Hollywood’s summer movie anxieties turned into jubilation this past weekend with the remarkable debut of Disney and Pixar’s “ Inside Out 2.” The sequel to the animated film raked in $155 million in ticket sales from 4,440 theaters in the U.S. and Canada, as per studio estimates Sunday.
This marks the second-highest opening weekend in Pixar’s history spanning 29 years, only behind the $182.7 million opening of “Incredibles 2” in 2018. It also holds the title for the second-biggest animated movie debut ever. Additionally, it has the honor of being the biggest opening of 2024, surpassing even “Barbie.” With an estimated $140 million from international screenings, “Inside Out 2” set a new global start record with a staggering $295 million worldwide earnings.
Tony Chambers, Disney’s head of theatrical distribution, expressed optimism regarding the film’s performance. However, even he was surprised by how much it surpassed the already high expectations.
Chambers commented, “People flock to theaters for exceptional movies. The reviews and positive word of mouth significantly contributed to the momentum. It has become somewhat of a phenomenon.”
Notably, “Inside Out 2” attracted audiences of all ages and demographics, underlining the importance of appealing to diverse viewers post-COVID for achieving breakout success.
The success of “Inside Out 2” is crucial for Pixar, signifying a much-needed return to form for the studio following a series of lackluster releases like “ Elemental” and “ Lightyear.” It also holds significant importance for the broader Hollywood ecosystem and the health of theatrical exhibition, which had been operating at a 26% deficit.
Chambers stated, “This success has positive implications across the entire industry. It’s a win for Pixar, a win for business overall, and a win for the industry at large.”
Prior to “Inside Out 2,” Disney had already experienced a successful summer with “Kingdom of the Planet of the Apes,” which held the third spot in its sixth weekend with $5.2 million (bringing its global total to $374.5 million). Up next is “ Deadpool & Wolverine” (July 26).
Directed by Kelsey Mann, “Inside Out 2” picks up as Riley turns 13, introducing new emotions like Anxiety (Maya Hawke) and Envy ( Ayo Edebiri ) to Joy’s (Amy Poehler) party. The film received glowing reviews from critics (92% on Rotten Tomatoes) and garnered an A CinemaScore from audiences, suggesting longevity beyond the first weekend. Positioned amidst children’s summer break with no major releases until “Despicable Me 4” later in July, “Inside Out 2” has a promising future.
Paul Dergarabedian, Comscore’s senior media analyst, remarked, “This weekend marks a monumental moment for movie theaters.”
Estimated to have a production cost of around $200 million, “Inside Out 2” did not account for marketing expenses. Initially projected to debut in the $90 million range, the film’s performance far exceeded expectations. Even a $90 million opening would have been commendable, securing the position of the year’s biggest opening and surpassing releases like “ Dune: Part Two” and “ Godzilla x Kong” released earlier in the year.
For the theatrical sector that is eager for a rebound, this weekend serves as a pivotal turning point in 2024, emphasized Daniel Loria from Boxoffice Pro. “This weekend is what we’ve been waiting for,” he added.
Embracing a renewed focus on theatrical releases, “Inside Out 2” had a notable presence with screenings across 400 IMAX screens, 900 “premium large format” screens, and over 2,500 3D screens.
This commitment to theatrical releases follows Disney’s decision to direct several Pixar films to its streaming platform, Disney+, during the pandemic, including titles like “Soul,” “Luca,” and “Turning Red.” Last month, the New York Times reported on Pixar’s strategic shift back to feature films and the associated layoffs affecting 14% of its workforce (equivalent to about 175 employees).
Dergarabedian reflected, “For Pixar, this weekend is of immense significance. Since the pandemic, they’ve been striving to regain their momentum. And they have certainly made a strong comeback.”
In second place was Sony’s “ Bad Boys: Ride or Die, ” in its second weekend with $33 million, showing a mere 42% drop from its opening weekend. With over $112 million in domestic earnings and $214 million globally within 12 days, the franchise has crossed the $1 billion mark as of Friday.
The success of “Bad Boys” last weekend marked the beginning of a more prosperous summer movie season. Traditionally, the summer season from the first weekend in May through Labor Day represents approximately 40% of the annual box office revenue. Though a deficit remains significant with a 28% drop in ticket sales for the summer and 24% for the year (prior to “Barbenheimer”), the progress indicates a more hopeful direction.
Dergarabedian concluded, “Recovery won’t be immediate, but this is positive news for theaters, and we have several big releases on the horizon.”
At cinemas, theater operators witnessed a revitalization over the weekend.
Jeff Whipple, a vice president at Megaplex Theaters, described the atmosphere as “magical.” Families of various generations have gathered to experience the movie together, engaging in conversations post-screening. Children are excitedly capturing images of “Despicable Me 4” promotional materials, while parents are noting the upcoming “Deadpool & Wolverine” release date.
Whipple added, “I believe word of mouth will continue to spread, attracting more audiences to theaters throughout the summer.”
Based on estimated ticket sales from Friday through Sunday at U.S. and Canadian theaters, here are the standings according to Comscore. Final domestic figures will be released Monday.
1. “Inside Out 2,” $155 million.
2. “Bad Boys: Ride or Die,” $33 million.
3. “Kingdom of the Planet of the Apes,” $5.2 million.
4. “The Garfield Movie,” $5 million.
5. “The Watchers,” $3.7 million.
6. “IF,” $3.5 million.
7. “Furiosa: A Mad Max Saga,” $2.4 million.
8. “The Fall Guy,” $1.5 million.
9. “The Strangers: Chapter 1,” $760,000.
10. “Lord of the Rings: The Fellowship of the Ring,” $632,910.
