The Long ‘Oppenheimer’ Theatrical Window — and Its Tiny Added Gross — Makes the Case for Earlier Home Releases
Christopher Nolan rightly is credited as a champion of the theatrical experience. And the success of “Oppenheimer” (Universal) in theaters, and as a superior experience both in presentation and as part of a communal event, is one of the great cinematic successes of the year.
That began on July 21, the same day of course that “Barbie” (Warner Bros.) opened. Greta Gerwig’s film of course was even bigger (domestic gross $636 million to $325 million for “Oppenheimer”). But apart from the difference of degree of their respective huge successes, after their parallel debut, their release strategies veered.
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“Barbie” had a 52 day window before being released to PVOD (at $24.99 to rent) on September 12. “Oppenheimer,” with Universal catering to Nolan’s preferences, waited 120 days, and at $19.99 to rent.
It’s an interesting case study on the value of a delayed release. A look at each film’s theatrical run and subsequent home play suggests WB made the smarter move.
And with little harm to theaters, at least in the immediate term. It made complete sense that Universal ignored its usual timing of 18 days (sometimes 32 for bigger openers) in the case of Nolan’s film. It grossed an additional $91 million after 18 days (nearly a quarter of its total), and $38 million after 32 days.
But the case could be made that as early as 45 days into its run, the impact of PVOD would have been minimal in theaters. Playing exclusively there, it added only $16 million more. After 52 days (the “Barbie” window), $10 million. After 60 (very long, but what Disney had for “Elemental” and “Indiana Jones and the Dial of Destiny”), $6 million. After 90 (“Mission: Impossible — Dead Reckoning Part One”) only $1 million.
And remember that the gross is shared with theaters, so a good portion of that extra revenue doesn’t go to Universal.
Contrast that with “Barbie.” Its debut on PVOD at a higher than usual price placed at #1 on all charts for multiple weeks, boosted later by price reductions and availability to buy, then reduced to $5.99 to rent (what it is now). It has been at or near the top for over 10 weeks. We don’t know the revenue raised since studios don’t release this information. But we do know that WB got 80 percent of the higher-priced transactions (after minor carrier charges), and was able to charge a premium price initially.
“Oppenheimer” is a standard $19.99 and is clearly doing well. Because of the lack of revenue reporting, it will be difficult to gauge how much was lost with the delay. But what is important to note is that any argument that the delay helped its theatrical total, certainly by 60 days (60 before its actual release on VOD) is easily contradicted.
One can argue that the sense that this would have a longer window may have meant more people went to see it in theaters initially. As an important release, standing out as an example that some films deserve more theatrical exclusivity, perhaps this is a victory for theaters. But that’s theoretical. The film did not get an extended run in theaters and then make more money there because of the delay.
“Barbie” with its recent price cut is number two at both iTunes and Google Play (both charting by transactions, and third at Vudu, which calculates by revenue). “The Creator” (Disney), which ranked high in its initial week at $19.99, fell lower everywhere. Its price put it second at Vudu, but otherwise it seems to not be sustaining its initial interest.
Otherwise this week’s charts show reduced priced long-term play titles taking most positions. One advantage of “Oppenheimer” getting a release now is that it has little competition.
On streaming, Netflix’s long-term relationship with Adam Sandler pays off once again with “Leo.” The animated comedy was voiced, produced, and co-written by the actor. It went to #1 immediately.
It leads a list dominated either by Netflix produced or exclusively premiered titles. “Best. Christmas. Ever!,” last week’s #1, is second currently. “Dampyr,” an Italian horror film not released domestically is #3, while “Frybread Face and Me” is fourth. The latter, set at a Navajo-owned Arizona ranch, premiered at South by Southwest and comes from Ava DuVernay’s distribution company Array.
“Last Call for Istanbul” from Turkey at #6 and David Fincher’s “The Killer,” now at #9, complete their typically eclectic original offerings.
iTunes and Google Play rank films daily by number of transactions. These are the listings for Monday, November 27. Distributors listed are current rights owners. Prices for all titles are for lowest for either rental or download.
iTunes
1. Oppenheimer (Universal) – $19.99
2. Barbie (WB) – $5.99
3. Mission: Impossible — Dead Reckoning: Part One (Paramount) – $5.99
4. The Equalizer 3 (Sony) – $5.99
5. How the Grinch Stole Christmas (Universal) – $3.99
6. Dumb Money (Sony) – $5.99
7. Indiana Jones and the Dial of Destiny (Paramount) – $5.99
8. The Creator (Disney) – $19.99
9. Gran Turismo (Sony) – $5.99
10. The Grinch (Universal) – $3.99
Google Play
1. Oppenheimer (Universal) – $19.99
2. Barbie (WB) – $5.99
3. The Equalizer 3 (Sony) – $5.99
4. Mission: Impossible — Dead Reckoning: Part One (Paramount) – $5.99
5. The Creator (Disney) – $19.99
6. How the Grinch Stole Christmas (Universal) – $5.99
7. Indiana Jones and the Dial of Destiny (Paramount) – $5.99
8. Gran Turismo (Sony) – $5.99
9. Sound of Freedom (Angel) – $19.99
10. Saw X (Lionsgate) – $5.99
Vudu
Vudu ranks by revenue, not transactions, elevating premium VOD titles. This list covers November 20-26.
1. Oppenheimer (Universal) – $19.99
2. The Creator (Disney) – $19.99
3. Barbie (WB) – $5.99
4. Mission: Impossible — Dead Reckoning: Part One (Paramount) – $5.99
5. The Equalizer 3 (Sony) – $5.99
6. Indiana Jones and the Dial of Destiny (Disney) – $5.99
7. Expendables 4 (Liongates) – $5.99
8. The Marsh King’s Daughter (Roadside) – $19.99
9. How the Grinch Stole Christmas (Universal) – $3.99
10. Saw X (Lionsgate) – $5.99
Netflix Movies
Most viewed, current ranking on Netflix’s daily chart on Monday, November 27. Originals include both Netflix-produced and acquired titles it initially presents in the U.S. Netflix publishes its own weekly top 10 on Tuesdays based on time viewed.
1. Leo (Netflix animated original)
2. Best. Christmas. Ever! (Netflix original)
3. Dampyr (Netflix Italian original)
4. Frybread Face and Me (Netflix original)
5. Lone Survivor (2013 theatrical release)
6. Last Call for Istanbul (Netflix Turkish original)
7. Minions (2015 theatrical release)
8. The Christmas Chronicles (2018 Netflix original)
9. The Killer (2023 Netflix original)
10. Spider-Man: Across the Spider-Verse (2023 theatrical release)
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