"New Year's Eve" took the top spot in Friday's Box Office, finally ousting "The Twilight Saga: Breaking Dawn--Part I" from its long reign.
The star-studded flick earned $5.1 million on its opening night but isn't expected to reach its estimated $20 million opening, according to the Hollywood Reporter.
"New Year's Eve" boasts a massive cast that includes the likes of Jessica Biel, Halle Berry, Sarah Jessica Parker, Josh Duhamel, Alyssa Milano, Sofía Vergara, Seth Meyers and Robert De Niro.
"New Year's Eve" had a $26 million production budget and was directed by "Valentine's Day" director Garry Marshall. The scripts of both films were penned or co-written by Katherine Fugate.
"Valentine's Day" earned $72 million in its four-day President's Day weekend. Warner Brothers expect "New Year's Eve" to perform strongly through the holiday season, though, as it is one of the few romantic comedies in theaters.
Jonah Hill's R-rated comedy "The Sitter" landed in No. 2 in Friday's box office, earning $3.7 million and is expected to gross $10 million for the weekend, according to the industry magazine.
"The Twilight Saga: Breaking Dawn--Part I" earned another $2.5 million on Friday and landed in the No. 3 spot. The vampire drama has earned a domestic cume of $259.3 million.
"The Muppets" came in No. 4 on Friday, grossing another $1.7 million, for a domestic cume of $60.4 million.
Martin Scorsese's "Hugo" expanded to 2,600 theaters this week and earned $1.6 million for a $28.9 million total. The film has been performing well after being named best film of the year by the National Board of Review.
The weekend also saw the limited releases of "Tinker Tailor Soldier Spy" and "Young Adult" in four and eight theaters, respectively.
The R-rated spy flick "Tinker Tailor Soldier Spy" stars Gary Oldman, Colin Firth and Tom Hardy and has earned an estimated $22.6 million overseas.
"Young Adult," stars Charlize Theron as a young adult fiction writer who returns to her home town to win back her high school boyfriend, who is now happily married with kids.
The film was the second film collaboration between director Jason Reitman and Diablo Cody, who worked together on the 2007 hit "Juno."
Watch the trailers from this week's releases of "New Year's Eve," "The Sitter," "Tinker Tailor Soldier Spy" and "Young Adult" below.