“Barbenheimer” defied expectations and delivered blockbuster success at the box office. The unique blend of Greta Gerwig’s “Barbie” and Christopher Nolan’s “Oppenheimer” ignited a resurgence in theater attendance, surpassing projections and injecting hope into the struggling exhibition industry. Warner Bros.’ “Barbie” dominated with a staggering $155 million in ticket sales from North American theaters, claiming the title of the biggest opening of the year and setting a first-weekend record for a female-directed film. Meanwhile, Universal’s “Oppenheimer” exceeded expectations, earning $80.5 million and marking Nolan’s biggest non-Batman debut and one of the best starts for an R-rated biographical drama.
This weekend marked a historical milestone as both movies opened to more than $100 million and $80 million, respectively, in the same timeframe. With a projected industrywide total exceeding $300 million, it will likely rank as the fourth biggest box office weekend of all time. This accomplishment is noteworthy in an era where intellectual property-driven projects dominate the film landscape.
Initially perceived as aesthetic rivals, the “Barbenheimer” phenomenon proved beneficial for both movies. Internationally, “Barbie” generated $182 million from 69 territories, contributing to a global weekend total of $337 million. “Oppenheimer” also achieved a strong showing globally with $93.7 million from 78 territories, surpassing “Barbie” in India and reaching a total of $174.2 million.
Unfortunately, “Mission: Impossible: Dead Reckoning Part I” suffered a setback, experiencing a 64% decline in ticket sales during its second weekend. Overshadowed by the success of “Barbenheimer” and losing IMAX screens to “Oppenheimer,” the Tom Cruise-led film accumulated $19.5 million, bringing its domestic earnings to $118.8 million.
It is important to note that “Barbenheimer” was not just counterprogramming; although there was some overlap in audience demographics, each movie attracted distinct viewership. “Barbie” appealed primarily to women, accounting for 65% of the audience, while 40% of ticket buyers were under the age of 25. On the other hand, “Oppenheimer” attracted a predominantly male audience (62%) over the age of 25, with a surprising 32% falling in the 18-24 age bracket.
Critically acclaimed, both “Barbie” and “Oppenheimer” received high ratings on Rotten Tomatoes, achieving 90% and 94% respectively. Audiences also responded positively, giving both films an A CinemaScore. Social media buzzed with reactions and debates surrounding the movies, creating an organic, event-driven discussion that no marketing budget could replicate.
IMAX screenings played a significant role in the success of “Oppenheimer,” with 80% of premium large format screens featuring the film. IMAX 70mm screenings, particularly in North America, were sold out, accounting for 2% of the total gross. Due to overwhelming demand, theaters added late-night and early-morning showings, all of which sold out. IMAX alone contributed 26% of the domestic gross and 20% of the global gross. As a result, “Oppenheimer” will continue its successful run on these high-demand screens for at least three weeks.
This weekend marked a much-needed comeback for Hollywood since the pandemic began. While there have been individual successes, the simultaneous triumph of two films is remarkable. Michael O’Leary, President & CEO of the National Association of Theatre Owners, described it as a historic weekend that continues the positive box office momentum of 2023.
However, amidst this positive narrative, the ongoing dispute between Hollywood studios and striking actors and writers looms in the background. “Barbie” and “Oppenheimer” were the final films on the 2023 release calendar to undergo extensive global press tours. These tours were meticulously planned, ensuring that the movie stars maximized exposure and engagement before joining picket lines in solidarity with striking workers.
Without the star power to promote their films, studios have postponed certain fall releases, including the highly anticipated Zendaya-led tennis drama “Challengers.” Regardless, the current success story could persist for weeks to come, bringing a much-needed boost to the industry and generating a sense of excitement and anticipation among moviegoers.
In conclusion, this weekend defied expectations and showcased the power of cinema. “Barbenheimer” proved to be a historic event, attracting audiences from various demographics and garnering critical acclaim. The box office success of “Barbie” and “Oppenheimer” injected new life into the exhibition industry, signaling a positive future amidst the challenges faced by Hollywood.
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