Paramount hoping Elton John biopic ‘Rocketman’ will boost sales

Elton John biopic rockets into theaters

‘In the FOXlight’ host Michael Tammero on ‘Godzilla: King of the Monsters,’ ‘Rocketman’ and ‘Ma.’

The Elton John biopic “Rocketman” opened Friday amid high expectations from the film industry.

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The movie, which stars Taron Egerton as the singer, cost an estimated $120 million to create and market, The New York Times reported.

Paramount Pictures, which has been struggling, could use the boost if the film delivers on sales. The Viacom-owned Paramount has experienced a slew of flops and losses recently. Since 2012, Paramount has been last at the domestic box office, The New York Times reported earlier this year.

The film comes on the heels of the popular Queen biopic “Bohemian Rhapsody,” which grossed more than $900 million worldwide, Forbes reported. The film also won four Academy Awards. “Rocketman,” which was released in the U.K. last week, grossed $6,800,000 from the premiere.

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The film is being released during a time where 40 percent of the year’s ticket sales occur.

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The biopic, directed by Dexter Fletcher, will face competition from action movie “Godzilla: King of Monsters,” which also opens this weekend.