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Avatar: The Way of Water didn’t make quite as big of a splash as many assumed it would, but James Cameron’s big budget spectacle still helped breathe life into the box office this weekend. The sequel earned $134 million from North American theaters and $300.5 million internationally for a $434.5 million (Rs 3,598 crore approx) global debut, according to studio estimates on Sunday.
The film is doing quite well in India where it earned Rs 160 crore within three days of release. Its makers announced that Avatar The Way of Water has earned Rs 160 crore in gross earnings within the first weekend in India. The third day of the weekend was expected to see a lower turnout given the FIFA World Cup final on Sunday but the film managed to hold its own.
Avatar makers shared, “December mei Diwali. You heard that right. Celebrations at the box office as James Cameron’s Avatar The Way of the Water has a mammoth opening weekend worldwide collections of Ts 3,500 cr! In India, the movie collected Rs 160 cr GBOC in 3 days.”
Avatar has become the first film to register such a staggering opening day figure in the post-pandemic times, outshining the rest of the Bollywood films that released this year and beating the record of Hollywood releases too. Even Bollywood hits such as Drishyam 2 and Bhool Bhulaiyaa 2 failed to get such numbers at the box office.
In the US, it tied with The Batman as the fourth highest domestic debut of the year, behind Doctor Strange in the Multiverse of Madness ( $187.4 million in May ), Black Panther: Wakanda Forever, ($181 million in November) and Thor: Love and Thunder ($144.2 million in July).
Expectations were enormous for Avatar 2, which carried a reported price tag of over $350 million, the pressure of following up the highest grossing film of all time (thanks in part to various re-releases) over a decade later and the daunting task of propping up an exhibition business that’s still far from normal. Everything Avatar is oversized, though: the Na’vi characters, the runtime (a staggering three hours and 12 minutes), the technical advancements and the release strategy from 20th Century Studios and The Walt Disney Co.
Going into the weekend many were expecting a domestic debut of at least $150 million. Some even said $175 or higher, but tracking has also not been as reliable a metric during the pandemic.
Disney saw early that The Way of Water was going to be a different kind of beast when they looked at pre-sales. For a normal, spoiler-heavy movie like many Marvel offerings, post-opening weekend sales are usually around 5%. For The Way of Water, they were at 20%. In other words, the company knew that tracking was overinflated.
“We’ve got a terrific movie that is playing across all demographics and (has) terrific word of mouth,” said Tony Chambers, the Walt Disney Co.’s executive vice president for theatrical distribution. “We’ve got the screens and we’ve got a clear run. This isn’t about the opening day or the opening weekend. This is about the entire run.”
The film began its international rollout on Wednesday and debuted in North America on Thursday evening. Domestically, Avatar: The Way of Water was released in 4,202 theaters on over 12,000 screens, 400 of which were IMAX 3D. The studio and filmmakers bet big on the draw, and higher prices, of the 3D format and premium large screens.
By the end of Friday, Avatar: The Way of Water had already earned $53 million in the US and Canada and $180.1 million globally, aided by a China release — the first major Hollywood release in the country since Minions: The Rise of Gru in August. It blows Avatar’s $26.7 million first day in 2009 out of the water, though that didn’t include Thursday previews.
An estimated 66% of the $435 million opening weekend revenue came from worldwide 3D ticket sales.
Travis Reid, CEO at 3D company RealD, set a “new benchmark for the current 3D marketplace.”
Over $48.8 million of the global total came from IMAX screens alone (1,543 in 80 markets), the company’s second biggest weekend.
“As excited as we are about these early results, we anticipate a long and successful run for Avatar: The Way of Water,” said Rich Gelfond, CEO of IMAX, in a statement.
As with many ambitious Cameron projects, from Titanic to the first Avatar, nerves were high for the costly sequel, one of the most expensive of all time, which began production five years ago. It faced repeated delays and weathered The Walt Disney Co’s acquisition of 21st Century Fox in 2019. It’s also one of four Avatar sequels Cameron had in mind. Filming on the third movie, which shot simultaneously with The Way of Water, is done, with an expected release in December 2024.
In the 13 years since the first film, Avatar has also been the butt of jokes for the perception that the biggest movie of all time, one that has made nearly $3 billion, has left a relatively minor footprint in the culture. But even so, critics have largely been on board with The Way of Water, not just for the visuals but also for improving on the story of the first. It holds a 78% positive rating from critics on Rotten Tomatoes.
The question of whether Avatar 2 will earn enough is a complicated one with varied answers. Is it enough for exhibitors, who’ve had several significant hits this year, including Top Gun: Maverick, Black Panther 2 and Doctor Strange 2, but are still hurting? Is it enough to justify starting production on fourth and fifth movies? Is it enough for the business as a whole, which is looking at a domestic year-end total in the $8 billion range, as opposed to a pre-pandemic normal of $11 billion?
But like the critics shouting “never doubt James Cameron,” the studio and analysts are singing a similar tune.
Avatar: The Way of Water has the benefit of a holiday corridor that is, relatively speaking, lacking in major blockbuster-style movies. Next week sees the debut of Damien Chazelle’s Babylon and the family-friendly Puss in Boots: The Last Wish but there are no comparable blockbusters until Ant-Man and the Wasp: Quantumania in February. The hope is that audiences will continue seeking Avatar 2 out for weeks and months to come, similar to the first movie.
“Historically James Cameron’s movies are about the long haul, not the opening weekend,” said Paul Dergarabedian, the senior media analyst for Comscore. “Avatar is going to develop its box office over time. It’s about where it will end up months from now.”
Estimated ticket sales for Friday through Sunday at US and Canadian theaters, according to Comscore, with Wednesday through Sunday in parentheses. Final domestic figures will be released Monday.
1. Avatar: The Way of Water, $134 million.
2. Black Panther: Wakanda Forever, $5.4 million.
3. Violent Night, $5 million.
4. Strange World, $2.2 million.
5. The Menu, $1.7 million.
6. Devotion, $825,000.
7. The Fabelmans, $750,000.
8. Black Adam, $500,000.
9. I Heard the Bells, $308,893.
10. Empire of Light, $235,000.
Click for more updates and latest Hollywood News along with Bollywood and Entertainment updates. Also get latest news and top headlines from India and around the World at The Indian Express.
