By John Young
Updated November 06, 2010 at 06:33 PM EDT

Image Credit: DreamWorks AnimationParamount Pictures’ and DreamWorks Animation’s Megamind kicked off the holiday movie season by collecting $12.5 million on Friday, according to early estimates. That’s slightly more than the $12.1 million snared by DreamWorks’ last original CG-animated movie, How to Train Your Dragon, which opened in March. Megamind should see a big uptick on Saturday as kids will be out of school and singing that “Mega-Mega-Megamind” song until their parents crack. Figure a weekend total of about $45 million, which is right in line with what Paramount said they were anticipating for the $130 million film. (I was thinking the star-power of Will Ferrell, Brad Pitt, and Tina Fey would knock the movie above $50 million, but we learned a valuable box-office equation today: Ferrell + Pitt + Fey = dragon).

Right behind Megamind was Warner Bros.’ Due Date, which lit up $12.2 million on Friday. The Legendary Pictures co-production is on track for about $35 million this weekend, which is a very solid number for an R-rated comedy. (By comparison, director Todd Phillips’ prior movie, The Hangover, opened to $45 million its first weekend last year). In third place was Tyler Perry’s For Colored Girls, which took home an estimated $7.4 million. The R-rated drama should finish the weekend with around $20 million, which is lower than usual for Perry, but still a commendable result. In fourth place was Saw 3D, which dropped 75 percent from last Friday to snag $2.7 million. And Summit’s action comedy Red continues to age at a glacial speed, slipping only 27 percent for $2.5 million — enough for fifth place.

In limited release, Danny Boyle’s Oscar-hopeful 127 Hours, starring James Franco, made $77,000 from just four locations for an energetic $19,250 per-theater average. And Fair Game, directed by The Bourne Identity‘s Doug Liman, earned a quite respectable $180,000 from 46 theaters. Check back here on Sunday for the complete box office report.

1. Megamind — $12.5 mil

2. Due Date — $12.2 mil

3. For Colored Girls — $7.4 mil

4. Saw 3D — $2.7 mil

5. Red — $2.5 mil

Box office preview: Megamind to lead a monster weekend