'Top Gun: Maverick' passes 'Titanic' as Paramount's top U.S. film

Tom Cruise's long-awaited "Top Gun" sequel proves the box office is alive and well, as it was not only the actor's highest-grossing movie, it was Paramount Picture's biggest domestic release in the studio's history.

Why it matters: The whopping gross to date shows that speculation around the demise of the box office is greatly exaggerated. Going forward, this will test studios' willingness to sacrifice theatrical revenue in favor of growing their in-house streaming services.