“You Can See Everything” remained a box office staple, raking in a remarkable $19.5 million from 2,655 theaters in its second weekend – a notable increase in ticket sales since its big opening.
A24’s buzzy documentary about Theranos fraudster Elizabeth Holmes has grossed $45.1 million domestically to date and will be very profitable for the studio on a meager $7 million budget. With electric word of mouth, awards chatter and repeat viewings from audiences trying to make sense of what they saw on screen, the film is expected to remain a big screen hit well into the fall. It’s poised to hit theaters as one of the greatest non-music documentaries of all time, quite an achievement for a nearly three-hour film that was only announced a month before its theatrical release. Currently, Michael Jackson’s “This Is It” is the highest-grossing documentary of all time, grossing $267 million in 2009, not adjusted for inflation. Meanwhile, Michael Moore’s “Fahrenheit 9/11” is the biggest non-music documentary with $222 million in 2004, followed by two nature films, “March of the Penguins” with $127 million in 2005 and “Earth” with $107 million in 2007. “You Can See Everything” must become a hit overseas to crack the top five.
After a strong second weekend in North America, here are four takeaways from the surprise success of “You Can See Everything.”
Restrictions supported demand
A24 has begun rolling out “You Can See Everything” to 855 theaters, a huge footprint for a documentary. (For comparison, Bleecker Street released “Musk,” a four-hour look at the world’s richest man, in four different locations.) The film opened to $15.6 million — thanks to more than 2,000 sold-out screenings — as moviegoers rushed to theaters to avoid spoilers; The stranger-than-fiction story follows Holmes just before she begins her 11-year prison sentence for defrauding investors. The decision to release the film in a moderate release – rather than limited to a handful of theaters or nationwide on more than 2,000 screens – proved wise because the studio was able to build awareness while cultivating a sense of scarcity. (In New York and Los Angeles, good luck seeing the film on its first weekend in theaters if you haven’t purchased a ticket path in advance.) Then, ticket sales soared 28% as “You Can See Everything” expanded to 2,666 theaters in its second weekend, underscoring the film’s true commercial viability beyond the coasts.
“Opening ‘You Can See Everything’ in 855 theaters was a very smart move, allowing the film to establish itself and gain momentum before expanding much more widely,” says Paul Dergarabedian, Rentrak’s market trends manager. “The fact that we see a documentary generate such a significant increase in the second weekend is remarkable.”
The secrecy around the project has fueled anticipation
No one knew “You Can See Everything” existed until its surprise world premiere at the Telluride Film Festival in early September. (It’s nothing short of a miracle in Hollywood, where even your waiter knows your P&A expenses.) In the quaint Colorado mountain town, the film became a word-of-mouth sensation after garnering near-euphoric reviews. Shrouding the film in secrecy became an effective marketing tactic. After all, there’s no shortage of movies and TV shows about Holmes. His rise and spectacular fall were depicted in the Hulu series “The Dropout,” starring Amanda Seyfried, as well as Gibney’s “The Inventor: Out for Blood in Silicon Valley.” But the immediate feeling around “You Can See Everything” was that co-directors Nathan Fielder and Lance Oppenheim had captured something very, very different. (And many thought Holmes had met his match in Fielder, a master of gritty comedy best known for HBO’s “The Rehearsal.”)
“Keep in mind, the project started without a plan or script for how to tell this story,” says analyst David A. Gross, who publishes the FranchiseRe box office newsletter. “A24 invested in an interesting but complicated idea, with no beginning, middle or end. It turned into a zeitgeist film about money, dreams, truth and reality.”
Word of mouth boosted ticket sales during the film’s second weekend
“You Can See Everything” jumped in its second weekend because it had quality that lived up to the hype. About 90% of first-time ticket buyers said they would “definitely recommend” the film and 80% said the film was “even better than expected,” according to exit polls. On social media, people who saw the film encouraged others to go to packed theaters so they could share with others the wild reactions and insane twists of the story. From “Michael” to “Obsession” to “The Odyssey,” there’s at least one thing many of this year’s box office hits have in common: They’re fun to watch with crowds.
Young audiences are celebrating on A24
About 70 percent of opening weekend ticket buyers were under 35, a surprisingly young turnout for a nonfiction film. However, that’s not surprising for A24, which has cultivated a young, loyal demographic over the years through aesthetically edgy arthouse favorites like “Marty Supreme” and “Everything Everywhere All at Once.” This year’s lineup, “The Drama,” “Backrooms” and “Primetime,” also made an impact at the indie studio after reaching Gen Z event status. That’s not to say they’ll show up for Nothing of the A24. Chris Rock’s Hollywood comedy-drama “Misty Green” and Hugh Jackman’s revisionist adventure “The Death of Robin Hood” are two recent A24 releases that missed their theatrical run.
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