November 17th 2024.
According to the Associated Press, moviegoers did not seem to be in the holiday spirit this weekend, at least not when it came to the Christmas-themed film "Red One." Despite its star-studded cast of Dwayne Johnson and Chris Evans, the big-budget action comedy only brought in $34.1 million in its opening weekend. This easily outperformed the other films in the box office, most of which were holdovers from previous weeks.
For traditional studios, a debut of $34.1 million against a production budget of over $200 million would typically be considered a flop. In fact, some sources even estimate the budget to be closer to $250 million. However, "Red One" is a release from Amazon MGM Studios, which allows it the luxury of taking a longer approach to its success rather than solely relying on global box office numbers. With Amazon's vast subscriber base, the film may have a long life on their streaming platform, Prime Video.
Interestingly, "Red One" was originally intended to go straight-to-streaming and was greenlit before Amazon's acquisition of MGM. Some experts believe that the theatrical release was not only a bonus but also a gesture towards struggling theaters in need of new content. Kevin Wilson, head of distribution for Amazon MGM Studios, notes the value in reaching a large audience through the platform's 250 million plus worldwide subscribers.
As the first major studio holiday release since 2018, "Red One" opened on over 4,000 screens, including IMAX and other large formats. Despite a relatively quiet weekend for major releases, Wilson expressed satisfaction with the film's performance, stating that it was a good result for an original film in the unforgiving theatrical marketplace.
Since 2020, only seven films that were not sequels or based on existing intellectual property have opened with over $30 million in ticket sales. Warner Bros. is handling the overseas release of "Red One," where it has already earned an estimated $50 million in just two weekends.
However, it's important to note that "Red One" may not be considered a theatrical hit in North America. Even "Joker: Folie à Deux," which received mixed reviews, made slightly more in its first weekend. The film, directed by Jake Kasdan and produced by Johnson's Seven Bucks, was met with negative reviews from critics, earning a dismal 33% on Rotten Tomatoes. Jake Coyle of the Associated Press described it as "an unwanted high-priced Christmas present."
Despite the criticism, audiences seemed to enjoy "Red One," giving it an A- CinemaScore. This suggests that the idea of the film becoming a perennial holiday favorite may not be too far-fetched. Additionally, Wilson notes that the film is performing well in the middle of the country and may have a nice holdover during Thanksgiving as an alternative to the larger blockbuster films.
In the rest of the box office, "Venom: The Last Dance" from Sony took second place with $7.4 million, bringing its domestic total to $127.6 million. Lionsgate's "The Best Christmas Pageant Ever" came in third with $5.4 million, while A24's "Heretic" starring Hugh Grant earned $5.2 million, bringing its total gross to $20.4 million.
Universal and DreamWorks Animation's "The Wild Robot" rounded out the top five in its eighth weekend, earning an additional $4.3 million. The animated film has now surpassed $300 million worldwide.
This weekend served as a bit of a lull before the arrival of the highly-anticipated Thanksgiving tentpoles. Next week, "Wicked" and "Gladiator II" will go head-to-head in theaters, along with "Moana 2" which also features Johnson. "Gladiator II" has already had a strong start internationally, grossing $87 million in 63 markets. It is set to release in the U.S. and Canada on November 22nd.
Final domestic figures will be released on Monday. Estimated ticket sales for the weekend at U.S. and Canadian theaters, according to Comscore, are as follows:
1. "Red One," $34.1 million.
2. "Venom: The Last Dance," $7.4 million.
3. "The Best Christmas Pageant Ever," $5.4 million.
4. "Heretic," $5.2 million.
5. "The Wild Robot," $4.3 million.
6. "Smile 2," $3 million.
7. "Conclave," $2.9 million.
8. "Hello, Love, Again," $2.3 million.
9. "A Real Pain," $2.3 million.
10. "Anora," $1.8 million.
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