In the world of cinema, North America reigned supreme as the global leader in box office revenue. There were hardly any contenders overseas who could match its might. Even the burgeoning Chinese film industry, which had risen strongly in 2015 and 2016, still had a considerable distance to cover before it could challenge America's dominance. Nevertheless, no profit-seeking film could afford to overlook the international market.
"Avatar" and its staggering $2B in overseas box office earnings remained an unrivaled record in the annals of cinema history to this day. The $1.5B earned by "Titanic" in 1997 in foreign markets was nothing short of a miraculous feat.
Perhaps the box office potential of an individual market couldn't compete with North America, but the combined might of Asia with China, Japan, and South Korea, Europe with Germany, France, the United Kingdom, Russia, and Spain, Oceania with Australia, and South America with Brazil and Mexico held undeniable potential. Together, their international box office revenue had more potential than North America alone.
As of 2017, there were only eight films that had crossed the $500M mark in North America. In contrast, there were a staggering sixty-plus films that had crossed the $1B threshold internationally. That was the disparity.
Therefore, for those blockbuster productions looking to turn a profit, no one would be foolish enough to ignore the international market. To be precise, North America was just one slice of the pie, while the global market had over a dozen pieces. Through staggered release dates, alternate distribution strategies, and rights swaps, major film studios always found a way to cash in on the international market.
Universal Pictures was no exception, and neither was Paramount. The two films that had clashed during the summer season in North America now found themselves in a cross-border duel in the international market.
"Thor" had been released in sixty-four countries and regions outside North America, showcasing the vast audience for comic book superhero films. Its "PG-13" rating advantage was played to the fullest. On the other hand, "Fast 5" showed no signs of weakness. Also rated "PG-13" and relying on the advantage of its predecessors, it successfully screened in sixty-two countries and regions.
Yet, these two films followed different trajectories. Suffering from poor reviews, "Thor" suffered a comprehensive defeat. Its declining performance in North America had spread like a virus, infecting various markets worldwide.
Thanks to Chris Hemsworth's Australian roots, "Thor garnered a massive following in Australia, amassing a total box office of $20M, making it the second-highest earner for the film overseas, trailing only behind the United Kingdom. But even on Australian soil, "Thor" couldn't surpass the success of "Fast 5". It watched helplessly as its direct competitor raked in $30M in its territory. People seemed to have grown accustomed to this pattern, and the failure of "Thor" was no longer a surprise but rather an expected outcome.
What came as a surprise, however, was the third-highest overseas box office earnings for "Thor", which happened to be in Mexico. The film had spent a considerable amount of time shooting on location in Mexico, and this investment was reflected in its box office numbers, a commendable total of $19M.
Unfortunately, when viewed as a whole, the box office performance left much to be desired, with no notable highlights. Even the United Kingdom, the top overseas market, contributed a mere $22M to its total earnings. This disappointment had the major North American media outlets sighing in regret.
Apart from "Spider-Man", the overseas box office for the "X-Men" and "Iron Man" franchises had failed to meet expectations. Films rooted in distinct American culture like comic book superheroes faced certain limitations in their performance overseas. "Iron Man" had managed only $266M in international box office earnings.
In the end, the overseas box office of "Thor" stopped at a modest $230M. This figure was roughly on par with "Iron Man" and did not result in a catastrophic failure. Particularly when compared to North America, there was a noticeable improvement in the box office numbers. Initially, the international box office of "Iron Man" was lower than its North American earnings, and even "Iron Man 2" had only managed to break even. It was clear that the overseas box office potential for comic book heroes had been further explored.
However, for Paramount Pictures, this wasn't good news.
When you combined North American and overseas box office for "Thor", it amounted to only $370M. Considering the $150M budget, it needed at least $400M worldwide to have a chance at profitability, and even that was far from guaranteed. At present, the total box office hadn't even breached the $400M mark, let alone factoring in Paramount's substantial marketing expenses on this project.
A loss.
"Thor" had brought at least $40M in losses to Paramount, and possibly even more. Furthermore, with Disney's acquisition of Marvel, the change in ownership would likely complicate cooperation between Paramount and Disney, two top-tier production companies. The future of the sequel project was suddenly cast in a shadow.
In sharp contrast was the strong performance of "Fast 5".
