LOS ANGELES (AP) — Moviegoers were not exactly feeling the Christmas spirit this weekend, or at least not based on their attendance at “Red One” showings.
The big budget, star-driven action comedy with Dwayne Johnson and Chris Evans sold $34.1 million in tickets in its first weekend in theaters, according to studio estimates Sunday. It easily topped a box office populated mostly by holdovers.
For traditional studios, a $34.1 million debut against a $200 million-plus production budget would be a clear indication of a flop. Some even peg the budget closer to $250 million. But “Red One” is an Amazon MGM Studios release with the luxury of playing the long game rather than relying solely on global box office where Johnson tentpoles often overperform. The film may have a life on Prime Video for years to come.
“Red One,” in which Johnson plays Santa’s bodyguard, was originally built to go straight-to-streaming. It was greenlit prior to Amazon’s acquisition of MGM. One interpretation of its lifecycle is that the theatrical earnings are not only just a bonus, but an additive gesture toward struggling theaters looking for a consistent stream of new films.
“Amazon has 250 million plus worldwide subscribers to the platform. It’s similar to the way Netflix, I think, looks at stuff for their platform,” said Kevin Wilson, head of distribution for Amazon MGM Studios. “There’s a there’s a massive value for a movie like this in terms of how many eyeballs you’re going to get.”
The first major studio holiday release since 2018, “Red One” opened on 4,032 screens, including IMAX and other large formats, on an otherwise quiet weekend for major releases.
“We’re really happy with the results,” Wilson said. “I think when you look at the theatrical marketplace that’s sometimes unforgiving, especially for original films, this is a good result for us.”
Since 2020, only seven films that weren’t sequels or based on another piece of intellectual property have opened over $30 million (including “Oppenheimer” and “Nope.”)