Red One's box office passes major global milestone (but barely makes back a third of its budget)

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Red It has passed a major milestone at the global box office, but it’s not enough to offset its massive budget. The Christmas action comedy film follows the kidnapping of Santa Claus (JK Simmons) and the mismatched duo who try to rescue him, namely the friendly Callum Drift (Dwayne Johnson), the North Pole security commander, and the mischievous Jack O’Malley (Chris Evans), a notorious bounty hunter hacker. THE Red The release kicked off the blockbuster season as Hollywood’s first big-budget tentpole in November.

Put Variety, Red is projected to close its second weekend in international theaters with a three-day gross of $14.7 million. This total, combined with the opening weekend gross of $34.1 million at the domestic box office, arrives this weekend bringing its cumulative worldwide gross to US$84.1 million. While it surpassed the $80 million global milestone, that total barely represents a third of its massive $250 million production budget.

What does this mean for Red

The film’s prospects are unclear

Despite becoming the 39th film of the year to surpass the US$80 million global mark and doing so after just three days in national theaters, the new action comedy is still far from finishing in the black. Generally, a film needs to earn two and a half times its production budget to break even. Given the fact that Red budget is US$250 million, not counting advertising costs, will likely need to earn $625 million or more to break even in theaters.

Reaching the break-even point during theatrical viewing may not be an important goal for Redas was originally designed for a Prime Video-exclusive streaming release before going to the cinemas. Even if it doesn’t break even, this theatrical run will act as advertising for its eventual streaming run, which will likely be scheduled to take place just before Christmas. If that boosts viewership at home, the film could become an asset to its library, even if its road to genuine profitability is still a long way off.

More to come…

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Source: Variety

After Santa Claus is kidnapped, the North Pole’s Chief of Security (Dwayne Johnson) must team up with a notorious bounty hunter (Chris Evans) on a thrilling global mission to save Christmas. This action-packed holiday adventure mixes comedy and festive magic, with a cast that includes Lucy Liu and JK Simmons.

Director: Jake Kasdan
Release date: November 15, 2024
Writers: Chris Morgan and Hiram Garcia
Cast: Dwayne Johnson, Chris Evans, JK Simmons, Lucy Liu, Kiernan Shipka, Bonnie Hunt, Kristofer Hivju, Nick Kroll, Wesley Kimmel, Mary Elizabeth Ellis, Wyatt Hunt, Lanz Duffy, Marc Evan Jackson, Ashleigh Domangue, Cody Easterbrook, Jon Rudnitsky, Morla Gorrondona, Jenna Kanell, Rod Maxwell, Fedor Steer, Octavia Grace, Matthew Zuk, Cora Kass, Ahmad Ghafouri, Jeff Chase
Character(s): Callum Drift, Jack O’Malley, Santa Claus, Zoe, Gryla, Mrs. Claus, Krampus, Ted, Dylan, Olivia, Young Jack O’Malley, Gene, Uncle Rick, Jamie Hummiston, HIT Instructor, Beef Stew, Ogre Gryla, Guest Krampus, Stage Manager, Cyclops
Execution time: 123 minutes

This article covers a developing story. Keep checking back with us as we will add more information as it becomes available.