What's Happening?
The latest installment in the horror franchise, 'The Conjuring: Last Rites,' has achieved a record-breaking opening day, grossing $34.5 million across Friday and preview screenings in 3,802 locations. This figure surpasses the previous franchise record set by the 2018 spinoff 'The Nun,' which earned $22 million on its opening day. The film is projected to have a $50 million debut weekend, potentially surpassing 'The Nun's' $53 million for the biggest opening weekend in the series. Directed by Michael Chaves, 'Last Rites' features returning stars Vera Farmiga and Patrick Wilson as Ed and Lorraine Warren. Despite mixed reviews and a CinemaScore of 'B,' the film's performance is bolstered by its release in Imax and premium large-format theaters.
Why It's Important?
The success of 'The Conjuring: Last Rites' underscores the enduring appeal of the horror genre and the franchise's ability to draw audiences. This strong performance is significant for Warner Bros., marking their seventh consecutive film to open above $40 million. The film's success also highlights the potential for horror films to perform well despite mixed critical reception, as audience interest remains high. The financial success of 'Last Rites' could influence future investments in horror films and similar franchises, impacting the types of films that studios prioritize.
What's Next?
With 'The Conjuring: Last Rites' off to a strong start, Warner Bros. may consider further expanding the franchise with additional sequels or spinoffs. The film's performance could also encourage other studios to invest in horror projects, potentially leading to a surge in similar films. Additionally, the film's success in premium formats may prompt more releases to prioritize these viewing experiences to maximize revenue.
