`MATRIX' HAS RIGHT EFFECT: CASHING IN.

Byline: Dave McNary Daily News Staff Writer

Moviegoers connected in impressive numbers with ``The Matrix'' as the science-fiction thriller took in an estimated $27.7 million at 2,849 theaters during the Friday-Sunday period to dominate the nation's Easter weekend box office, studio sources said Sunday.

The Warner Bros.' release, with Keanu Reeves as the leader of a 21st-century rebellion against computers, posted the best opening weekend this year - well above ``Payback's'' $21.2 million - and pushed its five-day total to $37.2 million in a showing that blew away earlier forecasts.

``We think we've hit a home run,'' said studio distribution chief Dan Fellman. ``People leaving the theaters are saying they've never seen anything quite like it.''

Analysts agreed that the special effects in ``The Matrix,'' which portray a world of liquid-like space and variable time, have proven a potent draw.

``It's the first time that a virtual reality film has done major business,'' noted Robert Bucksbaum, president of the Reel Source tracking service, who predicted ``The Matrix'' will draw $90 million by the end of its run.

Film analyst Arthur Rockwell credited the studio, which has lost market share in recent years, with a savvy promotional campaign capitalizing on young moviegoers being on spring break.

`` `The Matrix' is classic Warner movie-making at its best, with big action-adventures like the `Lethal Weapon' series,'' he added. ``Not taking anything away from Keanu Reeves, but the concept was very strong and probably would have worked with other actors.''

Fellman said ``The Matrix,'' which fell short of the $38 million record by ``Liar Liar'' for best five-day opening during January-April, received strong support in all geographic regions.

``The Matrix'' may give 1999's box office, which trails last year's by 8 percent, a jolt in the weeks prior to the May 19 opening of ``Star Wars Episode 1: Phantom Menace.''

``If `The Matrix' can do this well, think how well `Star Wars' will do,'' Bucksbaum noted.

Finishing a distant but respectable second was Disney's opening of ``10 Things I Hate About You'' with $8.7 million at 2,271 theaters, giving the teen comedy $11.9 million after five days. That edged Paramount's debut of ``The Out-of-Towners,'' with Steve Martin and Goldie Hawn in an update of the 1970 Jack Lemmon-Sandy Dennis comedy, with $8.1 million at 2,102 sites.

Holdover comedies dominated the rest of the slate, led by DreamWorks' third weekend of Sandra Bullock's ``Forces of Nature'' with $6.4 million at 2,278 theaters and Warner's fifth weekend of ``Analyze This'' with $6.3 million at 2,335 locations. The latter has totaled $78.5 million overall and should go past ``Payback'' this week as the top grosser among films released this year.

Universal's second weekend of ``EDtv'' faded to sixth with $4.9 million at 2,630 theaters, a steep 40 percent decline from its opening despite strong critical support. Miramax's 17th weekend of ``Shakespeare in Love'' continued to bask in the afterglow of its seven Academy Awards with $3.5 million at 1,735 locations, pushing its total past $84 million.

Disney's second weekend of its low-cost ``Doug's 1st Movie'' came in eighth with $3.1 million at 2,268 screens, followed by Miramax's 24th weekend of ``Life Is Beautiful'' with $2.9 million at 1,130 theaters. The Italian-language comedy-drama has pulled in a remarkable $44.9 million overall.

MGM's second weekend of ``Mod Squad'' finished a disappointing 10th with $2.5 million at 2,290 theaters, representing a stunning 59 percent decline from its debut weekend. A pair of art-house entries opened well, with October Films' ``Cookie's Fortune'' taking in $188,600 at 10 theaters and Sony Classics' ``The Dreamlife of Angels'' grossing $59,000 at six sites.

Overall grosses hit about $89 million, up about 6 percent from the same weekend a year ago when the opening of ``Lost In Space'' led with $20.2 million as it dislodged ``Titanic'' from the top spot for the first time in 16 weekends. Year-to-date grosses have hit $1.4 billion.

Final results for the Friday-Sunday period will be released today.

TOP MOVIES

Estimated grosses for Friday through Sunday at North American theaters.

1. ``The Matrix,'' $27.7 million.

2. ``10 Things I Hate About You,'' $8.7 million.

3. ``The Out-Of-Towners,'' $8.1 million.

4. ``Forces of Nature,'' $6.4 million.

5. ``Analyze This,'' $6.3 million.

6. ``EDtv,'' $4.9 million.

7. ``Shakespeare in Love,'' $3.5 million.

8. ``Doug's 1st Movie,'' $3.1 million.

9. ``Life is Beautiful,'' $2.9 million.

10. ``The Mod Squad,'' $2.5 million.

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