Warner Bros' Godzilla vs Kong is expected to turn a profit at the box office. The fourth MonsterVerse film debuted in theaters internationally on March 24 and quickly accumulated a record breaking take. How it would perform in the US, the world's largest theatrical market, remained an open-ended question. Godzilla vs Kong released both in theaters and on HBO Max the same day and many thought this would significantly hinder the movie's box office take. That wasn't the case.
Godzilla vs Kong quickly broke several pandemic era box office records in its first two weeks in theaters. The Adam Wingard directed film had the highest opening weekend since March 2020 when theaters originally shut down and, in its first two weeks of release, has become the highest grossing film at the box office in the last year. Godzilla vs Kong's current global box office take sits at $357.8 million in just a few weeks of release and while it slowed down significantly in its second weekend, it looks like it will turn a profit.
According to Deadline, Godzilla vs Kong has already brought some money back to Warner Bros. The current projected profit for the film is around $96.4 million and that number is expected to grow. Once overhead costs and interest are applied, the film will still more than break even.
When all is said and done, Godzilla vs Kong is primed to be even more successful. There's still the opportunity for major money to come from PVOD, but what's more important is what this signals about the box office. Audiences certainly seem eager to return to theaters, especially for the right movie, after more than a year without any event films. Luckily, things are only looking up from here, with most studio blockbusters from 2020 set to hit theaters sometime this year. As more vaccines are distributed across the US and more theaters are open, exhibitors seem primed for a successful return.
This return is very much needed after 2020's box office was down $30 billion from 2019. While it's unlikely the box office will return to the heights of 2019 just yet, it's clear that there's a chance for a serious comeback. Marvel, whose films typically dominate the top 10 highest grossing films of the year, has four films yet to hit theaters - though one, Spider-Man: No Way Home, is a Sony release. Only one of those, Black Widow, is getting a day-and-date release in theaters and on Disney+ similar to Godzilla vs Kong. Several other high profile films will release this summer and in the fall, and all signs certainly seem to indicate that they could do just as well.
Source: Deadline