If recent reports turn out to be true, 'Fifty Shades of Grey' is likely to have one of the best ever Valentine's Day weekend openings in the history of the film industry. While initial estimates say that the movie version of E.L. James' chart-topping novel, of the same name, will achieve record-breaking figures at the box office, it is believed that the movie may still only be second to 'Valentine's Day' released in 2010.

The Hollywood Reporter says that movie goers' interest in 'Fifty Shades of Grey' is building up to immense levels and it may gross anything between $45 million and $50 million during the four-day opening weekend (including the President's Day on Monday, Feb. 15). If this is true, the upcoming movie may edge out 'Ghost Rider' (2007), which earned $52 million during its Valentine's Day weekend opening and ranked second so far, but fail to go past the earnings of 'Valentine's Day,' which raked in a whopping $62 million in the opening on a Valentine's Day weekend.

Despite its projected record-breaking success, 'Fifty Shades of Grey' is likely to face tremendous competition from other films scheduled for release in the ensuing weeks and months. According to The Hollywood Reporter, while interest in the film is already through the roof, it is difficult to assess the precise impact it will have. It is possible that some movie goers may shy away from watching the film in theaters owing to it sexually provocative subject. At the same time, very similar to E.L. James' novel, the film doesn't seem to offer much for the male audience.

The report says that while 'Fifty Shades of Grey' may fulfill its box-office expectations, it still likely to lag behind other films like the 'American Sniper', which has been nominated for the Oscars.

Meanwhile, Variety notes that the 'American Sniper,' a military drama directed by Clint Eastwood crossed $107 million in its Jan. 16 opening four-day period. The producers of 'Fifty Shades of Grey,' however, are lucky that it is unlikely that other movies released in 2015 so far, like 'Paddington,' 'Mortdecai' and 'The Boy Next Door,' to be major earners at the box office.

'Fifty Shades of Grey' is scheduled to be released on Feb. 13. Currently, the film's only competition is from the Colin Firth spy comedy 'Kingsman: The Secret Service,' which is projected to earn $30 million in its opening.