The Hobbit: An Unexpected Journey grossed another $5.85 million over the weekend to reach $28.63 million at the local box office.
The first prequel to the record-breaking Lord of the Rings trilogy posted an impressive screen average of $10,453 across 560 screens.
The first three Lord of the Rings films each grossed between $45-$49 million when they were released in Australia between 2001-2003. However, the first of the three Hobbit prequels has been less widely praised with critics focusing on the film's length (almost three hours) while the high frame rate version has drawn mixed responses.
Another VFX-heavy film, The Life of Pi, opened with $7.96 million across 545 screens. The Ang Lee-directed film was shown across 545 screens, delivering a strong screen average of $9060.
Musical Les Misérables grossed $3.11 million in its second weekend, dropping 38 per cent on its opening. However, its screen average also remains strong at $9213 (across 338 screens) and the film has now taken $13.64 million in total.
Rounding out the top five films over the weekend were Wreck it Ralph ($3.02 million in its second weekend) and Tom Cruise action pic Jack Reacher (which opened with $2.94 million).