Box Office: ‘Tenet’ Kicks Off With $20 Million in the U.S., Nears $150 Million Globally

Christopher Nolan’s sci-fi epic “Tenet” arrived in U.S. theaters with $20.2 million in ticket sales over Labor Day weekend. The movie is already nearing the $150 million mark globally, thanks to a sold $78.8 million haul from international markets.

“Tenet” is launching over the holiday weekend in about 2,800 cinemas across the country, a smaller footprint than normal for a wide release. But Warner Bros., the studio behind the twisty thriller, is banking on it being enough to justify unspooling the $200 million-budgeted film after months of delays. Currently, about 70% of multiplexes in the U.S. have reopened, though major territories like New York City, Los Angeles, Seattle and San Francisco are still off limits.

Drive-in theaters have been a boon for markets where indoor cinemas can’t reopen yet. However, Warner Bros. issued guidelines that restricted the areas where the film can play outdoors. They mandated that “Tenet” can only screen at drive-in theaters if indoor venues in that particular city are open. That means drive-ins in  Los Angeles and San Fransisco, both of which have been doing robust ticket sales during the pandemic, didn’t have access to one of the buzziest titles of the year.

Though “Tenet” started playing in theaters on Thursday, Warner Bros. opted not to report grosses until Sunday. Hollywood has been looking to “Tenet” as an indicator of the viability of the movie theater business during a global health crisis. Many exhibitors reopened their cinemas in time to screen “Tenet,” and they are banking on pent-up demand to see a movie on the big screen for the first time since the pandemic hit in March.

China, where “Tenet” premiered on Friday, pulled in more than $8 million in ticket sales on opening day and $30 million over the weekend. When it comes to restarting business, the country is well ahead of the U.S. Already, China has seen notable success with war epic “The Eight Hundred,” which has grossed over $300 million to date.

The John David Washington and Robert Pattinson-led blockbuster cost $200 million to make, and many millions more to globally promote. That means the time-bending thriller needs to pull in robust ticket sales to turn a profit. But without much competition from other Hollywood movies, Warner Bros. is hoping “Tenet” will play in theaters for months to come.

When it comes to competition, “Tenet’s” biggest rival may be coming from the small screen. “Mulan,” Disney’s reimagining of 1998 cartoon, is skipping U.S. theaters and launching this weekend on Disney Plus. The family movie is available to rent on the studio’s streaming service for $30.

In areas where Disney Plus is not available, “Mulan” is opening on the big screen. The fantasy epic — directed by Niki Caro and starring Liu Yifei — drew $5.9 million from nine international markets, including Malaysia, Singapore and Thailand. “Mulan” opens in China and Russia next weekend.

In weeks since theaters have started to resume business, a handful of new releases, such as “The New Mutants,” Russell Crowe’s road-rage thriller “Unhinged” and “The Personal History of David Copperfield” starring Dev Patel have debuted.

Disney and 20th Century’s “The New Mutants” are aiming to generate $3.5 million through Labor Day, taking its North American bounty to $12.3 million.

Searchlight’s “David Copperfield” is expected to pull in $470,000 from 1,550 theaters over the four-day holiday weekend. That should push its domestic tally to $1.13 million through Monday.

“Unhinged,” in its third weekend in theaters,” made $655,000 on Saturday and looks to collect $1.67 million over the weekend. Through Monday, the movie is projecting $11.67 million total.

More to come…