Unfortunately, Principe did not meet expectations. While the film performed well internationally, it surged into the US box office, the largest exhibition market. Its current box office take is around $ 350 million, well below the $ 500 million predicted to break even. Only $ 53 million comes from the domestic box office. Even Warner Media CEO John Stankey doesn’t think the film’s release was a success. After its release, the studios slowly left 2020, moving most of their major films to 2021 and beyond, leaving theaters with nothing to show before Christmas, when Wonder Woman: 1984 hits theaters.
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Nolan’s comments come from a new interview with the Los Angeles Times. He discusses his involvement in a new book about his films, but also discusses PrincipeThe box office take and how he thinks Hollywood is looking at things the wrong way:
“But I’m afraid the studios are drawing the wrong conclusions from our release – rather than looking at where the film performed well and how it can provide them with the much-needed income, they’re looking at where it hasn’t lived. live up to pre-COVID expectations and we’ll start using that as an excuse to make the exhibit take all the losses from the pandemic instead of stepping into the game and adjusting – or rebuilding our business , in other words. ”
Nolan is not necessarily wrong in his interpretation. Principe was going to be seen as a failure no matter what. Nolan is one of the biggest box office draws in the world, reliably streaming original blockbusters. The release of one of these blockbusters in the midst of a pandemic, when theaters aren’t even able to fill seats normally, made it inevitable that Principe would make less money than if he had come out during the height of blockbuster season. The idea that exhibitors and studios should reflect on the successes of Principe is solid. In a world where the state of movie broadcasting is so on hold, focusing on how studios and exhibitors can generate revenue is vitally important.
As studios debate the merits of sending some of their biggest movies to streaming, Nolan is right to insist that studios and exhibitors look at ways in which they can generate revenue to keep the theater in business. life. Many theaters are closing or are on the verge of closing, with AMC (one of the biggest exhibitors in the world) set to run out of money by the end of 2020. With the empty blockbuster schedule until Easter 2021 (except for Wonder Woman: 1984), theaters have little production to make a huge profit. Focus on ways theaters could make a profit, rather than how Principe missed expectations, is a more productive conversation. Nolan has always advocated for the movie experience, and her continued advocacy for it might be what keeps her alive.
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Source: Los Angeles Times
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