Over the 5-day period of Thanksgiving, Netflix’s week-long preview of Glass onion: a mystery at loggerheads buried all new and old major studio adult counter programming with an estimate $13.3M over 5 days for what should be a $15 million first week before Tuesday.
Hands down, this is the best theatrical launch ever for a Netflix pre-release movie. Last yearit is Dwayne Johnson-Ryan Reynolds-Gal Gadot Action Title red notice is arguably their best, with a 3-day opening of $1.25-1.5 million. This photo is also the most watched in the world with more than 364 million hours. Glass OnionThe $9.3 million 3 Days is the 10th best for a title opening in less than 900 theaters, just above films such as TriStar’s The doors in 1991 ($9.1 million in 840 theaters) and Universal’s November 12-14, 2004 launch of Bridget Jones: The limit of reason, which posted $8.68 million in 530 theaters.
This Thanksgiving, no one in droves wanted to see a movie about a Korean Navy fighter pilot (Dedication at $9M 3 days) a love story between cannibals (bones and all at $3.5 million) or Steven Spielberg’s autobiopic (The Fabelmans to $3.1 million). For executives wondering, ‘My God, what kind of adult fare works in a tough market?’, definitely not that dark stuff. It’s the sequel to a beloved comedy thriller with a glitzy cast that includes Daniel Craig, Janelle Monae, Dave Bautista, Edward Norton, Kate Hudson, and more. It’s obvious that Knives Out 2 Would Kill Thanksgiving in Its Limited Release: The 2019 Thanksgiving Throwback premiere was a crowd pleaser, placing second with $41.4 million in 5 days, and surpassing $165.3 million in the United States.
Disney Animation’s $135 Million Production Failure strange world with a paltry $28 million global startup and the silver lining of Netflix’s experience with Knives Out 2 (playing the top three circuits – AMC, Regal and Cinemark – a first for the streamer) over the holidays has raised questions about what is ripe for streaming and what is suitable for cinema.
The answer is that both are ripe for theater, and Netflix is leaving huge sums on the table in props and the biggest window ever with their week-long play of the Rian Johnson-produced, Ram Bergman-produced sequel. , which they picked up in a two-pack spike for $400 million+ as Deadline first reported.
While Wall Street adores streamer studios to show them the money, especially the profit and not the subs, how can a conglom even rationalize or cushion those tent costs? Already, majors like Warner Bros. and Disney are changing their tune when it comes to the types of live titles they send to the service; the former’s CEO, David Zaslav, publicly opposes such costly business practices. Netflix could have gone far and more exhibitors could have shared the riches of Glass onion.
Disney squeezes all it can out of the failure that is strange world. Both films will arrive on their respective studio streaming services this Christmas. However, Glass Onion will go dark, out of theaters, until December 23, when it debuts on Netflix.
How did you Glass Onion come to be with the three best circuits on board? I’ve heard that Netflix has great terms, one channel told me they’re only charged in the 40% rental range (compared to 60%-70% for a major studio), the streamer paying 4 times more money for exhibitor marketing. for the rest than an ordinary studio does on an average title. A done deal. Cinemark was the only major 3 channel that had already shown Netflix movies, as of the 2020 pandemic, and was about to change that booking plan until Knives Out 2 came, I understand. It’s the first time Netflix has put a bit of umpf into the marketing launch of a theatrical title, the streamer known for splashing millions on an awards contender’s long play throughout Oscar season.
While TV ad spend analytics firm iSpot showed Netflix was spending less than the majors to open Glass Onion with $4.3 million in TV spots for $16 million from Disney on strange world, $14.8 million from Sony on Dedication, $10.8 million from Searchlight on The menu and Uni’s $8.5 million on The Fabelmans; the streamer has carefully curated its spots into a holistic campaign (which will run until its streaming date) with ads on NFL Sundays, Yellowstone, SNL and The Walking Dead final. At a local AMC north of LA in Porter Ranch, there were hardly any travelers standing in the lobby during the opening weekend of Black Panther: Wakanda Forever for other titles — with the exception of Glass onion.
Some small exhibitors could not get At loggerheads 2, with the streamer reserving the best of the best cinemas. The best theatres, I am told, for Glass Onion were AMC Lincoln Square NYC, Cineplex Odeon Varsity in Toronto, AMC Burbank, AMC Century City, AMC Boston Common, Alamo Drafthouse Brooklyn, AMC Grove LA, AMC Disney Springs 24 in Buena Vista, Florida, AMC Empire 25 NYC and AMC Dine- In thoroughbred in Franklin, TN.
No PostTrak output on Knives Out 2 because it’s less than 800 strokes. However, on Rotten Tomatoes, moviegoers embraced the sequel at 93%. The first film received an A-. Rival distributors remain furious this morning that Netflix hasn’t publicly reported or shared their earnings. Netflix did not provide comment for this article.
After a great platform launch here as glass onion, normally, a major studio would increase its theatrical footprint and expand. However, Netflix said it would firmly pull Knives Out 2 after Tuesday before the photo went to the service. Theaters are being urged to rebook the title after it hits Netflix in December.
But again, we are in a post-pandemic world turned upside down. So don’t be surprised if something changes.
Will Netflix change its tune and embrace theater for its tall tentpoles?
We will see. But Glass Onion was a good start for everyone.
