Garry Marshall's star-studded "New Year's Eve" captured the No. 1 spot at the nation's weekend box office, earning a disappointing $13.7 million as overall receipts fell to their lowest levels in more than three years.

Warner Bros. and New Line expected "New Year's Eve" to make $20 million or more in its debut.

"The box office was just in really bad shape," Warner Bros. president of domestic distribution Dan Fellman said.

Overall revenues for the weekend came in at an estimated $78 million, the lowest number since early September 2008, when revenues reached only $68 million over the Sept. 5-7 weekend.