- "Avatar: The Way of Water" has crossed the $2 billion mark at the global box office, becoming the third James Cameron film to reach this milestone and the sixth highest-grossing film of all time.
- The film's success is attributed to its strong performance in foreign markets and its appeal to audiences looking for big blockbuster spectacles.
- The film's success bodes well for the Avatar franchise, which has three more installments planned for release in the coming years.
Disney's latest film, "Avatar: The Way of Water," has made box office history by crossing the $2 billion mark at the global box office, making it the third James Cameron film to reach this benchmark and solidifying its place as the sixth highest-grossing film of all time. This accomplishment is even more remarkable given the current climate, as the box office has struggled to recover in the wake of the pandemic, with audiences shifting to more at-home viewing and fewer films reaching the big screen. The success of "The Way of Water" proves that moviegoers are eager to return to theaters for big blockbuster spectacles and are willing to pay for premium showings like IMAX or large format screens that often come with a higher price tag.
As of Sunday, "The Way of Water" had tallied $598 million from domestic ticket sales and $1.426 billion from foreign markets. The film's strong performance in foreign markets, particularly in France, Germany, and Korea, has helped it achieve this milestone. The film's showing in China, however, has been more muted than expected due to a spike in Covid-19 numbers and hospitalizations in the country.
Reaching the $2 billion mark is a significant achievement for the Avatar franchise, which has three more installments planned for release in the coming years. It also meets the goal set by James Cameron, who had previously said that the film would need to be the third or fourth highest-grossing film in history just to break even.
"The Way of Water" is a clear indication that the justification for completion of the director's vision for the world of Pandora is now undeniably assured and has been given the stamp of approval by enthusiastic fans around the globe," said Paul Dergarabedian, senior media analyst at Comscore.
It is unclear what the film's production budget was, although estimates range from $250 million to $350 million, not including marketing costs.
"The Way of Water" is expected to steadily continue to generate box office receipts as it has no direct competition in theaters until mid-February, when Marvel Studios' "Ant-Man and the Wasp: Quantumania," another Disney production, is released. The film's continued success at the box office is a positive sign for the film industry as it continues to rebound from the pandemic.