Newcomer "Into the Woods" is predicted to earn $26 million Christmas weekend but would likely come second to "The Hobbit: The Battle of Five Armies" which most likely to earn at least $30 million on its third weekend, Variety reported.

The musical film boast of a ensemble that includes Meryl Streep, Emily Blunt, James Corden, Anna Kendrick, Johnny Depp and Chris Pine.

It is described as "a modern twist on the beloved Brothers Grimm fairy tales in a musical format that follows the classic tales of Cinderella, Little Red Riding Hood," IMDb stated.

Angelina Jolie's "Unbroken" is also making an impression with $850,000 earnings on Christmas Eve while "Into the Woods" grossed $1.1 million.

The movie stars Jack O'Connell who is also expected to be nominated for best actor and supporting actor Miyavi also has a fair shot for playing the main villain.

"Unbroken" is about Olympic runner Louis Zamperini and his ordeal after being lost at sea. The Japanese soldiers took prisoner Zamperini during World War II.

"The Hobbit: The Battle of Five Armies" meanwhile raked in $6 million on Christmas Eve, making it the most-watched film on Christmas Day.

Blogs IndieWire said "Christmas Day is often the highest-grossing holiday of the year, with an adult skew. Opening Christmas Day films can deliver their best showing (with the added benefit of Christmas Eve previews), only to see positions change over the following days. In particular, family-oriented films soar right after Dec. 25. But initial performance remains an important indicator of how the rest of the holiday period will roll out."

Ben Stiller's "Night of the Museum: Secret of the Tomb" made $7.35 million o Christmas Eve and new release, "The Gambler" (Paramount), with $5.0 million. "Annie" (Sony) meanwhile made $4.6 million.

"Exodus: Gods and Kings" made (Fox) earned $3 Million and "The Hunger Games: Mockingjay Part 1"with $2.7 million.