Maverick’ 2022 gives box office momentum, but inflation may hurt | Techno Glob

“Top Gun: Maverick” topped $1 billion at the global box office over the weekend, setting a new career milestone for star Tom Cruise and signaling some momentum for the domestic box office as it heads into the second half of the year. goes

J hopeful And the Sky Dance film is the second feature to reach the $1 billion benchmark since March 2020, when the Covid pandemic halted production and closed theaters. Box office analysts are pinning expectations for a strong second quarter in 2022 for “Maverick” at domestic ticket sales — about $520.8 million on its total haul.

As of Sunday, the domestic box office has generated $3.63 billion in ticket sales, up 263 percent from last year. While the tally still remains in 2019, down about 33 percent, a string of strong theatrical performances and a strong slate of upcoming films have left most box office analysts optimistic about future ticket sales despite economic pressures. .

“Even with less than a third of content, summer 2022 is moving along as audiences and theaters find their cinematic groove,” said Jeff Bock, senior analyst at Exhibitor Relations. “With five films in double figures this past weekend, it’s a sure sign that momentum is back on the studio’s side.”

Over the weekend, “Top Gun: Maverick” and “Elvis” took in $30 million each, “Jurassic World: Dominion” added $26.4 million, Toy Story spin-off “Light Year” added $17.6 million and “The Black Phone” premiered. with $23.7 million, according to data from Comscore.

“The problem this summer, is that after the first two weeks of July, especially August, will the momentum of the movie continue with most of the original movies?” Bok said. “It’s going to be important for the industry. Look, we know the blockbuster IP is back, but it’s never been in question since ‘Spider-Man: No Way Home.’ That’s how movies work in late July and August.

Experts predict that the domestic box office will reach between $7.5 billion and $8 billion this year, up about 30% to 35% from the $11.4 billion generated in 2019 — but that’s only if non-franchise films do well. Budget releases and increases between films can drive ticket sales. Don’t be intimidated by rising prices.

While the movie theater biz has long been considered “crowd-proof” because ticket prices are traditionally lower than other forms of entertainment, consumers can reap the benefits of visiting the cinema like other price balloons. . According to recent government figures, the rate of inflation is rising, not seen in four decades.

“The impact of rising inflation on the pocketbook could prove to be the biggest challenge for the industry as audiences who are naturally becoming more selective about what they spend their hard-earned money on will find it harder than ever to make that decision.” comes multiplex,” said Paul Degarabedian, senior media analyst at ComScore.

Audiences will have a lot of content to choose from in the coming months. is on the docket Disney and Marvel’s “Thor: Love and Thunder” and “Black Panther: Wakanda Forever” as well Warner Bros. and DC’s “Black Adam” and “Shazam: Wrath of God.” universal “Minions: The Rise of Gru” and Jordan Peele’s “Nope” and sony The highly anticipated “Bullet Train” is.

Closing out the year will be Disney’s “Avatar: The Way of Water,” the first planned sequel to the highest-grossing film of all time.

“There is no greater sign of a return to normality for the box office than a crowded movie market with a diverse lineup of films jockeying for position on all weekly charts delivering a mix of hits and misses,” Degarabedian said.

Already the 2022 slate is out of features released in 2021, which saw Disney’s “Shang-Ci and the Legend of the Ten Rings” become the year’s top-grossing domestic release, with $225 million in ticket sales. Sony’s “Spider-Man: No Way Home” took in $573 million at the end of December.

“This summer is generally meeting, if not exceeding, expectations to finish with a strong release schedule that doesn’t depend on just one movie,” said Sean Robbins, chief analyst at “There’s something for everyone in theaters right now, and the high comfort level is consistent with the latest developments in movie theaters. Theaters are back and thriving.”

“Maverick” is the top-grossing domestic title for the year, followed by “Doctor Strange in the Multiverse of Madness,” which earned $409 million in the U.S. and Canada, then “The Batman” with $369.3 million and “Jurassic World.” : Dominion” with $303 million.

Disclosure: Comcast is the parent company of NBCUniversal and CNBC. NBCUniversal is the distributor of “Minions: The Rise of Grove,” “No,” “Jurassic World: Dominion” and “The Black Phone.”

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