Tenet is set to open in the U.S. at the beginning of September, following an international rollout. Director Christopher Nolan’s mysterious thriller has long been eyed as the movie that can help get theaters up and running again. Warner Bros. is hoping that will be the case and they are working with exhibitors to make it happen. But the studio is asking for a larger cut of the box office, given the nature of these uncertain times, in addition to other demands.
Warner Bros. recently sent a lengthy email to movie theaters outlining the release plans and expectations for Tenet. Pre-sale tickets are allowed to be sold starting this Friday. Theaters that hope to show Nolan’s latest will need to meet certain guidelines in order to do so. The one that may be most painful is that the studio is taking 63 percent of the ticket sales during the movie’s theatrical run. That is at the very high end of what a studio might typically ask for with a major release. That will eat into the theater’s profits in a big way.
Movie theaters in the U.S., as well as around the world, have suffered immensely this year. Most theaters were shut down by mid-March, resulting in millions in lost revenue. AMC has been on the verge of bankruptcy. Point being, theaters need the money Tenet can bring in. They are just going to be making less of it. But, per Warner Bros.’ email, these are uncertain times that come with risk.
“These special terms are being offered to its exhibitor customers specifically for ‘Tenet’ to address the special circumstances in the market… including the high commercial risk from uncertain consumer demand, reopening rules, health and safety regulations, and socially distancing capacity issues.”
Indeed, there is no telling how robust the box office will be. The studio is rolling the movie out abroad first, which brings with it an increased risk of piracy. There is also no telling how many people will show up even when theaters are open. Not to mention redacted auditorium capacity and increased safety measures, which will have an unknown effect on the box office. Considering that the movie comes with a budget in the $200 million range, and since Christopher Nolan is getting a huge chunk of the box office, it needs to make a lot of money to turn a profit.
Warner Bros. also stated in the email that exhibitors must adhere to all health and safety procedures, in addition to advertising Tenet as much as possible, at no cost to the studio. Plus, there are rules in place for how long the movie must play, depending on the number of screens available. John David Washington, Robert Pattinson, Elizabeth Debicki, Dimple Kapadia, Aaron Taylor-Johnson, Clemence Poesy, Michael Caine and Kenneth Branagh star. Tenet hits theaters in the U.S. in select cities starting September 3. This news comes to us via IndieWire.
