According to statistics firm the Boxoffice Company, the hit musical adaption is predicted to earn $114 million (£90.6 million) on its first weekend in North America.
That surpasses the previous record-holder, Les Misérables, which made $103 million worldwide on its first weekend of release in 2012.
The movie is expected to make $17.6 million (£14 million) this weekend in the UK and Ireland, making it the highest-grossing opening weekend of 2024.
According to the Boxoffice Company, this was the biggest weekend at the movie office before Thanksgiving since 2013 in North America, where Gladiator II also debuted on Friday.
Based on a novel that made up the Wicked Witch of the West’s history, the musical Wicked debuted on Broadway and has been touring the West ever since.