NEW YORK (AP) — With a combined $270 million in worldwide ticket sales, “Wicked” and “Gladiator II” breathed fresh life into a box office that has struggled lately, leading to one of the busiest moviegoing weekends of the year.

Jon M. Chu’s lavish big-budget musical “Wicked,” starring Ariana Grande and Cynthia Erivo, debuted with $114 million domestically and $164.2 million globally for Universal Pictures, according to studio estimates Sunday. That made it the third-biggest opening weekend of the year, behind only “Deadpool & Wolverine” and “Inside Out 2.” It’s also a record for a Broadway musical adaptation.

Ridley Scott’s “Gladiator II,” a sequel to his 2000 best picture-winning original, launched with $55.5 million in ticket sales. With a price tag of around $250 million to produce it, “Gladiator II” was a big bet by Paramount Pictures to return to the Colosseum with a largely new cast, led by Denzel Washington and Paul Mescal. While it opened with a touch less than the $60 million predicted in domestic ticket sales, “Gladiator II” has performed well overseas. It added $50.5 million internationally.

The collision of the two movies led to some echoes of the “Barbenheimer” effect of last year, when “Barbie” and “Oppenheimer” launched simultaneously. The nickname this time, “Glicked,” wasn’t quite as catchy and the cultural imprint also was notably less. Few people sought out a double feature this time. The domestic grosses in 2023 — $162 million for “Barbie” and $82 million for “Oppenheimer” — also were higher.

“Glicked” falls short of “Barbenheimer”

For Universal, which distributed “Oppenheimer” last year, the weekend was more a triumph of “Wicked” than it was of “Glicked.”

“We saw an opportunity to dominate a weekend and get a very large running start into the Thanksgiving holiday,” said Jim Orr, distribution chief for Universal. “We’re very confident that it will play ridiculously well through the Christmas corridor and into the new year.”

But the counter-programming effect was still potent for “Wicked” and “Gladiator II,” which likewise split broadly along gender lines. And it was again the female-leaning release — “Wicked,” like “Barbie” before it — that easily won the weekend. About 72% of ticket buyers for “Wicked” were female, while 61% of those seeing “Gladiator II” were male.

“Standing on their own, each of these movies may have done pretty much what they did, but it’s hard to know,” said Paul Dergarabedian, senior media analyst for Comscore. “Raising awareness can indeed lead to an increase in box office. Let’s put it this way: They didn’t hurt each other at all.”

Massive marketing campaigns paved the way for opening weekend

While “Barbenheimer” benefitted enormously from meme-spread word-of-mouth, both “Wicked” and “Gladiator II” leaned on all-out marketing blitzes.

The “Gladiator II” campaign featured everything from a much-debated Airbnb cross-promotion with the actual Colosseum in Rome to simultaneously running a one-minute trailer on more than 4,000 TV networks, radio station and digital platforms.

The “Wicked” onslaught went even further, with pink and green themed “Wickedly Delicious” Starbucks drinks, Stanley mugs and Mattel dolls (some of which led to an awkward recall ). Its stars made appearances at the Met Gala and the Olympics.

“We had roughly 400 global brand partners on ‘Wicked,’ so the campaign was inescapable, said Orr. “And our cast, led by Cynthia Erivo and Ariana Grande, worked so hard on this. They were everywhere. They did everything we asked them to do.”

Going into the weekend, box office was down about 11% from last year and some 25% from pre-pandemic times. That meant this week’s two headline films led a much-needed resurgence for theaters. With “Moana 2” releasing Wednesday, Hollywood might be looking at historic sales over the Thanksgiving holiday.

The two films boosted sluggish box office performance

“This weekend’s two strong openers are invigorating a box office that fell apart after a good summer,” said David A. Gross, a film consultant who publishes a newsletter for Franchise Entertainment.

Though “Wicked” will face some direct competition from “Moana 2,” it would seem better set up for a long and lucrative run in theaters than “Gladiator II.” Though some have dinged “Wicked” for running long, at 2 hours and 40 minutes, the film has had mostly stellar reviews. Audiences gave it an “A” on CinemaScore. The reception for “Wicked” has been strong enough that Oscar prognosticators expect it to be a contender for best picture at the Academy Awards, among other categories.

Producers, perhaps sensing a hit, also took the step of splitting “Wicked” in two. Part two, already filmed, is due out next November. Each “Wicked” installation cost around $150 million to make.

“Gladiator II” has also enjoyed good reviews, particularly for Washington’s charismatic performance. Audience scores, though, were weaker, with ticket buyers giving it a “B” on CinemaScore. The film will make up for some of that, however, with robust international sales. It launched in many overseas markets a week ago, and has already accrued $165.5 million internationally.

Coming in a distant third place for the weekend was “Red One,” the Dwayne Johnson, Chris Evans holiday movie turned action film. In its second week of release, the Amazon MGM Studios release grossed $13.3 million to bring its two-week global haul to $117 million. At a cost of $250 million to make, “Red One” is the season’s biggest flop, though it could recoup some value for Amazon if it’s more popular once it begins streaming.

Final domestic figures will be released Monday. Estimated ticket sales for Friday through Sunday at U.S. and Canadian theaters, according to Comscore:

1. “Wicked,” $114 million.

2. “Gladiator II,” $55.5 million.

3. “Red One,” $13.3 million.

4. “Bonhoeffer: Pastor Spy Assassin,” $5.1 million.

5. “Venom: The Last Dance,” $4 million.

6. “The Best Christmas Pageant Ever,” $3.5 million.

