Christopher Nolan has opened up for the first time about how 'Tenet' performed at the box office.
The latest from the director wound up grossing $347.1 million worldwide in two months against a $200 million budget.
However the marketing costs Warner Bros. sunk into promoting the movie means it is unlikely it broke even.
While some outlets have speculated that 'Tenet' lost as much as $100 million, insiders at Warner Bros. dispute that number. They believe losses won’t exceed $50 million.
Nolan said he was "delighted" with the success the movie had, in spite of difficulties arising from the pandemic.
It's also worth noting that it was released when cinemas in LA and New York, two big markets, remain closed.
In an interview with the Los Angeles Times to promote his involvement in Tom Shone’s new book 'The Nolan Variations', he stated: "Warner Bros. released ‘Tenet,’ and I’m thrilled that it has made almost $350 million."
Moreover, the director noted that studios were drawing the wrong conclusions from the performance of the feature.
Following the release of 'Tenet', a number of major movie releases were postponed even later than before.
Christopher Nolan said: "I am worried that the studios are drawing the wrong conclusions from our release — that rather than looking at where the film has worked well and how that can provide them with much needed revenue, they’re looking at where it hasn’t lived up to pre-COVID expectations and will start using that as an excuse to make exhibition take all the losses from the pandemic instead of getting in the game and adapting — or rebuilding our business, in other words."
He added: "To me, it’s much more about: What’s the new reality we’re living in?
"Long term, moviegoing is a part of life, like restaurants and everything else. But right now, everybody has to adapt to a new reality."