Cineverse's 'Terrifier 3' Scares Up No. 1 at Box Office Over Holiday Weekend, With $21.4 Million in a Win for Independent Filmmaking
Rhea-AI Summary
Cineverse Corp. (NASDAQ: CNVS) announces a successful opening for Terrifier 3, which earned $21.4 million at the box office over the four-day holiday weekend. The horror sequel, shown in over 2,500 theaters in North America, is Certified Fresh on Rotten Tomatoes with an 89% Popcornmeter audience score and a B CinemaScore. Chris McGurk, Chairman & CEO of Cineverse, hailed the success as a triumph for independent filmmaking, praising the creative team led by filmmaker Damien Leone and producer Phil Falcone. The film's performance surpassed expectations, competing with major studio releases despite being an indie production. McGurk acknowledged the contributions of various partners and agencies in the film's success, emphasizing the fan-centric marketing strategy that focused on digital engagement and community interaction.
Positive
- Strong box office performance: $21.4 million over four-day holiday weekend
- Wide theatrical release in over 2,500 theaters across North America
- Positive critical reception: Certified Fresh on Rotten Tomatoes
- High audience approval: 89% Popcornmeter score and B CinemaScore
- Successful competition against major studio releases as an independent film
Negative
- None.
Insights
The box office success of Terrifier 3 is a significant win for Cineverse (NASDAQ: CNVS), demonstrating the company's ability to produce and distribute profitable independent films. The
This performance could have several positive implications for Cineverse:
- Increased revenue and potential profit from box office sales
- Enhanced brand recognition in the horror genre
- Potential for continued success with future installments or similar projects
- Demonstration of effective marketing and distribution strategies
However, investors should note that single-film successes don't guarantee long-term profitability. It's important to monitor how Cineverse leverages this win to build a sustainable business model in the competitive entertainment industry.
The success of Terrifier 3 highlights several key market trends:
- Strong demand for horror content: The film's performance indicates a robust appetite for horror, particularly during the Halloween season.
- Power of fan communities: The high audience scores (89% Popcornmeter, B CinemaScore) suggest strong fan engagement, which can drive word-of-mouth marketing.
- Digital-first marketing effectiveness: The emphasis on community interaction and viral marketing demonstrates the changing landscape of film promotion.
- Indie film viability: This success challenges the notion that only big-budget studio films can dominate the box office.
For investors, this success story underscores the potential of targeted, genre-specific content and innovative marketing approaches in the evolving entertainment landscape. It also suggests that companies like Cineverse, which can effectively tap into niche markets, may have a competitive edge in the industry.
Horror Sequel Certified Fresh on Rotten Tomatoes and Earns Strong Rotten Tomatoes and CinemaScore Audience Approval
With over 2,500 theaters in
"This isn't just a triumph for Cineverse, it's a victory for independent filmmakers everywhere," said Chris McGurk, Chairman & CEO of Cineverse. "Terrifier 3 shows that with the right creative team and the support of loyal fans, a quality indie film can break the mold and compete with major studio releases. We're beyond thrilled with the reception, and this success proves that Damien and Phil's connection to horror fans is second to none."
McGurk continued by thanking Cineverse's production partners, including Dark Age Cinema and The Coven for creating such an extraordinary film. He commended Iconic Events Releasing for their theatrical distribution efforts, where they outgunned and surpassed much more expensive and heavily marketed competitive films from the major studios. He also acknowledged the strong performance from the marketing agencies that collaborated on the success of the release: Anti Agency Group (media), TriplePlay Studios (viral), Kevin Childress Creative (trailer), Katrina Wan PR (publicity), The Lippin Group (corporate communications) and Insights Theatrical.
"We're overwhelmed and inspired to see fans' passionate support for this truly independent film completely guided by the vision of an amazing and singular filmmaker, Damien Leone — and an incredibly talented cast. Our marketing strategy was fan-centric at its core – digital-first with a heavy emphasis on community interaction, cultural resonance, virality — mixed with fun creative concepts and innovation. We are grateful for the fans and the opportunity to engage with such a strong, enthusiastic audience."
Terrifier 3 opened nationwide on October 11, 2024, just in time for the Halloween season. The film was released by Cineverse and Bloody Disgusting, its horror division, in theaters across
For ticket information, visit terrifier3.com.
ABOUT TERRIFIER 3
After surviving Art the Clown's Halloween massacre, Sienna and her brother are struggling to rebuild their shattered lives. As the holiday season approaches, they try to embrace the Christmas spirit and leave the horrors of the past behind. But just when they think they're safe, Art the Clown returns, determined to turn their holiday cheer into a new nightmare. The festive season quickly unravels as Art unleashes his twisted brand of terror, proving that no holiday is safe.
Starring Lauren LaVera, David Howard Thornton, Elliott Fullam, Samantha Scaffidi, Antonella Rose, Margaret Anne Florence, Bryce Johnson, Alexa Blair, Mason Mecartea, Krsy Fox, Clint Howard, Jon Abrahams with Chris Jericho, Daniel Roebuck, and Jason Patric.
Executive Produced by Lisa Falcone, Brad Miska, Brandon Hill, Yolanda Macias, Erick Opeka, Matthew Helderman, Luke Taylor and Priscilla Ross Smith.
Co-produced by Michael Levy, Jason Leavy, George Steuber, Steven Della Salla, and Jason Milstein.
Written and directed by Damien Leone and produced by Phil Falcone, Terrifier 3 comes courtesy of Dark Age Cinema Productions and The Coven.
TEASER TRAILER: www.youtube.com/watch?v=lYMTzx2Qcmw
OFFICIAL RED BAND TRAILER: www.youtube.com/watch?v=egI9GUIjeYE
ABOUT CINEVERSE
Cineverse's advanced, proprietary technology drives the distribution of over 70,000 premium films, series, and podcasts to more than 150 million unique viewers monthly. From providing a complete streaming solution to some of the world's most recognizable brands, to super-serving their own network of fan channels, Cineverse (NASDAQ: CNVS) is powering the future of entertainment. For more information, please visit cineverse.com.
Contacts:
For Media
The Lippin Group for Cineverse, cineverse@lippingroup.com
For Investors
Julie Milstead, investorrelations@cineverse.com
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SOURCE Cineverse Corp.
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