Elizabeth Holmes’ Theranos documentary makes $15 million with fewer than 900 screens, outperforms ‘Melania’; here’s why it’s a hit

The former founder of the blood-testing startup Theranos, Elizabeth Holmes, known for being involved in scandals, is now the star of a documentary which has managed to have one of the biggest box office openings for a documentary film in the last two decades. The documentary film titled "You Can See Everything" is directed by Nathan Fielder and Lance Oppenheim.

The two and a half hour film has succeeded on its opening weekend beyond expectations by being a documentary that is out of the ordinary.

As per CNN’s article on the opening of the movie in terms of box office performance, according to the distributor, A24, this was one of the biggest limited release openings of the 21st century. It only had less than 900 screens to play on; this is far less than what movies have in the way of locations for screening.


The success of the movie is also a puzzle to be solved by the movie industry. How come the success of a documentary that talks about a convicted corporate fraudster is so great when most of the movies depend on thousands of theaters to pull crowds?

A limited release delivers an extraordinary opening weekend

You Can See Everything earned an estimated $15 million in ticket sales over its opening weekend, finishing second at the North American box office, according to CNN.

The film played on approximately 855 screens, while Paramount’s video game adaptation Street Fighter debuted on 3,575 screens and took the top position with around $30 million in domestic ticket sales, CNN reported.

The difference in theatrical reach makes the documentary’s performance particularly striking.

Furthermore, this is the highest box-office debut ever recorded by a movie opening in under 1,000 theaters after the movie Borat was released in 2006.

This is the greatest opening ever recorded by a documentary that is not a musical since Michael Moore’s Fahrenheit 9/11 was released in 2004, making about $24 million.

As stated by CNN’s coverage of the box-office, the success of the movie was accomplished despite its three-hour length and small theater release. The movie’s reception indicates that the audience was ready to take their time in watching the story, which was famous even before the movie came out in theaters.

Why Elizabeth Holmes remains a compelling documentary subject

Theranos, which was started by Holmes, became a significant player in the technology sector because it purported that it was able to run many medical tests using very little blood. The company raised a lot of money and attracted many people due to the claims that it made concerning its technology.

Holmes was found guilty of committing wire fraud and conspiring to defraud Theranos investors. Even though Holmes faced criminal charges, she still maintains that she is innocent of all the accusations.

The new documentary approaches that history from an unusual perspective.

Fielder and Oppenheim spent years developing the project in secrecy, filming Holmes and her partner, Billy Evans, during the weeks leading up to her imprisonment in 2023, CNN reported.

Rather than simply revisiting the rise and fall of Theranos, the filmmakers put Holmes herself at the centre of the story.

Fielder also appears on camera, interviewing Holmes and Evans, with the film moving beyond the format of a conventional business investigation.

That access enables viewers to see Holmes outside the courtroom and media scrutiny following the Theranos scandal. Her attempts to convince the filmmakers of her innocence are yet another aspect of the story where issues of credibility, ambition, and accountability play a key role.

In its review of the documentary, CNN praised its unique approach to the scandal, one that has set it apart from other stories on the topic.

Strong reviews put the film ahead of other documentaries

Critical enthusiasm has helped sustain interest in You Can See Everything. The film earned a 99% score on Rotten Tomatoes, according to CNN’s coverage, while its unusual storytelling has generated considerable discussion among critics and moviegoers.

The documentary’s opening also outperformed Melania, Amazon MGM’s film about first lady Melania Trump.

The documentary had twice as many screens to launch on but opened with revenues of only $7.1 million, just less than half the expected opening for the Holmes movie, CNN noted.

This example shows the uncertain nature of documentary box-office success. A recognizable personality and an important distributor will not ensure a huge audience, whereas an unusual film can draw crowds with an interesting topic and approach.

The film’s initial success could also help it reach audiences beyond the cities where its first screenings sold out.

According to CNN, You Can See Everything was supposed to get a national expansion in the coming weekend, providing the distribution company with an additional chance to capitalize on the attention gained from the initial release.

It is still to be seen whether it will work this way. However, an impressive opening does not always mean a prolonged showing, and in the case of You Can See Everything, success depends on whether the public's interest will stay after the film becomes accessible everywhere.

For the time being, the documentary managed to make its way to the box office. It proved once again that even though a limited release is used, a movie with a fresh approach to an old tale can become quite popular.