The Disney and 20th Century film “Avatar: The Way of Water” is the fifth-highest-grossing film of the year with $855 million in global ticket sales after 10 days in theatres. The long-awaited sequel by James Cameron has grossed $253.7 million domestically and $600 million internationally. Even with severe winter weather in North America and rising cases of COVID, RSV, and influenza across the globe, it is anticipated that the “Avatar” sequel will generate strong grosses in the coming days. The $350 million-budgeted tentpole aims to reach $1 billion by the end of the year. In 2022, only “Top Gun: Maverick” and “Jurassic World: Dominion” have been able to surpass this benchmark. [Source: www.collider.com]
The highest grossing country outside of North America for “Avatar 2” has been China, with $100.5 million, followed by Korea ($53 million), France ($52.3 million), India ($37 million), and Germany ($35.7 million). There are a number of reasons why the sequel will find it difficult to match the success of the first movie, which brought in $2.97 billion worldwide, making it the highest-grossing release in history. For starters, the global box office hasn’t fully recovered from the pandemic, and significant markets like China are seeing the virus reemerge. Additionally, the sequel won’t be seen in Russia, where the first movie made $116 million.
Imax has made a significant contribution to global ticket sales, with $97 million coming from the company’s premium screens. As with the first film, more expensive Imax and 3D tickets are expected to boost overall revenue for “Avatar 2”.
Rich Gelfond, CEO of Imax, stated, “‘Avatar: The Way of Water’ is demonstrating the global box office endurance we anticipated, particularly with its phenomenal performance internationally, where several key markets increased their opening weekend gross receipts”. “Our screens remain the preferred venue for viewing this one-of-a-kind film”. [Source: www.variety.com]
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