Amazon's Strategic Bet: Analyzing 'Red One's' Box Office vs. Streaming Performance
ICARO Media Group
### "Red One" Initial Box Office Performance: Amazon's Strategy Hinges on Streaming Success
The high-budget film "Red One," featuring stars Chris Evans, Dwayne Johnson, and Lucy Liu, had an opening weekend gross of $34 million in North America. Despite the seemingly modest box office figures, the real measure of success for this $250 million production lies in its performance on Amazon Prime Video.
The action-comedy, which centers on a North Pole security chief teaming up with a hacker to rescue Santa Claus, has accumulated $84 million globally since its international premiere on November 6. This includes $50 million from overseas markets. For a film that boasts talent associated with major franchises, these numbers might appear underwhelming, especially with upcoming competition from "Wicked," "Gladiator 2," and "Moana 2."
However, industry experts suggest that Amazon MGM may still come out on top. "Red One" has already outperformed other non-IP films in its opening weekend, such as "If," "Civil War," and "Bob Marley: One Love." Analysts projected the $34 million take, which aligns with the performance of other Dwayne Johnson films like "Jungle Cruise," "Rampage," "Central Intelligence," and "Jumanji: Welcome to the Jungle."
The film's strategy appears to have been to generate buzz through its theatrical release, setting the stage for its debut on Amazon Prime Video. With an A- CinemaScore and a 90% audience score on Rotten Tomatoes, the film has garnered positive word-of-mouth, which could help attract more Prime Video subscribers and ad views, ultimately covering Amazon MGM's significant investment.
Despite Amazon's strategy, there are concerns about the film's perceived underperformance. Given reports labeling the theatrical run as a flop, there is apprehension about the potential impact on the brand perception of Prime Video, and whether future projects will receive similar budgets.
The upcoming holiday season could still swing momentum in favor of "Red One." Media experts believe that a festive buzz might drive higher viewership on streaming platforms. The challenge ahead is whether cinemas will continue to show "Red One," especially if audiences choose to wait for its expected arrival on Amazon Prime Video, while the competition heats up with the release of other holiday blockbusters.