<strong><em>Avatar</em></strong> sinks the <strong><em>Titanic</em></strong>!
UPDATE: 1/26/10 1:15 PM PST Box Office Mojo has released the official Monday box office numbers which confirms Avatar as the all-time leader in worldwide box office, with an updated worldwide gross of $1.859 billion, easily passing Titanic's $1.84 billion mark. Avatar's updated domestic gross stands at $555 million while its international total is $1.309 billion.

Original Story:

It only took six weeks for James Cameron's new film to top his previous film's worldwide record. According to The Hollywood Reporter, Avatar has become the top-grossing film of all time at the worldwide box office passing Titanic's monumental worldwide gross.

Avatar currently stands at $551.7 million at the domestic box office and $1.292 billion international box office, giving it a total of $1.843 billion, which passes the $1.84 billion that Titanic earned 13 years ago. Fox confirmed that the mark fell sometime early on Monday.

Related: Avatar 2 Will Revolutionize 3D Claims James Cameron

Avatar is still approximately $49 million away from Titanic's domestic box office record of $600.8 million.

The Hollywood Reporter reports the latest No. 1 weekend overseas tally was $108.3 million grossed from 11,925 screens in 111 markets. It was the sixth consecutive weekend that Avatar grossed more than $100 million on the foreign circuit.

Avatar is directed by James Cameron and stars Sam Worthington, Zoe Saldana, Sigourney Weaver, Michelle Rodriguez, Giovanni Ribisi, Joel David Moore, CCH Pounder, Peter Mensah, Laz Alonso, Wes Studi, Stephen Lang and Matt Gerald.

Among the key territories on the weekend were: France (cume $124.8 million), Germany ($95.8 million), the U.K. ($93.2 million), South Korea ($79.7 million), Japan ($77.7 million), Australia ($77 million) and Spain ($76 million). "Avatar" is now the biggest-grossing film of all time in China, Spain, Russia, Hong Kong and Chile. It is the biggest Hollywood film ever to play in India.

The latest gross numbers underscore yet again the importance of the foreign circuit playoff to Avatar's success. Nearly 70% of the film's worldwide revenues come from overseas. That's about the same as the 67% slice of Titanic's worldwide total gross that originated abroad.

Peculiar to Avatar's success is the latest wave of exhibition technology. At least 65% of its overseas boxoffice and nearly 80% of its domestic earnings derive from 3D venues, which charge the equivalent of several dollars more than conventional theatrical sites. Imax locations worldwide playing Avatar have rolled up $134 million in 38 days at ticket prices at about $15 each.

Big contributors to Avatar's foreign success are China and Russia, two key territories that were not significant boxoffice factors when Titanic played overseas. On the weekend, Avatar secured $12.5 million in China, boosting the market cume to $103 million. In Russia, the weekend tally was $4.8 million for a market cume of $96.3 million.

Then there is the inflation factor. According to a formula developed by the department of U.S. Labor Statistics, Titanic's 1997 worldwide gross is worth at least $2.5 billion on an inflation adjusted basis, or $805 million domestic and $1.664 billion foreign.

Still champ is Gone With the Wind, which grossed $400 million worldwide in 1939, now worth at least $6 billion in today's dollars. One dollar in 1939 is the equivalent of $15.43 today.

Otherwise, the weekend lineup of the top five films overseas remained constant. Warner Bros.' Sherlock Holmes from director Guy Ritchie, stayed at No. 2 with $17.2 million from 4,758 screens in 58 markets for a cume of $197 million. In third place was Fox's family-oriented Alvin and the Chipmunks: The Squeakquel, which garnered $11.6 million from 4,776 screens in 60 markets for a foreign cume of $175.2 million.

Thanks to openings in 17 territories, Paramount's Up in the Air, director Jason Reitman's comedy-drama starring George Clooney, emerged at No. 4 with $11.2 million derived from 2,039 spots in 23 markets for an early cume of $19.7 million. Fifth was It's Complicated, Universal's romantic comedy with Meryl Streep, which bagged $10.4 million from 2,569 situations in 32 territories for a cume of $50.9 million.