“The Way of Water” grossed over $2 billion at the box office worldwide

Avatar: The Way of Water

Courtesy: Disney Co.

Disney‘s Avatar: The Way of Water has surpassed $2 billion at the worldwide box office, becoming the second James Cameron film to reach that mark.

Only five other films have achieved this metric – the original Avatar, Avengers: Endgame, Cameron’s Titanic, Star Wars: The Force Awakens, and Avengers: Infinity War.

As of Sunday, The Way of Water had grossed $598 million from domestic ticket sales and $1.426 billion from overseas markets. The film is the sixth highest-grossing film of all time and is likely to move up the rankings as its run in theaters continues.

“The film has now joined this very exclusive box office club and makes it look almost effortless,” said Paul Dergarabedian, senior media analyst at Comscore.

Box offices struggled to recover in the wake of the pandemic as audiences shifted to more home theaters and fewer films made their way to the big screen. As the industry recovers, films like The Way of Water have proven moviegoers eager to return for big blockbuster extravaganzas. And many are willing to pay for premium shows like IMAX or large format screens, which often come at a higher price.

While The Way of Water had a more muted-than-expected performance in China, driven by a surge in Covid numbers and hospitalizations due to the virus, it has prompted strong ticket sales from France, Germany and Korea.

Reaching the $2 billion mark bodes well for the Avatar franchise, which is set to release three more installments over the next five years. It also meets the goal set by Cameron, who previously said the film would have to be the third or fourth highest-grossing film in history just to break even.

“In line with Cameron’s ‘King of the Box Office’ career, it should come as no surprise that the justification for completing the director’s vision for the world of Pandora is now undeniably secured, receiving the stamp of approval from adoring fans around the globe.” said Dergarabedian.

It’s unclear what the film’s production budget was, although estimates range from $250 million to $350 million, not including marketing costs.

The Way of Water should continue to generate box office revenue as it has no direct competition in theaters until mid-February when Marvel Studios releases Ant-Man and the Wasp: Quantumania.

https://www.cnbc.com/2023/01/22/avatar-the-way-of-water-tops-2-billion-at-the-global-box-office.html “The Way of Water” grossed over $2 billion at the box office worldwide

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