Natalie Portman stars as Mighty Thor, aka Dr. Jane Foster, in Marvel’s “Thor: Love and Thor” alongside Chris Hemsworth, who plays Thor Odinson.
The summer box office started with a bang, but as the fall season has turned, ticket sales have deteriorated.
hopeful and with Skydance’s “Top Gun: Maverick.” Disney And Marvel Studios’ “Doctor Strange in the Multiverse of Madness” revived the movie theater business, driving to millions of theaters and raking in hundreds of millions in ticket sales. The two films kicked off the summer movie season, which runs from May to August, and are the two highest-grossing films released domestically this year.
However, with only a few major releases during the summer season, ticket sales dropped in late July and fell throughout August. In fact, the box office generated less than $100 million in each of the last five weeks of the summer period, according to data from Comscore.
“It definitely ended on a whim,” said Sean Robbins, chief media analyst at BoxOffice.com.
Including large franchises Universal “Jurassic World: Dominion,” “Minions: The Rise of Grove” and Disney’s “Thor: Love and Thunder” lifted the box office, but without small- and mid-budget films to fill the gaps, the summer box office The office failed to capitalize. At its speed.
While audiences have returned to the cinema, and are spending more on premium tickets and popcorn, there are still a number of epidemic problems. These problems include production stoppages that delay the shooting of the film and reduce the pressure on the visual effects houses to complete the project.
This means that the film calendar, while filling back up, is far from running on all cylinders. During the summer, only 22 movies opened in theaters, down 47.6% compared to 2019, Comscore data shows. And this is a trend that has been seen throughout the year. From January to the end of August in 2019, Hollywood released 75 movies in theaters. In 2022, so far, it has only released 46.
Robbins said there will be more month-to-month consistency next year.
Despite nearly 50 percent fewer movie releases during this four-month period, the domestic box office still posted $3.34 billion in ticket sales, down just 21 percent from 2019 levels.
Tom Cruise in the movie “Top Gun: Maverick”.
“The results are impressive,” said Paul Degarabedian, senior media analyst at Comscore. “Summer movies like ‘Top Gun: Maverick,’ ‘Doctor Strange 2,’ ‘Jurassic World: Dominion,’ and others, punched above their weight in May, June and July, not only boosting sales, but the industry after that. Also increase confidence. Fits and starts during 2020 and 2021.
“However, the slow pace of fall has left the industry with a bit of a post-summer hangover to worry about with only a few apparent blockbusters waiting in the wings to bolster third-quarter box office fortunes,” he said.
As it stands, there are currently only four blockbuster releases hitting theaters before the end of December, including from Warner Bros. “Black Adam” in October, Disney’s “Black Panther: Wakanda Forever” and “Strange World” in November and Disney’s “Avatar: The Way of Water” in December.
By comparison, 2019 had nearly two dozen blockbuster-style films on the calendar for the last four months of the year, including “Star Wars: The Rise of Skywalker,” “Jumanji: The Next Level” and “Frozen II.” are included. “
The domestic box office has generated about $5.3 billion since January, down about 31 percent from 2019, but remains on pace to sell about $7.5 billion in tickets by the end of the year, Degarabedian said.
“This is clearly an excellent result for an industry that saw 2020 levels of just $2.3 billion and 2021 that wound up at $4.6 billion,” he said.
Next year looks strong. The calendar already has significantly more titles, as well as a more diverse mix of genres and budgets, including Marvel’s “Ant-Man and the Wasp: Quantum of Solace,” “Dungeons & Dragons” and “John Wick 4.” .
“2023 turns things on a much better foot,” Robbins said.
Disclosure: Comcast is the parent company of NBCUniversal and CNBC.