Is Red One a Box-Office Success?

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  • ‘Red One’ Had a Chilly Box-Office Debut
  • Dwayne Johnson’s Movies Have Gotten Way Too Expensive

As a seasoned movie enthusiast who has witnessed the evolution of Hollywood from VHS tapes to streaming platforms, I must say that the release of “Red One” is a fascinating development in the industry. Coming from someone who still remembers the excitement of waiting for a film’s theatrical release, it’s intriguing to see a movie like this, initially designed for streaming, also hitting the big screen.

The Christmas-themed action comedy movie titled “Red One,” featuring Dwayne Johnson as Callum Drift, a specialist in North Pole security, was initially planned to be globally released by Amazon MGM Studios via their Prime Video streaming service. However, Amazon later opted to make “Red One” their third significant theatrical release of 2024, with its predecessors being “The Beekeeper” and “Challengers.

As a passionate cinephile, I’m thrilled to share that my favorite new movie, “Red One,” dominated the domestic box office in its debut weekend, raking in around $32.1 million. Typically, an opening of this size for an original IP Christmas release would be commendable. However, when you consider the film’s massive production budget of $250 million, the initial earnings fell disappointingly short.

Folie à Deux, distributed by Warner Bros., opened domestically at $37.6 million against a production cost of $200 million, it’s often labeled as a massive failure. However, why isn’t Apple’s 2023 epic “Killers of the Flower Moon,” which also carries a high budget, facing the same criticism?

The opening earnings of $32.1 million for “Red One” might have sparked concern in a typical Hollywood studio, but for Amazon, the film’s box-office performance is more like a delightful cherry on top. With its almost unmatched capacity to handle losses up to around $250 million as if it were a minor accounting mistake, Amazon can afford to be patient and hope that “Red One” will one day become an enduring Christmas favorite.

‘Red One’ Had a Chilly Box-Office Debut

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To cover its $350 million expenditure on marketing and production, Red One must earn between $700 million and $800 million globally at the box office to reach a break-even point. Given its current performance, it seems highly unlikely that Red One will exceed the $400 million mark worldwide, considering the strong competition from upcoming blockbusters like Gladiator II and Wicked.

A silver lining lies in the fact that even though Red One currently boasts a dismal 32% Rotten Tomatoes rating from critics, this is balanced out by an impressive 90% audience score on the same platform. Additionally, the film could potentially see a significant boost at the holiday box office due to the ongoing popularity of Dwayne Johnson, who also stars in Moana 2. Notably, following Red One, Moana 2 is expected to be Johnson’s second consecutive film to claim the top spot at the domestic box office.

Despite Red One initially appearing destined for a flop in its cinematic run, its greatest opportunity for financial success lies in becoming a cherished holiday classic that continues to captivate audiences for generations. However, it’s clear that the movie’s PG-13 action-oriented style has likely restricted its box-office potential. It will be intriguing to observe whether this approach helps or hinders Red One‘s longevity, as its lasting impact will depend on how far its appeal extends beyond streaming platforms like Prime Video.

Dwayne Johnson’s Movies Have Gotten Way Too Expensive

Dwayne Johnson has had four major films with budgets over $200 million, including Red One, Black Adam, Jungle Cruise, and the action comedy film Red Notice on Netflix. However, while Red Notice became one of Netflix’s most-watched titles, there hasn’t been a confirmation about a sequel yet, even though many sequel announcements have been made in the past two years. Previously, Black Adam and Jungle Cruise didn’t perform well at the box office.

The production of “Red One” by Amazon MGM Studios rather than a typical Hollywood studio shows how Dwayne Johnson’s reported $50 million fee for the movie has made him too expensive for conventional studios, given that he, as both star and co-producer, hasn’t had a significant box office success since “Jumanji: The Next Level” in 2019. The underperformance of this film at the box office has led to renewed discussions about Johnson’s ability to draw crowds, particularly within the expensive $200 million film production model, which seems excessively high for a Christmas movie like “Red One”, estimated to cost around $100 million.

It appears that as long as Johnson does not reduce his film budgets significantly and fails to achieve substantial theatrical profits, he may likely continue working within the streaming industry. This could be due mainly to Amazon and Netflix being the only financially robust companies willing to consistently collaborate with him, given their daring nature.

Amazon Doesn’t Need ‘Red One’ to Be a Box-Office Success

The original intention of Red One was for streaming, meaning any income from box-office sales is an unexpected bonus for Amazon, primarily due to their marketing efforts promoting the movie’s streaming debut. Since a successful theatrical release often boosts a film’s streaming success, if Red One manages to recover its $100 million marketing budget through box office earnings, this would be considered a triumph for Amazon. This is because they could then launch the film on Prime Video with an already-funded massive promotional campaign. In this context, the movie’s 90% audience approval rating on Rotten Tomatoes becomes a more significant indicator than its current box office figures.

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2024-11-25 03:33