Box office estimates are coming in for The Odyssey, and the early math is sharp enough to matter. Deadline reports the film has generated around $15 million in Thursday previews in North America, with the movie launching proper today, July 17. If that holds into the weekend and the film lands within Variety's projected $90-$100 million opening range, it would be among the strongest live-action debuts of the year, even ahead of Michael’s $12.6 million in previews.

That opening-weekend setup is getting extra lift from a very specific kind of theater anxiety: Imax screens. The Odyssey is the first film ever to be shot entirely on Imax 70mm film, and that production choice is driving particular interest from moviegoers in seeing it in theaters capable of showing it at its best. Deadline adds that the previews tally is ahead of Oppenheimer’s ($10.5 million), but behind Nolan’s The Dark Knight Rises ($30.6 million) and The Dark Knight ($18.5 million). In other words, the early signal is positive, but it is not automatically a Nolan launch checklist.

Here is why the Imax angle is not just nerdy film trivia. It changes how audiences decide when to buy tickets. Deadline frames the central box office question as performance in non-Imax theaters. Will people wait for Imax tickets to become available so they can see the movie in a premium format? Or will they adjust their seating choices, holding back on buying seats close to an Imax screen because of neck strain just to catch all the action? Those are not small behavioral questions. They go straight at how many seats the studio can sell in standard auditoriums before curiosity turns into habit.

Then layer in the competitive context. Variety reports The Odyssey has a projected $90-$100 million box office opening weekend in North America. If it manages that, The Odyssey would be Nolan’s biggest debut since The Dark Knight Rises brought in $160 million in 2012. But the bar this year has been unusually high in different ways, and it is not just about Nolan. Only blockbuster animated sequels Toy Story 5 and The Super Mario Galaxy Movie have debuted above $100 million this year, which tells you that a $90-$100 million opening is strong, but it still needs to clear a crowded “expectation ceiling” where the market has already rewarded only a handful of massive tentpoles.

The calendar matters because the engine behind moviegoer demand is not universal. Variety notes that 2023’s Oppenheimer launched to $82 million, powered by the Barbenheimer phenomenon. That matters because it highlights how much opening outcomes can depend on broader cultural hooks, not only filmmaker credentials or format upgrades. The Odyssey does have a headline hook (Homer, star-studded adaptation, and Imax 70mm as the production first), but the market is still asking a narrower question this time: will premium format fandom spill into mainstream theaters, or will it siphon demand rather than expand it?

This is also where the economics get tight. According to Variety, The Odyssey cost $250 million to produce, and Universal is spending around $125 million to promote it. That kind of marketing spend raises the studio’s breakeven pressure. A strong opening weekend helps, but it does not automatically erase the need for a sustained run. With that cost structure, The Odyssey needs a very strong run at the box office to secure a profit, which is why the non-Imax theater question is so consequential. If the film's ticket demand concentrates only in a subset of premium locations, the ceiling for total revenue can shrink faster than expected.

Critically, the early reception at IGN is also part of the decision-making backdrop. IGN’s The Odyssey review returned an 8/10. IGN said: “The Odyssey adapts Homer through a new eye that brings a sense of horror and existential angst to the story - and some humor too. It may not be a perfect movie, but it’s a pretty great moviegoing experience all the same.” That wording matters commercially because it supports the “moviegoing experience” thesis, which lines up with the Imax strategy. It also gives exhibitors a rationale to push premium screens, not just standard ones.

So what should executives and investors watching tentpole performance take away? If you are underwriting a strategy built around a single premium format, the market will test whether format hype expands the audience or merely reallocates it. The Odyssey is currently tracking well in Thursday previews, ahead of Oppenheimer previews and behind earlier Nolan peaks, and it is projected to land in a $90-$100 million opening weekend range. The next move is not just “does it open big,” it is “does it keep selling when the non-Imax seats come into focus,” because profitability depends on sustained box office more than a single headline number.