PARAA - An original movie opening with $50M at the box office these days? 'Nope.'
Those moviegoers who have sequel-and-franchise fatigue from current films have something new to look forward to this weekend at the box office.
Nope ( NASDAQ: CMCSA ), the third major film from director Jordan Peele, is likely to become the top-drawing original film since the onset of the COVID-19 pandemic.
It's taking on the two-week Marvel winner in Thor: Love and Thunder ( NYSE: DIS ), as well as another week of Minions: The Rise of Gru ( CMCSA ) - but with an R rating and horror/sci-fi bent, it will be pursuing a different type of audience.
Peele, formerly a sketch comedian, made an instant splash as a Hollywood director with his 2017 scarefest Get Out, as well as follow-up Us, which grossed $176M and $175M respectively domestically.
And while the heavy blockbuster release schedule is cooling off from here until the end of the summer, Peele's Get Out opened to more than $33M, and Us to more than $71M, building hopes for a few more strong weekends ahead with Nope in the fold.
Nope drew a healthy $6.4M in Thursday previews; by comparison, Us hit $7.4M with its preview. So most observers are tabbing Nope for an opening in a range around $50M, depending on how viewers respond to the secretive plot. And while it has a bigger budget, whether it lands in the same narrow $175M total gross range of Peele's previous films remains to be seen.
Last weekend's domestic chart was topped by Thor: Love and Thunder with $46.6M in its second weekend; Minions: The Rise of Gru with $26.8M in its third weekend, and an opening of $17.3M for Where the Crawdads Sing ( NYSE: SONY ). Hanging in at fourth, though, was Top Gun: Maverick ( NASDAQ: PARA ) ( PARAA ), drawing a healthy $12.3M in its eighth week of release.
At $625.6M cumulative, Top Gun: Maverick is No. 9 on the all-time domestic gross list, with 2015's Jurassic World and 1997's Titanic ahead of it at $653.4M and $659.4M respectively.
As always, counting all the cash registers are movie exhibitors: AMC Entertainment ( AMC ); Cineworld ( OTCPK:CNNWF ); Cinemark ( CNK ); ( IMAX ); Marcus ( MCS ); Reading International ( RDI ); Cineplex ( OTCPK:CPXGF ); National CineMedia ( NCMI ).
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An original movie opening with $50M at the box office these days? 'Nope.'