“Avatar: The Way of Water” earned $53 million on its opening day Friday and is now projected to make between $130-$150 million through its opening weekend, Deadline reports.
Why it matters: This is slightly below expectations for the long-awaited sequel from director James Cameron, who previously suggested the film needs to make billions in order to break even.
Details: “Avatar: The Way of Water” opened across 4,202 theaters this weekend, including previews on Thursday night.
- In addition to $53 million domestically, the film earned $15.8 million for its first-day sales across 15 different markets, per Deadline.
- The opening night domestic returns rank sixth highest for first-day domestic grossing 2022, Variety reports.
Context: The original “Avatar” — released in 2009 — earned $26.7 million on its opening night before earning $77 million through its opening weekend.
The big picture: All signs point toward “The Way of Water” clocking in slightly below estimates, which said the film would earn between $150-$170 million over its opening weekend.
- Several Marvel and Hollywood blockbusters in 2022 earned more on their opening night compared to “The Way of Water,” including “Doctor Strange in the Multiverse of Madness” ($90.7 million) “Black Panther: Wakanda Forever” ($84.2 million) and “The Batman” ($56.6 million).
- Last year, “Spider-Man: No Way Home” earned $121.5 million on its opening night in December 2021, which was the second-highest-grossing opening day ever. The film ended up earning $260.1 million from its entire opening weekend.
What we’re watching: Cameron told GQ that the “Avatar” sequel was so expensive that the movie would need “to be the third or fourth highest-grossing film in history” to break even.
- The fourth highest-grossing movie in history is “Star Wars: The Force Awakens,” which earned $2.1 billion at the box office, Axios’ Troy Smith reports.
- Cameron said that the future of his franchise will depend on how “The Way of Water” performs.
Yes, but: People are at least enjoying the film. “The Way of Water” currently has a Rotten Tomatoes score of 78% from critics and a 94% from audiences.
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