Does Steven Spielberg need Gen Z? It’s a fair question, considering the devastating second weekend box office drops that blockbusters “The Mandalorian and Grogu” and “Masters of the Universe” had recently due, in part, to a complete lack of interest from the younger generation.
Spielberg’s original sci-fi film “Disclosure Day,” his first summer opening since 2016’s “The BFG,” topped the box office with a solid $44 million domestic this weekend, but it did so with an older-skewing audience: Just 17% of the weekend crowd was under the age of 25.
It’s not surprising. The oldest Gen Z-er was five years old when “Minority Report” and “Catch Me If You Can” hit theaters, and their formative years were shaped more by Christopher Nolan and Marvel than Spielberg.
And perhaps that’s just fine. Millennials, Gen X and Boomers turned out for “Disclosure Day,” and there’s a world in which the older demographic — which doesn’t necessarily rush to see things opening weekend — boosts the overall gross of the $115 million thriller. And you can’t say Universal didn’t try to court the young crowd, as Spielberg did more podcast interviews and cinephile-friendly press than he ever has before.
Universal also has a robust post-theatrical pipeline, including a lucrative PVOD business and a licensing deal with Netflix. So “Disclosure Day” will be seen by many — eventually.
But in a theatrical landscape where “movies for grownups” are few and far between at the theaters, the opening weekend demographics are interesting.
It’s a curious time for the filmmakers from the ’70s and early ’80s who formed so much of our modern cinematic language. Martin Scorsese managed to squeeze through two wildly expensive streaming epics to wild acclaim (“The Irishman” and “Killers of the Flower Moon”) in the last decade. But Francis Ford Coppola invested over $120 million of his own money for the critically derided bomb “Megalopolis,” and Brian De Palma hasn’t made a movie since 2019’s “Domino.”
Spielberg has always been the most commercial of the bunch, but even he struggled to get a studio to back “West Side Story,” which nearly went to streaming. As generations shift and tastes change — and Gen Z is signaling it craves original, edgy films — where the legends of cinema sit in the consumer marketplace becomes a fascinating question.
Although it has to be said that Spielberg will be A-OK. Even if “Disclosure Day” has a more blockbuster-y plot engine, it’s still a deeply personal film about the filmmaker’s relationship to extraterrestrial life and, at heart, is a plea for empathy. He’s rarely made movies that are “just for fun,” but “Disclosure Day” is right in the pocket of the director’s more thematically complicated fare as of late like “The Fabelmans” and “The Post.”
In other words, “Disclosure Day” is exactly the movie he wanted to make.
Now, on to the rest of this week’s Reel to Real column as we tackle how the “Obsession” profits are being divided up, why Lionsgate decided to launch a boutique Blu-ray label now, the next Kane Parsons/Curry Barker and more in this week’s newsletter.
Box Office: ‘Disclosure Day’ Earns $92.9 Million Global Opening Amid Steep Drops for ‘Scary Movie,’ ‘Masters’
Universal/Amblin’s “Disclosure Day” is off to a solid start with a $44 million domestic/$92.9 million global opening on a weekend at the box office where Focus Features’ “Obsession” remains the one constant. In contrast, last weekend’s major studio offerings took sharp drops.
As expected for a Spielberg film, “Disclosure Day” skewed heavily towards older audiences who have grown up with his films, with 59% of moviegoers over the age of 35 and 41% over the age of 45. By comparison, 38% were in the 18-34 demographic, with just 17% under the age of 25.
This could lead to a sharp second weekend decline for “Disclosure Day” unless older moviegoers continue to significantly turn out, as moviegoers under 45 are likely to be drawn to Disney/Pixar’s “Toy Story 5” next weekend. Tracking for an opening of at least $150 million, if not higher, the return of Woody and Buzz is expected to be a four-quadrant hit.
In second place is “Obsession,” which now stands at $188 million domestic and $260 million worldwide after a fifth weekend total of $19 million, which is still above the horror hit’s $17.7 million opening weekend. In the coming week, “Obsession” will become the fifth horror film in history to cross $200 million domestic before inflation adjustment in box office history and only the second original film to cross that mark since 2017, alongside last year’s “Sinners.”
