🍿 2022-11-28 ​​19:15:43 – Paris/France.
(Bloomberg Opinion) - Glass Onion: A Knives Out Mystery, Netflix Inc.'s first movie to hit major theater chains ahead of being available in Streaming, grossed $13,3 million in five days at a closely watched limited screening.
The total is expected to reach $15 million in the United States and Canada by the end of the seven-day run this week, according to a person familiar with the matter. The film screened in nearly 700 theaters, grossing around $19 per screen, the best average for any movie over the weekend, the source said.
The film, a sequel to the 2019 hit Knives Out, screened at theaters owned by AMC Entertainment Holdings Inc., Regal Entertainment Corp. and Cinemark Holdings Inc., the largest U.S. channels. The companies have been reluctant to work with Netflix because the provider of Streaming prefers to release its films simultaneously or shortly after their theatrical release. Once Glass Onion has finished airing in theaters, it won't be available until December 23, when it will appear on Netflix.
Analyst Eric Handler of MKM Partners, which tracks cinemas, said Netflix "missed an opportunity to make a lot more money" by limiting the film's screening to one week. He called the company's marketing "insufficient".
Still, he predicted that Netflix will release a few movies a year in theaters, but said "marketing support will be minimal."
AMC CEO Adam Aron tweeted on Sunday that he was encouraged by the results, saying they would lead to "more Netflix in the future." Boxoffice Pro predicted that Glass Onion would rake in up to $15 million over the five-day weekend beginning November 23.
The result was good enough for third place on a slow weekend for North American theaters. Walt Disney Co.'s Black Panther: Wakanda Forever topped the five-day gross of $64 million, while the Weirdworld company's animated film grossed $18,6 million, according to Comscore Inc. .
During the Oct. 18 earnings call, Netflix co-CEO Ted Sarandos downplayed Knives Out's theatrical release, calling it "another way to build buzz for the movie and build buzz." before his debut in the service room of Streaming.
Bloomberg Intelligence analyst Geetha Ranganathan says Amazon.com Inc.'s plan to spend more than $XNUMX billion a year on films for theatrical release could spur companies like Netflix and Apple Inc. to make likewise.
At the same time, it is unclear whether the industry will ever return to pre-pandemic sales levels, given the surge in Streaming and a 40% reduction in movie theaters, he said.
Original note: 'Knives Out' was a 'missed opportunity' for Netflix, analyst says
More stories like this are available at bloomberg.com
©2022 Bloomberg LP
SOURCE: Reviews News
Do not hesitate to share our article on social networks to give us a solid boost. đź‘“