‘Red One’ Box Office Shows Weak Opening With $34 Million

The holiday action-comedy “Red One,” starring Dwayne “The Rock” Johnson and Chris Evans, opened to a modest $34.1 million from 4,032 theaters in North America. While the debut topped the domestic box office and dethroned “Venom: The Last Dance” after three weeks, questions remain about the financial viability of the film. With a massive $250 million production budget and $100 million spent on global marketing, “Red One” will need a robust holiday season run to justify its high cost.

A High-Stakes Christmas Blockbuster

Originally commissioned as a streaming project for Amazon MGM, “Red One” shifted to a theatrical release to maximize exposure. The film tells the story of Santa Claus, played by J.K. Simmons, being kidnapped, which forces his head of security (Dwayne Johnson) and a bounty hunter (Chris Evans) to team up for a daring rescue. Packed with action, humor, and holiday cheer, the movie aims to capture the spirit of the season.

Instagram | hhgarcia41 | Dwayne Johnson and Chris Evans team up in Red One for a holiday adventure.

Despite the film’s festive appeal, critics were less than impressed. “Red One” holds a 33% rating on Rotten Tomatoes, signaling mixed to negative reviews from reviewers. Audiences, however, had a more favorable view, awarding the movie an “A-” on CinemaScore. This positive audience response offers a glimmer of hope for the movie’s performance over the next few weeks.

David A. Gross, head of Franchise Entertainment Research, analyzed the numbers and expressed concerns about the film’s economics. “A $250 million production budget is far too high for this type of movie,” he said. “The opening isn’t catastrophic, but it’s not enough to offset costs once marketing and distribution are included. A project like this shouldn’t exceed $150 million in budget.”

International Markets Bring Additional Revenue

On the international stage, Warner Bros. is handling the distribution of “Red One.” In its second weekend overseas, the film earned an additional $14.7 million from 75 international markets. This brings its worldwide box office tally to $84.1 million, combining $50 million internationally with the domestic gross.

While global figures offer some relief, the movie’s financial performance still falls short of expectations. To break even, “Red One” will need to sustain strong momentum through the holiday season, particularly as competition intensifies in the coming weeks.

Tough Competition on the Horizon

The timing of Red One’s release means it will soon face challenges from high-profile films arriving during the holiday season. Movies such as Wicked, Gladiator II, and Moana 2 are poised to dominate the Thanksgiving box office, potentially limiting the audience reach of “Red One.”

Amazon MGM’s head of theatrical distribution, Kevin Wilson, acknowledged the competitive landscape. “We’re aware of the big movies coming behind us,” Wilson said. “But Red One offers something unique—a mix of holiday magic, action, and comedy that appeals to families and fans of seasonal movies.”

A New Approach to Measuring Success

Unlike traditional studios, Amazon MGM has a broader view of success for its projects. The company prioritizes theatrical releases as a way to generate buzz and drive subscribers to its streaming platform, Prime Video. This hybrid strategy values long-term streaming performance as much as box office figures.

“If we can cover our print and advertising costs through the box office, the release is worth it,” Wilson explained. “Theatrical runs also double as large-scale marketing campaigns for our streaming platform. This helps us build momentum before the film arrives on Prime Video.”

This strategy mirrors approaches taken by Apple and Netflix, which have also ventured into theatrical releases to boost awareness for their titles. However, the lack of standardized viewership reporting for streaming platforms makes it harder to evaluate whether the gamble pays off. The ultimate success of “Red One” may depend on whether Amazon MGM decides to greenlight a sequel.

“Venom: The Last Dance” Holds Strong

Instagram | heroemaniaco | Venom The Last Dance continues to perform well at the box office.

In second place, Sony’s “Venom: The Last Dance” added $7.3 million in its fourth weekend across 3,421 theaters. So far, the film has earned $127.6 million domestically and $436.1 million globally. While these numbers trail behind the first two films in the franchise, the lower production cost of $120 million keeps the threequel on track for profitability.

Family Films and Horror Round Out the Top Five

Other movies held their ground in the box office rankings. Lionsgate’s holiday family movie, “The Best Christmas Pageant Ever,” earned $5.4 million in its second weekend, bringing its domestic total to $19.9 million. Meanwhile, A24’s psychological horror film Heretic brought in $5.16 million, bringing its ten-day domestic total to $20.4 million.

Universal and DreamWorks Animation’s “The Wild Robot” also performed steadily. The animated film, now in its eighth weekend, earned $4.3 million, with minimal drop-off in ticket sales. Its domestic gross now stands at $137.7 million, with a global total of $308 million.

The Year-End Box Office Outlook

The domestic box office for 2024 remains down by over 11% compared to 2023, and nearly 27% behind pre-pandemic levels in 2019, according to Comscore. However, industry analysts remain optimistic about the upcoming Thanksgiving period.

Paul Dergarabedian, a senior analyst at Comscore, commented on the potential impact of holiday blockbusters. “The one-two punch of “Wicked” and “Gladiator II,” along with “Moana 2,” could lead to one of the most successful Thanksgiving box office periods in history,” he said.

As “Red One” continues its theatrical run, its ability to maintain audience interest will play a crucial role in its financial performance. The film has the potential to carve out a niche during the holiday season, but the competitive landscape and high production costs make its path to success uncertain.