Entertainment

Hollywood looks down the barrel of a brutal box office summer

It's not like it's news that 2024 got off to a rocky start. We knew that due to the SAG and WGA strikes last year, the release schedule was going to be heavily impacted. Ticket sales have so far been down more than 20% from 2023, when the domestic box office topped $9 billion for the year. This figure is encouraging, but still well below pre-pandemic levels, when the annual total regularly ran $10 billion or more. The industry cannot afford another turn in the wrong direction. Yet here we are, with a summer off to a bad start and little hope on the horizon.

Next weekend will see the release of “Kingdom of the Planet of the Apes.” It's a film that should do quite well, with tracking suggesting an opening weekend in the $55-60 million range. But that's not enough to make up for the lack of a Marvel movie earning well over $100 million to kick off the summer, which is something we've become accustomed to. In fact, we don't have a movie on the calendar that looks like it could gross $100 million until “Despicable Me 4” comes along. the first weekend of July. From there, the industry is pinning its hopes on “Deadpool & Wolverine,” especially since Sony recently delayed “Kraven the Hunter” to December.

This is not what we are used to from summer release schedules. Now, theaters are hoping against hope that “The Garfield Movie” can play like “The Super Mario Bros. Movie” did last year. It's unlikely. We can only hope that George Miller's “Furiosa” can do more than “Mad Max: Fury Road” did nearly a decade ago. That would be very nice. Even if these things happen, we're still a long way from what we need to have a healthy, reliable theatrical market. So what should Hollywood do? What should theater owners do?

Sources

1/ https://Google.com/

2/ https://www.slashfilm.com/1577695/hollywood-staring-down-barrel-of-brutal-box-office-summer/

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