Oppenheimer highlights the overwhelming box office success of Christopher Nolan

The films of Christopher Nolan, including “The Dark Knight” and “Inception,” have enjoyed significant success at the box office for the past two decades.

However, “Oppenheimer,” Nolan’s R-rated historical drama about the man behind the atomic bomb, has exceeded all expectations.

Since its release on July 21, the visually stunning three-hour epic, filled with intricate dialogue, has earned around $300 million domestically, making it the fifth highest-grossing film of the year. Globally, it has surpassed $777 million, landing in fourth place since its debut. The film continues to draw in audiences.

In the weeks following its release, “Oppenheimer” has experienced a smaller drop in domestic ticket sales compared to most films. Typically, box office receipts decrease by 50% to 70%, but “Oppenheimer” has only seen a 23% decline in its most recent weekend.

Remarkably, “Oppenheimer” has never held the top spot at the domestic box office. Warner Bros.’ record-breaking film “Barbie,” which premiered the same weekend as “Oppenheimer,” has snagged the number one position for five out of the last six weeks. “Barbie” is currently the highest-grossing domestic release of the year and is poised to surpass Universal’s “Super Mario Bros. Movie” as the top-grossing global film of 2023.

Universal is capitalizing on the enduring popularity of “Oppenheimer” in theaters and has opted not to make the movie available for streaming until February, aligning with the customary Oscar campaign season. The film itself, as well as Nolan, and stars Cillian Murphy and Robert Downey Jr., are being touted as early favorites for next year’s Academy Awards.

Additionally, “Oppenheimer” faced limited competition at the box office due to labor strikes in Hollywood, which forced several films to reschedule their release dates or be indefinitely postponed.

Last week, Warner Bros. and Legendary Entertainment pushed back the release of “Dune: Part Two” from early November to the following year. This highly anticipated sci-fi film was expected to dominate premium format screens, but now “Oppenheimer” can maintain a significant presence on those screens for weeks to come.

At a time when major superhero movies and franchise sequels have underperformed, “Oppenheimer” has thrived with its original storytelling. Warner Bros.’ unconventional and metafictional film “Barbie,” as well as Angel Studio’s “Sound of Freedom” catering to conservative audiences, have dominated the box office.

Nolan’s success with Batman movies has granted him the trust from studios to create ambitious and intricate films on a grand scale, such as “Dunkirk” and “Interstellar.”

With $300 million in domestic earnings, “Oppenheimer” stands as Nolan’s third highest-grossing film, trailing behind 2008’s “The Dark Knight” and 2012’s “The Dark Knight Rises.” Globally, it ranks fourth, just shy of the $825 million achieved by “Inception” in 2010. Both “The Dark Knight” and “The Dark Knight Rises” surpassed $1 billion at the global box office.

“I believe it all starts with the filmmaker,” stated Jim Orr, president of domestic theatrical distribution for Universal Pictures. “We are incredibly honored to collaborate with Christopher Nolan. He has masterfully crafted a compelling narrative about one of the most impactful events in human history.”

Nolan’s films have become events in and of themselves. In several of his works, including “Oppenheimer,” he has chosen practical effects over computer-generated images. His movies are also known for their powerful soundscapes.

This is why 37% of “Oppenheimer” ticket sales can be attributed to premium format screens such as IMAX and Dolby, according to data from EntTelligence. Typically, these higher-priced screens account for less than 15% of a film’s ticket sales.

Notably, the average price for a premium ticket to see “Oppenheimer” is $16.90, while standard tickets have an average price of $11.68.

Shawn Robbins, chief analyst at BoxOffice.com, commented, “IMAX has played a significant role in attracting audiences who seek out the biggest and best theaters, resulting in sellouts even during the film’s sixth weekend of release. Its box office performance in this format ranks among the best of all time, rivaling mega-franchise sequels like Avengers, Star Wars, and Avatar.”

Nolan’s 70mm version of “Oppenheimer,” which has been a major draw for audiences seeking the immersive IMAX experience, has shattered records at the prestigious TCL Chinese Theatre, a Hollywood icon with a 97-year history. Within just three weeks, “Oppenheimer” became the highest-grossing film in the theater’s history, surpassing the record set by “Star Wars: The Force Awakens” in 15 weeks. Due to the high demand, the cinema even added 6 a.m. showings of “Oppenheimer.”

The film has benefited from positive word of mouth, attracting viewers from diverse demographics who may not have been initially inclined to see it.

“The success of ‘Oppenheimer’ is the result of a unique combination of factors,” explained Paul Dergarabedian, senior media analyst at Comscore. “It combines the reputation of one of the most respected directors in the industry, an exceptionally executed marketing campaign, a strategically chosen release date, and an immersive theatrical experience that has elevated the film to event status.”

Disclosure: Comcast is the parent company of NBCUniversal and CNBC. NBCUniversal distributed “Oppenheimer.”