The Hobbit: The Desolation of Smaug remains holiday favorite at box office

PETER JACKSON's THE HOBBIT: THE DESOLATION OF SMAUG has fought off competition from the ANCHORMAN sequel to hold on to the top spot at the box office for a second consecutive week.

The fantasy film, starring Martin Freeman, Orlando Bloom and Benedict Cumberbatch, earned another $31.5 million to stay at number one, ahead of Will Ferrell's Anchorman 2: The Legend Continues, which debuted with $26.8 million .

Disney's animated Frozen was in third place, taking in $19.2 million to edge out David O. Russell's American Hustle, which entered at four with $19.1 million .

Meanwhile, Walking With Dinosaurs 3D, based on the BBC miniseries of the same name, failed to entice young viewers - the family adventure, which features the voices of Justin Long and John Leguizamo, entered the chart at number eight, grossing just $7.3 million . The digital dinosaur movie cost $85 million to make.

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