James Cameron’s “Avatar: The Way of Water” fell short of box office expectations, but international ticket sales raised hopes that the long-awaited sequel could still deliver a substantial worldwide hit.
The film took in $134 million at the domestic box office on its opening weekend, short of the $175 million industry analysts had predicted, and just short of the $135 million to $150 million that disney had predicted.
The movie is connected with Warner Bros.” “The Batman,” which also grossed $134 million during its domestic opening in March, as the fifth-highest opening of the year, according to data from Comscore.
Internationally, “Way of Water” grossed $300.5 million, bringing the film’s opening weekend to $434.5 million.
“Because most people love the movie, the sugar content of that enthusiasm inspired some opening weekend predictions that don’t support the historical data and several headwinds for the movie,” said Paul Dergarabedian, senior media analyst at Comscore. “That said, ‘The Way Of Water’ has many factors working in its favor that ensure its long-term prospects for huge global success.”
China, in particular, accounted for $57.1 million in ticket sales for its three-day opening weekend.
The Chinese box office contributed about $265 million to “Avatar’s” global tally a decade ago, but the market has grown significantly since then. Prior to the pandemic, China was the world’s second-highest-grossing theater market. Since the reopening of cinemas in the country, it has been one of the fastest markets to recover and generate box office success.
In 2009, China’s total box office was $910 million. A decade later, it reached $8 billion.
Box office analysts are unconcerned about the film’s smaller-than-expected domestic box office, mainly because of how it has performed internationally. The original “Avatar”, which was released in 2009, only made $77 million in its opening weekend, but became the highest-grossing film of all time. It maintains that title thanks to several re-releases.
The first film had incredible staying power at the box office, running in theaters through August 2010, a whopping 234 days. “Avatar” eventually grossed $760 million in the US and Canada and more than $2 billion in international markets during its initial theatrical run.
“While the film opens at the low end of expectations, it’s important to reiterate its long-term outlook,” said Shawn Robbins, chief media analyst at BoxOffice.com. “The public is showing a strong preference to see the film in premium formats, considering the volatility noted in pre-release forecasts.”
Robbins noted that the upcoming holiday season corridor and a lack of competition in the marketplace position “The Way of Water” for a more box-office underdeveloped than a typical blockbuster.
Premium formats, including IMAX, Dolby Cinema and Motion auditoriums accounted for 62% of all tickets sold. A whopping 57% of that total was for 3D tickets. Premium format tickets are more expensive than traditional tickets.
“The Way of Water” 3D tickets cost an average of $16.55 each, while 2D costs $12.62 each, according to EntTelligence data.
“It’s premature to qualify the film’s degree of success at this stage, especially with Cameron’s history of long runs at the global box office,” Robbins added.
