'Black Panther: Wakanda Forever' is 'a potential momentum builder' for theaters: Analyst

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"Black Panther: Wakanda Forever" is set to make its much-anticipated debut in the U.S. this weekend after grossing $28 million in Thursday previews and $10.1 million from 17 foreign markets on Wednesday, excluding China and Russia.

The upcoming sequel from Marvel is expected to generate between $170 million to $205 million in opening weekend ticket sales, according to Box Office Pro, when it debuts at more than 4,300 domestic theaters, including 400 IMAX locations.

The original "Black Panther" generated $25 million in Thursday night previews before going on to secure $202 million in its domestic opener in 2018. The film finished its theatrical run at $700.1 million domestically and $1.35 billion globally.

"This is a potential momentum builder that I think theaters and studios have been counting down the days to," Box Office Pro Chief Analyst Shawn Robbins told Yahoo Finance, citing the recent lull in the Hollywood pipeline.

"Black Panther: Wakanda Forever" (Courtesy: Marvel Studios)
"Black Panther: Wakanda Forever" (Courtesy: Marvel Studios)

IMAX (IMAX) CEO Richard Gelfond added that the industry is depending on the film to deliver after the company reported disappointing earnings results in the third quarter, largely due to the lack of new content.

"IMAX is in the blockbuster business and a small number of movies make or break our year," Gelfond told Yahoo Finance Live. "We're counting on this period to really provide jet fuel to our company."

Robbins explained that the sequel's opening weekend results will depend on a variety of factors, including reviews (which have been strong so far), the Veterans Day holiday on Friday, and the film's longer run time of 2 hours and 41 minutes.

The untimely passing of Chadwick Boseman, who does not appear in the sequel, also remains a key swing factor, especially for the more casual viewer.

"What is that anticipation level now for the more casual moviegoers who saw the first 'Black Panther' and loved him as that character?" Robbins said. "That's one thing I'm looking at — the knowledge that he's not in the sequel, and how that character and franchise can move forward without him."

WASHINGTON, DC - AUGUST 31: A view of the Chadwick Boseman memorial at Howard University on August 31, 2020 in Washington, DC. (Photo by Brian Stukes/Getty Images)
A view of the Chadwick Boseman memorial at Howard University on August 31, 2020 in Washington, DC. (Photo by Brian Stukes/Getty Images) (Brian Stukes via Getty Images)

The analyst added that "Wakanda Forever" has the opportunity to extend beyond just the core Marvel fanbase, with Robbins noting the film's cultural significance.

"'Black Panther' was famously the first major black superhero and now, with a predominantly black cast again for the sequel, that's very important," Robbins said. "We can't underestimate how much that will extend beyond just the usual Marvel fans that show up and what that means for diversity and for the moviegoing population."

After "Wakanda Forever," the next big movie on tap is James Cameron's "Avatar: The Way of Water" (rolling out Dec. 16), which, according to Robbins, will set theaters up for a strong sprint into 2023.

Disney's 'Avatar' (Courtesy: 20th Century Studios)
Disney's 'Avatar' (Courtesy: 20th Century Studios)

"At that point, when the calendar rolls over, things start to look a little more normal," he said. "There might be a few slow spots in January, but they're not going to compare in any way, shape, or form to how slow things were last winter."

Gelfond struck a similar, optimistic tone when it comes to "Avatar's" upcoming debut, referencing the original's stunning performance 13 years ago.

"[Avatar] is still our biggest grossing movie of all time," the IMAX CEO said, noting that IMAX theaters have only grown since that time. "It's a different game for us, and I think the fourth quarter is going to demonstrate people coming back to the movies in fairly large numbers."

Alexandra is a Senior Entertainment and Media Reporter at Yahoo Finance. Follow her on Twitter @alliecanal8193 and email her at alexandra.canal@yahoofinance.com

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