Demi Moore Resurges with The Substance: A Box Office Triumph

Photo Disclosure MUBI

The Substance, a Cannes Film Festival sensation, has marked a monumental comeback for Demi Moore. Directed and written by Coralie Fargeat, the body-swap horror film is set to surpass $70 million globally, a remarkable feat for a project with an $18 million budget.

Produced by Working Title and shot in France, the two-hour-and-21-minute feature showcases Moore as Elizabeth, a former aerobics TV star grappling with fading fame. Her character undergoes a body-swap experiment, unveiling a younger version of herself, Sue, played by Margaret Qualley. While the experiment offers a fleeting revival of Elizabeth’s career, it spirals into unforeseen and unsettling consequences.

The film’s world premiere at Cannes received a 13-minute standing ovation, securing the Best Screenplay award for Fargeat. Moore’s performance has sparked award-season buzz, despite the actor revealing she battled shingles and lost 20 pounds during filming.

Box Office Success

The Substance marks a turning point for MUBI, which made its first foray into wide theatrical release. The film opened in U.S. theaters on September 20, earning $3.2 million from 1,949 locations in its debut weekend. Though it initially lagged behind Halle Berry’s Never Let Go, Moore’s horror drama gained momentum, outperforming Berry’s film with $16.2 million in the U.S. and $75 million globally, compared to Berry’s $16.4 million worldwide.

Photo Disclosure MUBI

The film’s box office trajectory has surpassed genre predecessors like Ari Aster’s Midsommar ($48.4M WW) and Sofia Coppola’s The Beguiled ($27.8M WW). It also stands shoulder-to-shoulder with Cannes-launched hits like Drive ($79.7M WW), and it marks Moore’s most significant solo global haul since Striptease in 1996.

MUBI’s Strategic Gamble Pays Off

MUBI acquired The Substance for $12.5 million before Cannes, covering territories like North America, Latin America, and India. Metropolitan Films later secured French distribution. Initially developed at Universal, Fargeat’s steadfast commitment to her creative vision led the studio to relinquish the project, allowing it to find new life with MUBI.

The film’s success underscores MUBI’s growing influence in the theatrical market. With minimal TV advertising and a focus on digital and social media, the campaign has proven that a calculated strategy can yield substantial results in an increasingly competitive industry.

As The Substance continues its global climb, Demi Moore’s triumphant return serves as a reminder of her enduring star power and the industry’s appetite for bold, auteur-driven storytelling.