How Movies Make Money After Leaving Theaters: The Economics of a Film on Streaming

This essay was originally published in Stat Significant, a weekly newsletter featuring data-centric essays about movies, music, and TV.

Intro: Art and Commerce

Most movies are privately financed, creating a constant tug-of-war between art and commerce. Some projects lean toward the commercial — think Marvel, music biopics, lega-sequels, or anything starring Vin Diesel. Others skew toward the artistic, often marked by 20-minute film festival standing ovations. But once in a while, a film strikes a rare balance: offering big-budget spectacle that earns critical praise, delights general audiences, and elicits extended applause from festival-clappers. These are the unicorns of modern cinema — Poor Things, Oppenheimer, Barbie, Everything Everywhere All At Once, and most recently, One Battle After Another.

Yet the extent to which One Battle After Another balances art and commerce is of great debate (at least online). The film currently holds a 95% on Rotten Tomatoes, is the frontrunner for Best Picture, and is projected to earn around $200 million globally by the end of its theatrical run. The catch? With a…