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Tag: Tenet

  • ‘TENET’ Box Office Sees Slight Drop as Warner Bros. Delays Its October Releases

    ‘TENET’ Box Office Sees Slight Drop as Warner Bros. Delays Its October Releases

    Tenet was supposed to rejuvenate cinemas. Production studios were hoping that this blockbuster could bring people back. Yet, its opening weekend was at the lower end of expectations. On labor day weekend, Christopher Nolan‘s film only drew in $20 million. Warner Bros. got nervous about how it would be reported. Not all cinemas were open, so they worried it would’ve been portrayed as a major flop. No one was expecting the film to surge like it was pre-pandemic but it was understandable. At one point, the studio didn’t want to release the numbers, which led to rival companies to call out the lack of transparency. These difficult times are leaving their mark.

    Now, everyone was anxiously waiting for the second-weekend results. Tenet has no major tentpole rivals so it could hold steady, or even increase as more cinemas across the country open. This weekend saw the opening of 100 more cinemas. As such, Tenet managed to remain somewhat steady and only drop by 29%. It’s a good hold for the current situation with $6.7 million. Internationally, the film did reach the $200 million mark. China is currently the top-grossing country. If you’re wondering if this is somewhat of a success, keep in mind that Warner Bros. just postponed Wonder Woman 1984 to December. Their other October release Candyman was delayed into 2021 without a specific release date.

    In the grand scheme of things, cinemas won’t see a resurgence anytime soon. Warner Bros. and Sony have a strange obsession with only releasing in cinemas. It’s a noble gesture but we have no idea when “normalcy” will return, or even if. Numbers have been increasing once again in countries that saw a strong decrease. My own hometown has been hit hard lately with renewed restrictions. There is a good chance cinemas will have to temporarily close again. Tenet‘s performance is a reminder of rushing out a film in these times. It just continues to confirm that a potential digital or hybrid-model will become the new standard.

    Source: Variety, IndieWire

  • ‘Tenet’ Labor Day Weekend Opening Whelms at $20.2M

    ‘Tenet’ Labor Day Weekend Opening Whelms at $20.2M

    Two weeks ago, we found out how the international opening of Tenet may have reawakened cinemas. The film was aimed to renew life into cinemas even though we are still facing a worldwide pandemic. It was the hope that the film would offer some form of normalcy. Every studio had their eyes on the film’s Box Office to know if they can stick to their remaining 2020 releases. At the time, it did make a respectable $53 million in 40 markets excluding China. We have been waiting for some kind of sign of how the U.S. market may perform. The country is still hit the hardest by the pandemic, so it was a big question mark as cinemas tried to reopen.

    According to Forbes, the five-day Labor Day weekend saw the film debut with $20.2 million. This puts Christopher Nolan‘s new sci-fi epic at the lower end of expectations. Still, there is hope that it would increase at a slower pace. As such, all eyes are on how it held in its second week. This could potentially tease if this film will see a rise in Box Office numbers alongside the increase in opening cinemas. We could see a change in the classic frontloaded model. As Forbes points out, The New Mutants drop by 58% after its opening may indicate that the new normal isn’t quite what we expected.

    Internationally, Tenet opened to an underwhelming $30 million. Ironically, most of Nolan‘s films usually performed around $50 million in that market, so it may perform similarly to those films even with the current pandemic. Only Interstellar broke the $100 million mark when it released back in 2014. The film’s overall reception is also at a B CinemaScore, so it makes people to question if the danger of visiting a cinema is worth the risk. It may take some massive audience-pleaser to change people’s minds. Perhaps October releases Wonder Woman 1984 or Death on the Nile may persuade audiences. Still, it is up to the people to prioritize their own health if it is worth it. VOD and Disney’s Premium Access strategy might still be the best and safest option for most.

    Source: Forbes