the staff of the Ridgewood blog
Ridgewood NJ, The summer movie season, typically heralded by big releases and blockbuster hits in May, especially around Memorial Day weekend, is off to a sluggish start this year.
According to Comscore data provided to CNN, Memorial Day weekend ticket sales are estimated at $128.3 million. This is a significant drop from last year’s $205 million and falls well short of the record set in 2013 when “Fast & Furious 6” propelled the weekend to $314.3 million. In fact, this year’s figures are the lowest since 1995 when “Casper” led a weekend that grossed $117.1 million, not even adjusted for inflation.
“There’s no way to sugarcoat it, the numbers this weekend are nothing to write home about,” said Paul Dergarabedian, senior media analyst with Comscore.
Leading the box office, “Furiosa: A Mad Max Saga” was estimated to rake in $32 million, but this performance underscores a tepid Memorial Day weekend and a lukewarm start to the summer box office. This sluggish start can be partly attributed to the lingering effects of last year’s Hollywood strikes.
The Impact of Production Delays , Strikes, Weak content and Streaming
The summer movie season is crucial, accounting for nearly 40% of the annual domestic box office revenue. However, the aftermath of the multi-month Writers Guild and SAG-AFTRA strikes has caused production delays, leading to a rocky start for this year’s summer season.
“Summer is the most important moviegoing season of the year, so as goes the summer, so goes the year,” Dergarabedian explained.
Last year, blockbuster hits like “Barbie” and “Oppenheimer” significantly boosted the domestic box office, collectively adding nearly a billion dollars. This year, however, studios are banking on mid-range sequels, prequels, and family-oriented animated films such as “Furiosa: A Mad Max Saga,” “Bad Boys: Ride or Die,” and “Inside Out 2” to fill the void.
The film industry is often criticized for its lack of originality, as more and more movies are based on existing material, such as books, comics, sequels, prequels, trilogies, spin-offs, and so on.
We also see a substantial decline in movies having a theatrical release, therefore narrowing the already limited options in a theater .
Legacy media companies have shifted their focus to streaming in response to competition from streaming , and streaming companies have begun to adopt the same traditional distribution practices they initially upended
Outlook for the Summer Box Office
Analysts predict a 20% to 25% decline in box office grosses between May and August compared to last year. Despite the absence of a Marvel movie to kick off the season, there is still hope for a rebound with big releases slated for June and July.
“There are some big ones on the horizon,” Dergarabedian noted, mentioning titles like “Despicable Me 4,” “Inside-Out 2,” and “Deadpool & Wolverine.”
The Elusive $100-Million Opening Weekend
Historically, the period between Memorial Day and Labor Day has been a lucrative window for the film industry, often generating upwards of $4 billion in domestic revenue. Summer 2023 saw the first post-pandemic $4-billion summer, driven by the success of “Sound of Freedom,” “Oppenheimer,” and “Barbie.”
However, no movie this year has yet crossed the $100-million opening weekend threshold, a milestone typically achieved by high-profile franchises and animated hits. Without a Marvel movie to provide a substantial opening weekend boost, the summer box office is off to a slow start.
Disney’s Role in the Box Office
Two potential $100-million openers this summer are “Deadpool & Wolverine” and “Inside Out 2,” both distributed by Walt Disney Studios. Disney’s offerings will be crucial in determining the overall performance of the 2024 box office.
“Inside Out 2” is projected to open between $80 million and $100 million, while “Deadpool & Wolverine” has already set records for ticket presales and has the potential to earn between $170 million and $210 million on its opening weekend.
The Road Ahead for Theaters
Despite a slow start, industry experts remain hopeful for a strong finish to the year. Upcoming releases like “Beetlejuice Beetlejuice,” “Transformers One,” and “Joker: Folie à Deux” are expected to draw significant audiences.
“Moviegoing habits have changed since the pandemic, but there is still significant enthusiasm for the theatrical experience,” said Daniel Loria, editorial director at Box Office Pro.
Box Office Pro projects the 2024 box office will gross $8.2 billion, about 10% lower than last year’s $9 billion. While domestic earnings for 2023 were the highest since the pandemic, they still fell approximately $2 billion short of pre-pandemic levels.
The success of the summer box office will hinge on the performance of key releases in the coming months, making it a critical period for the film industry.
Hollywood keeps producing Woke Garbage.
Is it any surprise that nobody is going to the movies?
While sometimes appropriate, it is lazy and ignorant to simply say anything bad in this world is leftist/woke “garbage” Not sure many would viewers left the Mad Max movie and felt it was too “woke”
It’s totally appropriate in this case.
So, what’s your point?
Just pontificating?
Trying to impress your boyfriend?
Just being ignorant and lazy in your kneejerk response to “woke”?
What is it?
Wait, wait, wait, do you mean the new Mad Max movie “Furiosa: A Mad Max Saga”? A movie in which a strong and independent, tough-as-nails 95 lb girl boss kicks the asses of men twice her size and completely overshadows the titular male character of the franchise? Nothing woke about that.
No one left the Mad Max movie because no one went. It was a total flop.
Aside from all the woke reboots etc and then ruining classic movies, there’s also the cost these days. We haven’t been to the movies in quite some time but, can imagine what the cost is. Why would folks spend good money to go see an updated movie because of wokeness? Enough of that S… already. We won’t, people won’t.
there is nothing worthwhile to see, unless you like to be preached to by disingenuous virtue signaling buffons.
Bad movies are bad. You don’t see Tom Hanks in anything lately. Because he is really bad and doesn’t want to be compared under the scrutiny of bad. He’s an actor, not an astronaut, not a prison guard, not a WAR HERO. Just an actor.
Maybe Winograd will sponsor a special screening of “Deadwood” or “Trapped” so residents can follow along with her reasoning at Council meetings. There are probably a lot of non native movies we can add to the list.