Paramount/Miramax’s “Scary Movie” is in third with $14.5 million, which is a massive 73% drop from its $54.3 million opening. The good news is that the film has already turned a theatrical profit against its $30 million production budget with $84.5 million domestic and $173 million worldwide.
The same can’t be said for Amazon MGM’s “Masters of the Universe,” which also had a huge second weekend drop of 71% for a second weekend total of just $8.4 million. With a global total of just $86 million after two weekends, this $170 million-plus budgeted blockbuster is bombing fast, failing to draw a significant audience beyond Gen X male moviegoers nostalgic for the 80s fantasy franchise. – Jeremy Fuster
The Spotlight
You won’t read it anywhere else — exclusively on TheWrap we have the numbers breakdown of indie horror hit “Obsession,” including the over $17 million windfall that Jason Blum pocketed due to Blumhouse Atomic’s rich deal, having come onto the film after Focus Features acquired it to help with the marketing. As Curry Barker’s horror movie crests $188 million domestic, some of the key stakeholders are netting big bucks. Read the full story here.
New Releases
Blu-rays Are Back: What would possess a film studio to launch a Blu-ray arm in a diminished home video environment? Drew Taylor got the lowdown on Lionsgate Limited and its unlikely success.
Best and Worst Case for “Disclosure Day”: Jeremy Fuster unpacks the two likeliest scenarios for the box office of Spielberg’s latest.
The Future of Star Wars: Where does “Star Wars” go now that the heavily Dave Filoni-esque “The Mandalorian and Grogu” fumbled in theaters?
Another YouTube Success Story: Though smaller in scale, “The Amazing Digital Circus” was another YouTube-to-movie-theaters success story. Jeremy Fuster breaks down how it happened.
The Next Curry Barker or Kane Parsons: TheWrap’s creator expert Kayla Cobb runs down 9 creators with the potential to break out next.
Unpacking “Disclosure Day”: Screenwriter David Koepp tells Drew Taylor how he and Spielberg took a “science-fact” approach to the UFO movie.
Post-Production Tax Credits: Jeremy Fuster digs into California’s efforts to get tax breaks for post-production in the state.
Concession Stand
Exclusive: Jason Fuchs is writing the new “Transformers” movie.
“Whalefall” — a real-time thriller about a guy swallowed by a whale — looks insane.
“Challengers” and “Queer” scribe Justin Kuritzkes co-wrote the new “Spider-Man” film.
“Open Door,” a YouTube short from Kevin Cate with 15 million views, is getting a feature film adaptation.
Despite “The Bride!” bombing at the box office, Warner Bros. is getting back in business with Maggie Gyllenhaal.
Does the dog die in the new Brad Pitt movie? It’s already been spoiled.
Tom Cruise reunited with Spielberg alums Dakota Fanning and Colin Farrell at a celeb-packed screening of “Disclosure Day” he hosted.
People have thoughts about Aaron Sorkin’s “The Social Reckoning” trailer.
“24 Jump Street” is happening.
Streaming Corner
- The long-discussed “Romy and Michele’s High School Reunion” sequel is finally happening, but it will be a Hulu movie, not in theaters. It’s an interesting move since 20th Century Studios has recently pivoted to making successful theatrical films after a period of streaming exclusives, and millennial nostalgia has been fueling box office hits like “The Devil Wears Prada 2.” Though we should probably just be happy the sequel to the hilarious 1997 comedy is finally rolling cameras.
- Elsewhere, the Jennifer Lopez-Brett Goldstein rom-com “Office Romance” got off to a strong start on Netflix with 21 million views on opening weekend. That’s not a blowout debut like “Apex” (38.2 million) or “War Machine” (39.3 million), but it’s solid. We’ll see how the numbers hold when the full week’s viewership arrives.
What I’m Watching
Count me among the “Disclosure Day” faithful. It’s a really thrilling chase movie, but Spielberg and writer David Koepp’s story of empathy as humanity’s greatest superpower moved me. And Emily Blunt? Wow. Best performance of her career, operating at an incredibly high level of difficulty with this role. If Universal is smart, they’ll push her in the Oscar race later this year.