Two years prior, the fourth installment of the series had achieved remarkable results in overseas box office earnings. Despite a $150M North American performance, its international box office reached $210M. Even when compared to "Iron Man", the gap was not as pronounced as one might imagine, and this fact played a significant role in Universal Pictures greenlighting the fifth installment.
This time, the highly acclaimed fifth installment was making a formidable entrance.
After its premiere, "Fast 5" had effortlessly claimed the top spot in fifty-six countries and regions, securing the weekend box office crown. In forty-three of those regions, it achieved consecutive victories, and it managed a three-peat in twenty-nine areas. Before "Pirates of the Caribbean 4" could sweep the international box office market, "Fast 5" had already established itself as the May box office champion. With three consecutive global box office victories, it basked in unparalleled glory and stood alone at the top!
Ultimately, the top five overseas box office earners for "Fast 5" were the United Kingdom, Russia, Germany, Australia, and Mexico. What was even more remarkable was that the total box office in each of these five regions surpassed $30M. In comparison, the highest overseas box office for "Thor" was only $22M, and the gap was far more dramatic than one could have imagined.
To put it bluntly, in North America, the two films had been somewhat "closely" matched for some time. However, in the overseas market, "Thor" had never stood a chance. There hadn't been a glimmer of hope. This was the real disparity in performance.
Among the five regions with $30M box office earnings, the birthplace of Chris Hemsworth, Australia, had become the box office champion without question. Universal Pictures had seized the right moment, altering their promotional strategy to focus on Australia's native son, Thor. From trailer editing to poster selection and even subtitle arrangements, Thor played a central role in the campaign. This strategy successfully pushed the Australian box office past $39M.
"Renly Hall", this name rapidly spread throughout England, marking the emergence of a potential box office giant among the new generation of British actors. It was well-known that England had a strong tradition of stage actors, impressively skilled in their craft. But in terms of box office superstars, the younger generation had faced a gap for quite some time. This was indeed cause for excitement among many British media outlets.
However, for some, this was not good news. To be more precise, it was a shameful revelation.
Apart from this, "Fast 5" also secured $20M level total box office earnings in France and Brazil, with Brazil's outstanding performance being especially remarkable. It had not disappointed the production team after their grueling one-and-a-half-month shoot in Rio de Janeiro; additionally, Japan, Italy, South Korea, and Taiwan all crossed the $10M mark, presenting a strong and diverse performance on a global scale.
It's worth noting that, for the time being, China had not seen releases of both "Fast 5" and "Thor". This market, brimming with untapped potential, remained dormant, silently awaiting the day of its explosive awakening.
In the end, "Fast 5" stormed the international market with a formidable $530M in box office earnings. Even with everyone mentally prepared, seeing such a result still took their breath away. Compared to the fourth installment of the series, the increase was even more dramatic, jumping from $200M to $500M levels. This was not merely an excellent performance; it could even be considered a box office behemoth.
To put things in perspective, even the "Iron Man" series had only reached the $300M level in international box office earnings. However, the real money-maker for comic book adaptations and superhero movies was the surrounding content and the vast Marvel Universe, something that the "Fast & Furious" series couldn't compete with.
Now, "Fast 5" had achieved a powerful performance of $300M in North America and $500M overseas, totaling a staggering $845M worldwide. It had catapulted itself into the ranks of top-tier blockbusters, rivaling even the "Pirates of the Caribbean" series. Who could have foreseen such a development on the year-end box office charts before the summer season?
As Renly Hall's first commercial film, "Fast 5" demonstrated its formidable box office potential, becoming the hottest topic of the summer. Despite being the third lead, it garnered endless attention and acclaim, winning the hearts of critics and audiences alike. Moreover, no one should forget Renly Hall's debut film.
"Buried", which had just been released in the first week of April, was still fresh in memory. This film had been made with a budget of only $3M, but it had achieved outstanding results with $52M in North America and $65M overseas, ultimately reaching a mind-boggling $117M in global box office earnings. It was unquestionably one of the highest return-on-investment films of the year.
Unlike "Fast 5", "Buried" was a solo act for Renly Hall. A standalone piece and a commercial blockbuster, these two films had separately written their own box office miracles. For the general audience, the name "Renly Hall" was evolving into something with its own unique charm. So, what would the next project be?
Many had already shifted their gaze toward "50/50", a comedy collaboration with Seth Rogen. Perhaps it would turn out to be another box office monster. So, what would be the right salary for Universal Pictures to secure Renly Hall for their next project?