‘The Odyssey’ storms box office with $264.1 million global debut

LOS ANGELES – “The Odyssey” opened with $124.5 million this weekend to lead all films in North American theaters, according to industry estimates released Sunday.

Director Christopher Nolan’s epic adaptation of Homer’s classic Greek tale stars Matt Damon and a cast of other big names including Anne Hathaway, Zendaya, Tom Holland, Charlize Theron, Robert Pattinson, Lupita Nyong’o, John Leguizamo and Travis Scott.

It is the first film to be shot entirely in 70mm IMAX, making some of its screenings more expensive than the typical movie.

Disney’s “Moana” made $19 million Friday through Sunday, one weekend after opening in first place with about $43 million in theaters in the United States and Canada.

This image released by Disney shows Dwayne Johnson as Maui in a scene from “Moana.” (Disney via AP)

“Toy Story 5” and “Minions & Monsters” tied for third place with $14.8 million each, Rentrak reported. “Toy Story 5” is in its fifth week in theaters, and “Minions & Monsters” is in its third week.

This image released by Disney shows characters Bullseye, left, and Jessie, voiced by Joan Cusack, in a scene from Disney and Pixar’s “Toy Story 5.” (Disney/Pixar via AP)

“Evil Dead Burn” made $5 million in its second week.

Rounding out the top 10 releases were “The Invite” ($3.9 million), “Young Washington” ($3.6 million), “Obsession” ($2.5 million), “Supergirl” ($1.5 million) and “Disclosure Day” ($1.4 million).

This weekend’s overall three-day box office haul was estimated at $193.5 million. The year-to-date total is $5.414 billion — up 10.4% from the figure at this time last year, according to Rentrak.

Christopher Nolan’s ‘The Odyssey’

Christopher Nolan’s “The Odyssey” launched with an estimated $124.5 million in domestic ticket sales and another $139.6 million from overseas, notching an even better debut than “Oppenheimer” and marking the filmmaker’s best opening since 2012’s “The Dark Knight Rises.”

Nolan flexed his singular box-office might with a global debut unlike any other. Few filmmakers alive could pull off a starry, big-budget adaptation of Homer’s epic poem. But in a Hollywood where intellectual property rights rule most hits, Nolan turned one of the world’s oldest works of literature into an unlikely summer blockbuster.

The Universal production was no small gamble on Nolan, coming off the 2023 best picture-winning “Oppenheimer.” With a production budget of $250 million, it’s among the most expensive R-rated movies ever made. Universal is spending some $125 million to market it.

But no behind-the-camera name turns out audiences more than Nolan’s. So great was the hype on “The Odyssey” that IMAX put tickets on sale for some 70 mm showtimes a full year in advance. To satisfy the extraordinary demand for Nolan’s preferred format, IMAX 70 mm, some theaters added midnight and 3 a.m. screenings — and sold them out.

“It’s incredibly rewarding to see the palpable excitement in theaters this weekend,” said Jim Orr, head of domestic distribution for Universal. “Nolan has crafted an epic adventure. It’s on a scale that audiences have responded to extraordinarily well.”

IMAX drives ticket sales

Billed as Nolan’s first feature shot entirely with IMAX cameras, the format drove a huge slice of ticket sales. That included $29.6 million domestically on IMAX and $51.8 million globally, leading to the company’s best weekend ever. IMAX is dedicating its screens entirely to “The Odyssey” for three weeks. Though only 41 IMAX screens can screen “The Odyssey” in 70 mm, they accounted for $6.3 million in ticket sales.

“The IMAX of it all helped turn it from not only a blockbuster, but a global cultural event,” said Rich Gelfond, chief executive of IMAX. “We have tickets on sale for week five in some theaters and some of them have already sold out.”

Since the pandemic, Nolan has been at the forefront of reviving cinemas. His “Tenet” was one of the first big releases to wade back into theaters in 2020. Three years later, “Oppenheimer” and Greta Gerwig’s “Barbie” combined to create arguably the movies’ signature moment of the decade.

“Oppenheimer” ultimately grossed $975 million worldwide.

“The Odyssey” arrived in theaters during Hollywood’s best summer since 2019. Ticket sales are running 10.4% ahead of last year, according to Rentrak. The industry is expecting the first $10 billion year at the domestic box office since the pandemic.

Universal sees ‘The Odyssey’ playing into the fall

The only question for “The Odyssey” will be how front-loaded it is, given that many moviegoers have had this weekend circled for months. The film faced no new-release competition over the weekend, and it won’t next weekend, either.

Gelfond said that presales for the movie’s second weekend would rank among their 10 best presales, proof that many moviegoers are waiting to see the film in their preferred format. IMAX 70mm screenings, he said, are largely sold out for the next month, except for some front row seats.

“Christopher Nolan and Tom Cruise may be the two most high-profile ambassadors for the big-screen experience,” said Paul Dergarabedian, head of marketplace trends for Rentrak. “Nolan is a director who’s a star as much as any movie star in front of the camera.”

The audience for “The Odyssey” was notably male, accounting for 59% of tickets sold. But Orr said moviegoers were otherwise “ridiculously broad,” playing across demographics and geography.

“It’s delivering for a 17-year-old dude and it’s delivering for a female that’s 55 and up,” said Orr. “It points to what I’m convinced will be a very long, very successful run throughout not only the rest of the summer but into the fall, too.”

The next movie to pose any competition, ironically, also stars Tom Holland and Zendaya: Sony’s “Spider-Man: Brand New Day” on July 31. (With CNS and AP reports)

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