“Tenet” Is Poised To Open To Over $20 Million This Weekend At The Domestic Box Office

We’re still nowhere near the point where a dedicated box office column on a Sunday makes sense. However, with Tenet now in U.S. theaters (where allowed), coming on the heels of The New Mutants opening in August, there’s at least some box office news worth discussing. All eyes, in terms of the movie business, are on Christopher Nolan’s latest release, hoping that audiences are flocking (safely) to cinemas to check it out. Did they? Should they? Well, those are two very different questions, but the answers to both are far from simple. Read on for more about the box office so far for Tenet…

According to Variety, Nolan’s film will make slightly over $20 million during the Labor Day weekend, though it’s approaching $150 million internationally. That seems to be about what Warner Bros. expected for the movie, given the lack of New York theaters and many California screens, due to the coronavirus pandemic. Of course, Tenet is the first blockbuster flick to come out in theaters since COVID-19 shut everything down in March, so while this isn’t anywhere near the numbers normally expected for something of its ilk, it’s at least somewhat of a sign that people are looking to see things on the big screen. Hopefully, it can be done safely, as indoor locations are still far from ideal…

Here’s a bit from their box office report:

After months of delays, Christopher Nolan’s sci-fi epic “Tenet” finally arrived in U.S. theaters and generated $20.2 million over Labor Day weekend. Ticket sales, though difficult to dissect given the uncharted waters of the coronavirus era, are roughly in line with expectations for a new release during a pandemic.

The espionage thriller is already nearing the $150 million mark globally, thanks to a stronger showing at the international box office. Overseas, “Tenet” earned another $78.3 million this weekend, bringing its worldwide haul to $146.2 million.

Warner Bros., in a note Sunday afternoon to press, said the studio was “very pleased” with initial results, stressing that the rollout of “Tenet” will be “a marathon not a sprint” — meaning it doesn’t need splashy inaugural weekend grosses to justify its release.

“There is literally no context in which to compare the results of a film opening during a pandemic with any other circumstance,” the studio said. “We are in unprecedented territory, so any comparisons to the pre-COVID world would be inequitable and baseless.”

The domestic debut for Nolan’s latest includes ticket sales from preview screenings that started on Monday in the U.S. and Canada. In pre-coronavirus times, “Tenet” would have seen much more substantial opening weekend figures. However, it’s launching in a vastly different environment since numerous theaters in the country are out of operation.

“With a significant number of key U.S. states and cities still closed, this is a fair opening,” said David A. Gross, a box office analyst at FranchiseRe. “Business in the U.S. is improving, but large numbers of moviegoers are not back yet. For now, this is as good as it gets.”

“Tenet” was able to play in about 2,800 cinemas across the country, a smaller footprint than normal for a wide release of this size. But Warner Bros., the studio behind the twisty thriller, is banking on it being enough to rationalize unspooling the mega-budgeted film after months of delays. Currently, about 65-70% of multiplexes in the U.S. have reopened, though influential markets like New York City, Los Angeles, Seattle and San Francisco are still off limits. That likely shaved millions of dollars off of “Tenet’s” grosses.

Drive-in theaters have been a boon for cities where indoor cinemas can’t reopen yet. However, Warner Bros. issued guidelines that restricted the areas where “Tenet” can play outdoors. They mandated that the film can only screen at drive-in theaters if indoor venues in that particular city are open. That means drive-ins in Los Angeles and San Fransisco, both of which have been doing robust ticket sales during the pandemic, didn’t have access to one of the buzziest titles of the year.

Stay tuned for more on Tenet and the box office!

(Source: Variety)

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