And Yes, ‘Ragnarök’ has an umlaut and it’s lazy not to include it.
Anyway, last week I made the audacious claim that Thor: Ragnarök would likely join the Billion Dollar Club, the hallowed ground where movies that earn at least a billion dollars go during their theatrical runs roam.
And profits matter because as much as some want to make it all about the quality and watchability of a movie–which are important–Hollywood isn’t a charity and if these expensive tentpoles aren’t going to bring adequate returns, they’re going to stop making them.
And it goes without saying that that’s a bit of a double-edged sword because what applies to the original Star Wars trilogy also applied to the Transformers movies 😭.
I mention this because Thor: Ragnarök has crossed the $500 million mark ($502.3 m) not even two weeks into its box office run though it has to be mentioned that it has done so with little in the way of competition–A Bad Mom’s Christmas is less a genuine alternative than cagey counter-programming–till Justice League comes out in about a week’s time.
It’s worth looking at where Thor: Ragnarök is making its money. Over $350 million of the $503 million it has earned thus far has come from the international box office–$354 million versus $150 million domestically.
That domestic figure is problematic, though I suspect if it reaches $400 million on this end of the pond a billion dollar run is assured, and ironically Justice League could help as much as hinder that from happening.
Expect moviegoers to initially flock to the latest from Warner Bros and DC Entertainment (ironically enough, on the strength of Wonder Woman, a fortuitous accident because there’s no sign Warner Bros expected her to resonate with audiences as much as she did) but that should only slow Thor’s momentum, not stop it outright.
And if Justice League doesn’t meet audience expectations–all those rewrites and reshoots weren’t made out of overwhelming confidence–which has the side effect of increasing the budget to a rumored $300 million.
That’s problematic because if it makes anything under a billion it’s a well-intentioned failure, while Thor: Ragnarök at a budget of $180 million can reach $800 million and be comfortably profitable.
Though as I have written, I see it going higher.