As uncertainty regarding the box office continues amidst COVID concerns, there has been one undeniable bright spot in the dog days of August. That would be Shawn Levy’s Free Guy starring Ryan Reynolds and its apparent second weekend grosses only puts an exclamation on the point.
The sci-fi family comedy surprised the film community originally with better than expected reviews (82% on Rotten Tomatoes). It continued to do so when it exceeded projections with a robust $28 million debut. Most forecasts ranged from the high teens to low 20s (my own was $21 million).
Yet perhaps the most encouraging sign are reports of its sophomore frame grosses. Free Guy will easily remain #1 with a projected drop around 40%. That should put it at approximately $17 million with an overall domestic take in the mid to upper 50s. With sturdy word-of-mouth, the Fox property seems destined to cross the $100 million mark stateside. The studio is already lining up a sequel. For context, that should be stronger than the second weekend for Jungle Cruise (which opened larger… more on that below).
Why is this somewhat unanticipated? To put it simply, Free Guy is performing in frame #2 much the same way it would without a pandemic. The few blockbusters of the season have experienced huge falls in their second outings and Free Guy is bucking that trend. Black Widow tumbled 68%. The Suicide Squad crashed at 71%. Even the aforementioned Jungle Cruise took a 55% dip.
What do all three of those titles have in common? That trio was available simultaneously on Disney Plus (Widow, Cruise) or HBO Max (Squad). Free Guy can be streamed only in the theater. With its positive audience reaction (it has an A on Cinemascore), moviegoers are proving that a title can have staying power if it’s: 1) good and 2) just in theaters.
This is a rare piece of good news for multiplexes in an industry starving for it. There are three other offerings this weekend aimed toward adults: Reminiscence, The Protege, and The Night House. All are headed toward meager starts outside of the top five. The other newbie is PAW Patrol: The Movie and it looks to slightly exceed expectations with around $12-$13 million (it’s also streaming on Paramount+).
So will studios adjust to Free Guy‘s solid performance? It could be a mixed bag. First, they might have to feel they have a product as pleasing as what Mr. Levy and Mr. Reynolds have created. Just yesterday, Universal Pictures announced they are keeping their animated sequel The Addams Family 2 in theaters but also making it available via streaming on the same say. On the other hand, Disney is keeping the next MCU adventure Shang-Chi and the Legend of the Ten Rings only in cineplexes for 45 days starting Labor Day weekend. That might be the biggest test we have seen thus far for the theater only experiment.
Is Free Guy an anomaly or proof that if you build it only in theaters… they will come? We may need some more samples before studios make more decisions that favor theater chains.