In the wake of the Covid pandemic, studios began to realize the irreplaceable value of theatrical releases. While the day-and-date model provided a temporary solution when cinemas were closed, the long-term profits associated with theatrical releases and downstream revenues became evident. The theatrical release not only serves as a marketing tool but also enhances a movie’s longevity in subsequent home entertainment windows. As the industry entered 2023, streamers like Apple acknowledged the importance of theatrical releases in eventizing their films. The financial data compiled for Deadline’s Most Valuable Blockbuster Tournament is sourced from seasoned and reputable industry experts.
Universal’s feature adaptation of the popular video game “Five Nights at Freddy’s” proved to be a surprise hit at the box office. Despite a challenging fall box office season, Universal defied expectations by releasing the film theatrically day-and-date on Peacock. The horror flick, produced by Blumhouse, achieved a remarkable $80 million opening weekend in the US, equivalent to some of Universal’s most successful films. The global debut amounted to $131 million, making it a standout success story in the industry.
An Unexpected Triumph
The success of “Five Nights at Freddy’s” caught many by surprise, including the studio itself. While certain tracking organizations had predicted a strong opening, the film exceeded all expectations. The unique blend of horror elements and the intriguing premise of the narrative resonated with audiences, propelling the movie to unprecedented heights. Despite the challenges posed by day-and-date releases, “Five Nights at Freddy’s” emerged as an exception to the rule, showcasing the potential of a well-crafted theatrical release strategy.
The Art of Marketing
Leading up to the release of “Five Nights at Freddy’s,” Universal invested heavily in marketing and promotional efforts. The authenticity of the film’s characters and storyline was crucial in attracting fans of the original game. Attention to detail, such as replicating the appearance of the animatronic animal characters from the game, added to the immersive experience for viewers. The involvement of the game’s creator, Scott Cawthon, in the adaptation process further solidified the film’s connection to its dedicated fan base.
While the theatrical day-and-date release of “Five Nights at Freddy’s” was a commercial triumph, some potential revenue opportunities were left untapped. The absence of an Imax release over the opening weekend led to a missed opportunity of $5 million to $10 million in additional earnings. However, the film’s success in driving subscriptions to Peacock, Universal’s streaming platform, mitigated some of these financial concerns. The impressive social media reach and engagement metrics further underscored the film’s resonance with audiences, contributing to its overall success.
At the core of “Five Nights at Freddy’s” success lies a combination of strategic marketing, creative storytelling, and a deep understanding of audience preferences. The film’s unexpected journey from a stalled Warner Bros. project to a record-breaking Universal release serves as a testament to the industry’s ability to adapt and innovate in response to changing market dynamics. As studios continue to navigate the evolving landscape of theatrical and streaming releases, the legacy of “Five Nights at Freddy’s” stands as a shining example of the enduring power of cinema to captivate and entertain audiences worldwide.