Dwayne Johnson’s latest holiday movie “Red One” topped the weekend box office. Still, questions remain over its hefty $250 million production budget. The film, starring Johnson as Santa’s chief of security and Chris Evans as a bounty hunter, debuted in 4,032 cinemas to mixed reviews.
Despite tepid critical reviews (the film now has a 33% rating on Rotten Tomatoes), audiences responded positively, awarding it a promising A- CinemaScore. The film has already grossed $50 million abroad, increasing its total to $84.1 million.
Amazon MGM has confidence in its theatrical plan. “Whether or not people like it, the value of these movies is different for our business model,” said Kevin Wilson, the company’s head of theatrical distribution. He underlined that the theater premiere is a huge marketing campaign before the picture hits streaming services.
However, industry analysts remain unconvinced. “The production cost was estimated at $250 million. “That’s a lot of money for a Santa Claus story,” Franchise Entertainment Research’s David A. Gross stated. Gross argued that the film’s budget should have been closer to $150 million.
The film, which also stars J.K. Simmons as Santa Claus and Lucy Liu in a supporting role, will compete with blockbuster films such as “Gladiator II,” “Wicked,” and “Moana 2” around Thanksgiving.
In other box office news, “Venom: The Last Dance” ranked second with $7.4 million, increasing its domestic total to $127.6 million. The Tom Hardy-led conclusion has grossed $436.1 million globally but continues to lag prior sequels.
The weekend also showcased varied cinema, with “Hello, Love, Again” becoming North America’s most successful Filipino film release, grossing $2.4 million from 248 locations.
Analysts remain optimistic despite current box office sales being down 11% from 2023 and 27% from 2019. The approaching Thanksgiving weekend could provide one of history’s most successful holiday box office performances.
