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Christopher Nolan's highly anticipated epic The Odyssey is gearing up for one of the biggest worldwide openings of the year, with industry estimates putting
its global debut at $200 million when it opens in cinemas this week. Nolan's latest offering is a Universal Pictures release, his first since the Oscar-winning success of Oppenheimer, and sees him return to his signature big-budget cinematic spectacle, this time adapting Homer's legendary Greek epic to the big screen. The three-hour, R-rated epic stars Matt Damon, Anne Hathaway, Tom Holland, Robert Pattinson, Lupita Nyong'o, Jon Bernthal, Samantha Morton, Zendaya, and Charlize Theron.
Strong domestic and international trends
According to Deadline, early industry estimates pegged The Odyssey's North American opening weekend in the $85 million to $100 million range. The film is expected to earn another $110 million internationally from 73 markets, pushing its worldwide debut well past $200 million.
Universal is releasing the film on about 22,700 international screens in a similar rollout to Oppenheimer. Italy and Greece are among the countries that will get simultaneous releases with the U.S., but key markets such as China, Japan and South Korea will open later. Oppenheimer, starring Cillian Murphy, Emily Blunt and Robert Downey Jr, opened to $181.1 million worldwide, including nearly $99 million internationally, before becoming a global phenomenon.
Currently, non-Universal sources claim that The Odyssey's advance ticket sales are very robust, with around $30 million - $40 million (Wicked: For Good was over $60 million, Deadpool & Wolverine was $50 million).
Premium formats to drive demand
A big reason the film is expected to do so well is the demand for premium large-format screens, especially IMAX 70mm, which Nolan shot on extensively. Interest has been off the charts ever since IMAX tickets went on sale almost a year ago in advance. Several premium venues across Europe, including London's BFI IMAX and Science Museum IMAX, sold out in advance. A similar demand was reported in Melbourne and in Prague.
Industry experts say many moviegoers may be deliberately opting for premium showtimes over regular screenings, which could affect the weekend revenue pattern for the film. Advance ticket sales are said to be estimated between $30 million and $40 million, though sales have also gone well beyond opening weekend.
Limited box office competition
Unlike Oppenheimer, which famously debuted alongside Warner Bros.' blockbuster Barbie, The Odyssey will not have a major wide studio release to compete with during its opening weekend. Nolan's film should have relatively clear sailing at the worldwide box office, as Disney's Moana sequel is expected to hold on to second place after a strong opening last weekend.
Industry watchers say the current FIFA World Cup matches could have a slight impact on attendance in football-loving countries like the UK. But exhibitors believe audiences will shift their viewing habits and not skip the movie entirely.
Star power and positive buzz
The movie features a stellar cast. Nolan also took Damon and Holland to Mumbai to promote the film after its premieres in London and Paris, a sign of Universal's belief in markets like India, where Oppenheimer grossed nearly $19 million. Adding to the positive trends is the movie's early reactions from critics who have seen the film, with inside reports stating good reviews are on its way.
