Netflix Breaks Silence on Box Office with 'La Bola Negra' Debut

Key points

• Netflix disclosed box office figures for the first time, reporting 'La Bola Negra' earned $277,500 from four U.S. theaters.
• The film achieved the second-highest per-screen average for a non-English language movie, behind 2019's 'Parasite.'
• Netflix plans a 45-day theatrical window for 'La Bola Negra' before its streaming release on December 2.
• The move comes amid Netflix's recent layoffs, including the departure of Chief Content Officer Bela Bajaria, and stock price declines.
• Future titles like David Fincher's 'The Further Mis-Adventures of Cliff Booth' and Greta Gerwig's 'Narnia: The Magician's Nephew' will also have box office reporting.

Background

Netflix has historically avoided disclosing theatrical revenue, viewing multiplexes as marketing stunts rather than financial strategies. The streamer has recently warmed to theaters, with token releases for 'Glass Onion' and 'Kpop Demon Hunters,' but never disclosed grosses. The shift comes as Netflix's stock has languished, and the company laid off 1,000 employees, replacing Chief Content Officer Bela Bajaria with Disney veteran Peter Rice. 'La Bola Negra' is positioned as a primary challenger to Christopher Nolan's 'The Odyssey' for the Best Picture Oscar, having won the Toronto International Film Festival People's Choice Award and the Cannes Best Director prize.

How outlets are covering it

Variety emphasizes the historic nature of Netflix's first box office report and the film's strong per-screen average, noting it as a test for future releases. The Los Angeles Times highlights the film's performance in the context of Netflix's recent layoffs and stock price declines, framing the move as a response to shareholder pressure. Deadline focuses on the film's strong audience reception and the strategic importance of box office reporting for future titles, while IndieWire analyzes the broader implications of Netflix's shift, noting that the move may be driven by the need to secure star talent and navigate changing windowing standards. All sources agree on the significance of the move, but differ in their emphasis on the financial, strategic, and cultural implications.

Why it matters

Netflix's decision to report box office grosses marks a significant shift in its theatrical strategy, potentially impacting how the streamer approaches future releases and its relationship with exhibitors. The move could also influence the broader industry's approach to theatrical releases and windowing standards, as Netflix seeks to balance its streaming and theatrical strategies. The film's strong performance may also impact its Oscar prospects, as box office success can influence Academy Awards attention.

What to watch

Netflix plans to expand 'La Bola Negra' to as many as 300 theaters in the coming weeks, with a wider release on November 6. The streamer will continue to report box office grosses for future titles, including 'The Further Mis-Adventures of Cliff Booth' and 'Narnia: The Magician's Nephew.' The film's performance will be closely watched as a test case for Netflix's new theatrical strategy, and its impact on the company's stock price and subscriber growth will be monitored.