Overview

As the holiday season approaches, excitement is building around Amazon MGM Studios' Christmas action film, *Red One*, starring Dwayne Johnson and Chris Evans. The film is on track to exceed the impressive milestone of $100 million at the global box office tomorrow.

Box Office Performance

Despite beginning with a somewhat lower-than-expected opening weekend in the U.S. and Canada, raking in $32.1 million, *Red One* saw a notable uptick on Tuesday, grossing $3.1 million, which is an 87% increase from Monday's total of $1.66 million. While this Tuesday's earnings are slightly below the $3.4 million collected by Johnson’s previous hit, *Rampage*, they still indicate a positive trend. Notably, the film's cumulative total overseas stands at $55 million, with international markets being managed by Warner Bros. The overall production budget for *Red One* is reported to be between $200 million and $250 million.

Strategic Release

Originally conceived as a streaming release, Amazon made a strategic move to bring the film to theaters, hoping to amplify its reach. Insiders have shared that recouping the $100 million spent on global production and advertising (P&A) costs would deem the project a success for Amazon, both as a shopping platform and a streaming service.

Competition

However, *Red One* will face stiff competition this weekend with the highly anticipated releases of *Wicked Part One*, led by Ariana Grande and Cynthia Erivo from Universal, and *Gladiator II*, directed by Ridley Scott and starring Paul Mescal from Paramount. *Wicked* has already garnered attention with fan screenings on Monday and Wednesday and is projected to make between $130 million and $150 million in its domestic opening weekend. Meanwhile, *Gladiator II* is eyeing a solid debut of over $60 million, with presales for *Wicked* indicating a robust $30 million just two days ago.

Audience Reception

Despite the tough competition, *Red One* has received a solid A- CinemaScore, suggesting that audiences are enjoying the film despite mixed critical reviews. Historically, Christmas films have demonstrated a remarkable ability to multiply their box office earnings post-opening, with pre-pandemic releases averaging a 3x to 5x return.

Looking Ahead

As *Red One* looks to capitalize on the holiday spirit, it will be interesting to see how well it performs against these competing blockbusters, especially with the looming potential of a streaming debut after its theatrical run. Will Johnson and Evans’ film continue to attract viewers into theaters, or will its festive charm be overshadowed by the new releases? Only time will tell!