Venom: The Final Performance Falls Short as Superhero Movies Lose Their Theatrical Hold

NEW YORK (AP) — The latest entry in the alien symbiote franchise, “Venom: The Last Dance”, opened with a disappointing $51 million over its first weekend, according to estimates released by the studio on Sunday. This figure marks a noticeable decline compared to its predecessors, raising concerns for Sony Pictures.

The initial projections for “Venom: The Last Dance” had suggested an opening closer to $65 million. For context, the first film, released in 2018, launched with a strong $80.2 million, while its 2021 sequel, “Venom: Let There Be Carnage,” opened to $90 million, despite the challenges posed by the pandemic at the time.

Starring Tom Hardy as a journalist who shares his existence with an alien symbiote, which Hardy also voices, the film has a production budget of approximately $120 million, excluding marketing costs. While this is more modest compared to many other superhero films, the lower than expected domestic opening may impact profitability.

On a brighter note, internationally, “Venom: The Last Dance” has performed better, earning $124 million globally over the weekend. This includes about $46 million from its release in China over five days, marking one of the year’s top international openings for a Hollywood film.

Unfortunately, the film has received poor reviews, holding just a 36% rating on Rotten Tomatoes, along with a franchise-low “B-” CinemaScore from audiences. The screenplay was co-written by Kelly Marcel and Hardy, who also directed the film.

The weak weekend performance for “The Last Dance” could contribute to what industry experts predict will be the lowest total box office for superhero films in twelve years, excluding the disruptive pandemic year of 2020. Film consultant David A. Gross anticipates that superhero movies in 2024 will generate approximately $2.25 billion globally. The next superhero release on the horizon is Marvel’s “Kraven the Hunter,” slated for December 13. The franchise’s dominance has waned significantly, with superhero films accounting for over $7 billion in ticket sales in 2018.

In contrast to “Venom: The Last Dance,” last week’s number one film, the Paramount Pictures horror sequel “Smile 2,” fell to second place with a gross of $9.4 million, accumulating a total of $83.7 million worldwide over two weeks.

One standout from the weekend was “Conclave,” a thriller featuring Ralph Fiennes and directed by Edward Berger, best known for “All Quiet on the Western Front.” The Focus Features release generated $6.5 million in its opening across 1,753 theaters, securing third place. This film is gaining traction as an Oscar contender and attracted a mature audience, with about 77% of ticket buyers over the age of 35. Its impressive opening, coupled with positive reviews, suggests that “Conclave” may continue to build momentum both at the box office and during awards season.