'M3GAN' Challenges James Cameron: Here's What A Strong 2023 Box Office Debut Looks Like

Two movies grossing over $30 million is a great way to start the 2023 box office. Led by the continued strong performance of 'Avatar: The Way of Water' (Disney) and the title Blumhouse Prods' inventive horror "M3GAN" (Universal), first weekend of the year achieved something that's only happened four times in 2022. (And all of them were in June and July).

Other positive signs include stronger-than-normal holds for a post-holiday weekend when revenue typically dips. Add a better than expected performance of "A Man Called Otto" (Sony) in its initial expansion. After a dismal Christmas, the improvement is welcome.

This weekend totaled approximately $106 million, up from last weekend's low of $103 million for its date. Also encouraging: in the first eight days of the year, the total box office in the United States and Canada is approximately $216 million. This is 44% more than between January 1 and January 8, 2022.

"M3GAN", with excellent reviews and an adequate B Cinemascore (good for a horror movie), was expecting $25 million at best. Instead, at $30.2 million, it opened a third better than “Smile” (Paramount), similar to “Scream” (Paramount) a year ago, better than “Black Phone” and more double that of "Violent Night" (both also from Universal).

It should be noted that its Saturday turnover increased by more than 25% compared to Friday, without adding any preview turnover. It's very rare for genre films, and a sure sign of excellent word of mouth. This suggests the real potential of becoming the first $100 million release of the year.

Behind the scenes of "Avatar: The Way of the Water"

Walt Disney Studios Motion Pictures/Courtesy Everett Collection

"The Way of Water" grossed $45 million over the weekend to retain the top spot, falling just 33% on a weekend that included a Sunday boosted by New Year's Day. Its domestic total of $516 million (over $1.7 billion worldwide) shows major post-holiday strength.

“A Man Called Otto,” which grossed just $85,000 in its first week with four top dates, grossed $4.2 million from 637 theaters to hit #4. This significantly outpaces “The Fabelmans” (Universal) in its five-screen platform expansion over the five-day Thanksgiving weekend. Steven Spielberg's film got rave reviews, which "Otto" didn't. Sony has yet to provide a Cinemascore, but its slight rise on Saturday could be a positive sign for...