‘You Can See Everything’ Passes Michael Jackson and Justin Bieber as the Elizabeth Holmes Doc Joins Box Office Royalty

Lionsgate Films / A24

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A24’s Elizabeth Holmes documentary ‘You Can See Everything’ has had one of the most unlikely box office runs of the year. Nathan Fielder and Lance Oppenheim directed the nearly 3-hour film, which captures the Theranos founder in the 34 days before she reported to prison. Nobody knew the project existed until its surprise world premiere at the Telluride Film Festival in early September.

Its theatrical run has grown every step of the way. The film opened to $15.6 million from just 855 theaters, the biggest debut for a documentary since ‘Fahrenheit 9/11’ in 2004. It then rose 25% to $19.5 million in its second weekend and claimed No. 1 over Halloween weekend, edging out DC’s ‘Clayface’.

Now the doc has moved into a whole new tier. It grossed an estimated $2.6 million on its 4th Friday, the biggest 4th Friday ever for a documentary, which pushed its domestic total to $73.5 million. That puts it ahead of ‘This Is It’, Michael Jackson’s concert film, which grossed $72.1 million, and ‘Justin Bieber: Never Say Never’ at $73 million, so it now ranks among the 5 biggest documentaries ever in North America.

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The size of the Friday gross isn’t the only impressive number. The doc fell just 28.2% from the previous Friday even though it lost 770 theaters and is now playing in 2,473. It also beat ‘Fahrenheit 9/11’, which made $2 million on its own 4th Friday.

Box office trackers have noticed. Deadline now estimates a 4th weekend of around $7.8 million, down 32%, and says some now think the documentary has a shot at $100 million in the US. Koimoi reports the A24 hit is expected to finish its domestic run somewhere between $90 million and $100 million.

The next record is about to fall. ‘March of the Penguins’ ended its US and Canada run with around $77.4 million, and Deadline expects the Holmes doc to pass it this weekend. By the end of Sunday, its running total is projected to reach $78.7 million.

That would move ‘You Can See Everything’ up the all-time chart again. Before the music films were included, it already sat in the top 3 of non-music documentaries, behind only ‘Fahrenheit 9/11’ and ‘March of the Penguins’. It’s now on track to leave only Michael Moore’s film ahead of it on that list.

Part of the story is how cheap the film was to make. A24 produced it for $7 million, which makes this run hugely profitable for the studio. Variety pointed to euphoric word of mouth and repeat viewings from audiences trying to process the stranger-than-fiction film.

Social media also played a big role. A trailer moment became a meme, with Holmes staring at Fielder and asking, “Why would I deceive you?” Deadline compared the online fan frenzy to the run-up to ‘Barbie’, noting that the opening weekend brought 2,000-plus sellouts and lines around the block.

Critics have been just as enthusiastic. The documentary debuted with a 4.7 rating and became the highest-rated feature film on Letterboxd, and TechCrunch reported scores of 99% on both Rotten Tomatoes and Metacritic. Amanda Seyfried, who played Holmes in ‘The Dropout’, has even sparked awards chatter of her own with a surprise cameo.

The box office success has pushed the film into the awards race. IndieWire has asked whether the run could carry Fielder and Oppenheim into the Oscars, and noted that it could become the first documentary ever nominated for Best Picture.

Either way, it has already gone far past ‘Melania’, which had been the year’s highest-grossing doc at $16.3 million. The film is also only just starting to reach audiences overseas. It opens in Australia and New Zealand on November 12, followed by the UK on November 20.

Do you think You Can See Everything will reach $100 million at the domestic box office?

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