'You Can See Everything' Achieves Major Box Office Feat
Nathan Fielder's film focusing on Theranos founder Elizabeth Holmes, accomplishes the most successful opening weekend for a non-concert documentary since 2004. And that's not all.
You Can See Everything was expecting about $7 million for its opening weekend, which would have been remarkable for a documentary, especially one that doesn’t involve music or capture a wildly popular concert. Not to mention, this one runs at nearly three hours and wasn’t on anyone’s radar until two months ago. But actually took $15 million, reports Variety.
After a surprise world premiere at Telluride Film Festival, You Can See Everything became a word-of-mouth sensation, bolstered by some of the best reviews of the year. A24, which produced the movie in secret over three years for roughly $7 million, reported more than 2,000 sold-out screenings as audiences rushed to theaters to avoid spoilers on the stranger-than-fiction story about the Theranos founder before she began an 11-year prison sentence for defrauding investors. People are clearly captivated by the drama surrounding Holmes, whose rise and spectacular fall from grace was depicted in the Hulu series The Dropout, starring Amanda Seyfried.
Theranos claimed it had invented a revolutionary blood-testing technology that could perform hundreds of clinical tests - ranging from simple cholesterol checks to complex disease diagnoses - using only a tiny drop of blood obtained via a simple finger-prick. The company raised approximately $1.3 billion in total funding over the course of its history. Major high-profile investors included the Walton family (Walmart heirs) who pumped $150 million (largest individual investor group) into the fraudulent enterprise, whilst Rupert Murdoch invested $125 million. The media mogul later sold his shares for $1. At its peak in 2013 - 2014, the company achieved a valuation of around $10 billion before investigations by the Wall Street Journal exposed widespread fraud and led to its total dissolution.
Around 70 percent of opening weekend crowds were under 35 years old, and they liked what they saw onscreen. According to exit polls, 90 percent of ticket buyers would “definitely recommend” the film, and 80 percent said it was “even better than expected.” Experts say that these reactions indicate a long theatrical life for the movie, which is being rolled out across the USA in the weeks to come.
“This is a giant weekend for the genre,” says analyst David A. Gross, who publishes the box office newsletter FranchiseRe. “Documentaries rarely receive a wide release - there’s only one every other year - and they average $3 million over their first three days.”
So, finally, at least one enterprise is making money out of Theranos.