7. “Heretic,” $2.2 million.

8. “The Wild Robot,” $2 million.

9. “Smile 2,” $1.1 million.

10. “A Real Pain,” $1.1 million.

NEW YORK (AP) — Bitcoin topped $98,000 for the first time Thursday, extending a streak of record after record highs since the U.S. presidential election. The cryptocurrency has rocketed more than 40% in just two weeks.

Now, bitcoin is at the doorstep of $100,000, just two years after dropping below $17,000 following the collapse of crypto exchange FTX. The recent, dramatic rally arrives as industry players expect the incoming Trump administration to bring a more “crypto-friendly” approach toward regulating the digital currency.

Bitcoin traded as high as $98,349 early Thursday, according to CoinDesk, and was slightly below that level at 1:25 p.m. ET.

As with everything in the volatile cryptoverse, the future is impossible to know. And while some are bullish, other experts continue to warn of investment risks.

Here’s what you need to know.

Back up. What is cryptocurrency again?

Cryptocurrency has been around for a while now. But, chances are, you’ve heard about it more and more over the last few years.

In basic terms, cryptocurrency is digital money. This kind of currency is designed to work through an online network without a central authority — meaning it’s typically not backed by any government or banking institution — and transactions get recorded with technology called a blockchain.

Bitcoin is the largest and oldest cryptocurrency, although other assets like ethereum, tether and dogecoin have also gained popularity over the years. Some investors see cryptocurrency as a “digital alternative” to traditional money — but it can be very volatile, with its price reliant on larger market conditions.

Why is bitcoin soaring?

A lot of the recent action has to do with the outcome of the U.S. presidential election.

Crypto industry players have welcomed Trump’s victory, in hopes that he would be able to push through legislative and regulatory changes that they’ve long lobbied for — which, generally speaking, aim for an increased sense of legitimacy without too much red tape.

Trump, who was once a crypto skeptic, recently pledged to make the U.S. “the crypto capital of the planet” and create a “strategic reserve” of bitcoin. His campaign accepted donations in cryptocurrency and he courted fans at a bitcoin conference in July. He also launched World Liberty Financial, a new venture with family members to trade cryptocurrencies.

How of this will actually pan out — and whether or not Trump will successfully act quickly on these promises — has yet to be seen.

“This is not necessarily a short-term story, it’s likely a much longer-term story,” Citi macro strategist David Glass told The Associated Press last week. “And there is the question of how quickly can U.S. crypto policy make a serious impact on (wider adoption).”

Adam Morgan McCarthy, a research analyst at Kaiko, thinks the industry is craving “just some sort of clarity.” Much of the approach to regulating crypto in the past has been “enforcement based,” he notes, which has been helpful in weeding out some bad actors — but legislation might fill in other key gaps.

Gary Gensler, who as head of the Securities and Exchange Commission under President Joe Biden has led a U.S. government’s crackdown on the crypto industry, penalized a number of crypto companies for violating securities laws. Gensler announced Thursday that he would step down as SEC chair on Jan. 20, Inauguration Day.

Despite crypto’s recent excitement around Trump, McCarthy said that 2024 has already been a “hugely consequential year for regulation in the U.S.” — pointing to January’s approval of spot bitcoin ETFs, for example, which mark a new way to invest in the asset.

Spot ETFs have been the dominant driver of bitcoin for some time now — but, like much of the crypto’s recent momentum, saw record inflows postelection. According to Kaiko, bitcoin ETFs recorded $6 billion in trade volume for the week of the election alone.

In April, bitcoin also saw its fourth “halving” — a preprogrammed event that impacts production by cutting the reward for mining, or the creation of new bitcoin, in half. In theory, if demand remains strong, some analysts say this “supply shock” can also help propel the price long term. Others note it may be too early to tell.

What are the risks?

History shows you can lose money in crypto as quickly as you’ve made it. Long-term price behavior relies on larger market conditions. Trading continues at all hours, every day.

At the start of the COVID-19 pandemic, bitcoin stood at just over $5,000. Its price climbed to nearly $69,000 by November 2021, during high demand for technology assets, but later crashed during an aggressive series of Federal Reserve rate hikes. And in late 2022 collapse of FTX significantly undermined confidence in crypto overall, with bitcoin falling below $17,000.

Investors began returning in large numbers as inflation started to cool — and gains skyrocketed on the anticipation and then early success of spot ETFs. But experts still stress caution, especially for small-pocketed investors. And lighter regulation from the coming Trump administration could mean less guardrails.

While its been a big month for crypto — and particularly bitcoin, which McCarthy notes has set record highs for ten of the last 21 days — there’s always risk for “correction,” or seeing prices fluctuate back down some. Some assets may also have more restrictions than others.

“I would say, keep it simple. And don’t take on more risk than you can afford to,” McCarthy said — adding that there isn’t a “magic eight ball” to know for certain what comes next.

What about the climate impact?

Assets like bitcoin are produced through a process called “mining,” which consumes a lot of energy. Operations relying on pollutive sources have drawn particular concern over the years.

Recent research published by the United Nations University and Earth’s Future journal found that the carbon footprint of 2020-2021 bitcoin mining across 76 nations was equivalent to the emissions from burning 84 billion pounds of coal or running 190 natural gas-fired power plants. Coal satisfied the bulk of bitcoin’s electricity demands (45%), followed by natural gas (21%) and hydropower (16%).

Environmental impacts of bitcoin mining boil largely down to the energy source used. Industry analysts have maintained that clean energy has increased in use in recent years, coinciding with rising calls for climate protections