Sony’s first Marvel property to be released in the pandemic era, Venom: Let There Be Carnage, was released last Thursday, with expectations of opening at $40M-$50M. The actuality blew Black Widow’s opening weekend Box Office pandemic record to close at around $90M. The Venom sequel barges into theaters a clear month before the domestic release of the latest Bond installment, and with breathing room from other predicted hits like Dune. And it is a key test of the much-celebrated Box Office recovery. We turned to entertainment attorney Brandon Blake for his perspective on the matter.
Brandon Blake- The Entertainment Lawyer
Is the recent upward trend in the Box Office merely a blip, or is it representative of sustained post-pandemic improvement? Venom 2 offers us a very unique chance to benchmark this progress, as it happens to have opened on the exact same weekend as its predecessor in 2018. With a wealth of data on other Marvel sequels, too, we have an unprecedented chance to really see what’s happening.
It opens with no other new film opening over $7.5M to challenge it. Venom, on the other hand, had five films debut over $20M, and A Star Is Born opened on the same weekend at $42M. So it’s a vastly different world.
It’s not entirely fair to compare the darker, edgier, Sony Marvel releases to those owned by Disney, but let’s look at a few figures. In recent years, the second installment of any Marvel debut has typically grossed an average 18% higher than the first film, even if the ultimate gross comes in a little lower. Only Deadpool 2 broke the pattern, with a 5% drop.
While the 2 Venom installments open on the same weekend, Venom’s release also coincided with the Columbus/Indigenous Peoples’ Day holiday weekend, which Venom 2 did not. Nor does Venom 2 bring the novelty interest that Shang Chi did, with a new story and cast. Yet it succeeded in matching those stats. Venom debuted to just over $80M, and Venom 2 shows a 12 % raise on takings.
Sure, it’s one movie, and it’s opening with far less competition than its predecessor. Yet we have not only a pandemic record-breaking weekend, but one that accurately mirrors previous sequel trends. The real proof will come through its sustained run at theaters, of course, but for now, stats are looking good.
