High School Musical 3 is a Box Office Hit!

High School Musical 3: Senior Year has danced its way to the top of the U.S. box office chart, raking in $42 million in its opening weekend.

The Disney movie, which stars teen actors Zac Efron, Vanessa Hudgens and Ashley Tisdale, set a new record for a musical after trumping the $27.8 million Mamma Mia! opened with in July.

High School Musical 3 comfortably beat horror film Saw V, which took $30.5 million to debut at two.

Last week's number one, Max Payne, the big screen adaptation of the violent video game, slips to number three in its second week on release with $7.6 million, while Beverly Hills Chihuahua is at four with $6.9 million.

Meanwhile, Colin Farrell and Edward Norton's cop drama Pride and Glory just scraped its way into the top five with a poor opening of $6.3 million.