The Hobbit: The Battle of Five Armies, Unbroken and Into the Woods are vying for the top spot at the New Year box office.

Box office earnings following Christmas rose by seven percent  compared to last year's and is expected to continue this year as each of the three films are projected to earn over US$20 million in receipts.

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Variety reports that either Unbroken, Into the Woods or last weekend's top grosser, The Hobbit: The Battle of the Five Armies should land the top spot.

"I think they'll give 'The Hobbit' a run for its money," Phil Contrino, vice president and chief analyst at BoxOffice.com said, predicting that "either one could end up in first."

Furthermore, box office analysts predicted that the post-holiday box-office winner could top US$25 million in gross.

Projected as a family movie, Into the Woods has better opportunities to out earn its two contenders, although The Hobbit might still hold on to its winning streak.

Because New Year's Day is on Thursday, there's a great chance for more people to hit the cinemas, thanks to the extended weekend.

All in all, ticket receipts for 2014 is expected to decline by five percent as movie attendance also followed similar declining trend.

Predicted to round up the top five at the box office included Night at the Museum: Secret of the Tomb and Woman in Black 2: Angel of Death, which makes its debut weekend, while into the sixth spot is the remake of Annie. 

TagsUnbroken, The Hobbit: The Battle of the Five Armies, Into the Woods, weekend box office