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This amounts to cutting off a potentially lucrative revenue stream out of spite.

Horror, particularly IP-based horror, has performed strongly even in the current box office climate look to January’s new “Scream” entry, which grossed over $81 million.ĭisney’s calculus for sending “Prey” directly to Hulu was reportedly to prevent the film from streaming on HBO Max as well, under the terms of an old deal for Fox releases. One that’s been frequently touted of late is “Prey,” the newest addition to the “Predator” franchise, which scored Hulu’s biggest premiere ever for any movie or TV show. And there are movies dropping on streaming that would be exactly the right movies. Indeed, pumping additional films into theaters could very well be additive to the box office - provided they’re the right movies.

Audiences will show up for counterprogramming if the movies are good or feature a notable star (like Sandra Bullock in “Lost City" or “Elvis” with Tom Hanks). Not for nothing, “Firestarter” scored a 10 percent “Fresh” rating on Rotten Tomatoes, while those four films scored in the high 70s to low 80s. In the summer of 2019 (the first Friday in May through Labor Day weekend), the top 10 films accounted for only 53 percent of the total box office by the end of the year, they accounted for less than 40 percent. Tentpoles were, of course, increasing their overwhelming dominance at the box office even before the pandemic.īut the gap between the top earners and the rest of the slate has widened substantially in the COVID era. The top 10 highest-grossing films made up 64 percent of the domestic box office total this summer “Maverick” alone made up more than a fifth. But a closer look at the year’s box office chart reveals more cause for concern: a case of movie income inequality, if you will. There will be films rolling out in the interim, of course, some of which have a decent chance of breaking through with strong word of mouth. This fall is a particularly dead zone for blockbusters, with the next major tentpoles, Warner Bros.’ supervillain story “Black Adam” and Marvel’s “Black Panther: Wakanda Forever,” not arriving until late October and early November, respectively. That’s bad news for theater owners, who are increasingly facing periods of feast or famine based on the number of tentpole films being released each month. That means next year will look an awful lot like this year: The first six months of 2022 produced just 41 widely released films. (In this context, “wide release” refers to films that played in at least 1,000 domestic theaters.)Īdditional films could, of course, be added to the schedule in the months ahead, but it’s unlikely there are many major releases not currently on the slate that will ultimately be released in the first half of 2023. That represents a 37 percent decline from the same timeframe in 2019 - the last year unaffected by the pandemic - when 63 wide releases hit U.S. There are plenty of potential blockbusters in the pipeline for 2023, from Marvel’s third “Guardians of the Galaxy” film to the long-awaited “Indiana Jones 5” to Cruise’s next feat of death-defying stuntwork, “Mission: Impossible - Dead Reckoning Part One.” But the overall number of films being released will remain below pre-pandemic levels, a concerning sign for the industry’s health.Ĭurrently, there are 40 wide theatrical releases slated for the first six months of 2023 in North America. But they should be even more concerned about what will happen next year. In recent weeks, theater owners have been expressing concern about the dearth of new releases in the coming months. How could this have happened, after a summer that, in addition to “Maverick,” produced such hits as “Jurassic World Dominion,” “Doctor Strange 2” and “Minions: The Rise of Gru”? The fact is, the banner performances of titles like “Maverick” have helped obscure the crisis brewing for the theatrical business.

Perhaps Tom Cruise couldn’t singlehandedly save the movies after all.ĭespite a summer marked by the high-flying theatrical performance of Cruise’s long-delayed sequel “Top Gun: Maverick,” the world’s second-largest exhibitor and owner of Regal Cinemas, Cineworld Group, is reportedly preparing to file for bankruptcy.