and Over" rounds out the top five, picking up another $1.6 million. 

Look for complete weekend estimates Sunday on HitFix.

Dave Lewis has been a Los Angeles-based entertainment writer and editor for nearly ten years. Originally hailing from Minneapolis, he moved to L.A. in 1996 to attend USC, before working for various periodicals and web sites including a lengthy stint at He joined the HitFix staff in 2011.