US Box Office takes a big hit this year - most films have failed

[Ali Gator]

Hollywood analysts were expecting to take in at least $10 Billion at the US Box Office in 2023. With just days to go to finish off the year, it will be lucky to see it hit $8.6 Billion at the Box Office. Ticket prices increased 15% this year, but less people went to the movies, it seems. Hollywood insiders blame "Superhero Fatigue" as many of the "Superhero" movies flopped at the box office.

 

Others say the writers strike, overlapped with the actors strike this summer, was also to blame. Actors couldn't promote their movies from May - October, and some movies were postponed to 2024. 88 films were released in 2023 as compared to 108 in 2019 (looking at pre-pandemic) when the box office hit $10.5 billion, and tickets were at least 15% lower back then. This November was much worse than last November - 11% worse - with 'Wish' and 'The Marvels' proving to be an expensive flop. 

Two films helped the box office surpass the $7.5 Billion take it did in 2022 : "Barbie" and "SuperMario Bros", wit each taking in $500 Million at the box office. 

[BuffaloKyle]

Superhero films were the main culprit. Audiences are finally sick and tired of them. I was years ago. But people will go to the movies for a good reason as they were plenty of successes like Barbie, Mario, Oppenheimer, Taylor Swift as you said. 

[Guest]

Read that movie-goer mood is comfort; hence superhero flops. Predictable given current events.

[viewing ownly]

I haven't been to the mainstream movies in eight years. I saw "Minions", because I had a complimentary pass. There was one other person in the theater, and he thought it was acceptable to whack off to this film. I don't have a punchline for the horror of this happening, but it did give me flashbacks to the Pussycat Theatres from the 1980s, where his action wasn't uncommon, but seeing minions of a different kind was. 

[dutchal]

On 12/26/2023 at 11:57 PM, viewing ownly said:

I haven't been to the mainstream movies in eight years. I saw "Minions", because I had a complimentary pass. There was one other person in the theater, and he thought it was acceptable to whack off to this film. I don't have a punchline for the horror of this happening, but it did give me flashbacks to the Pussycat Theatres from the 1980s, where his action wasn't uncommon, but seeing minions of a different kind was. 

Shades of Pee Wee Herman!

[dutchal]

Getting back to the OP, I much prefer watching movies in the theater.  I live within walking distance of about twenty screens and, when you count the rest of Manhattan, have a zillion choices.  Yet, much of the time this past year, when I went to look at what was playing, I had zero interest in what I found.  I don't know how they decide what goes into the theaters and what goes into streaming, but there are a lot of streaming movies I'd rather see in the theater and a lot of theatrical releases that IMHO belonged on streaming, if anywhere.  But I'm just one consumer.

[BuffaloKyle]

From the-numbers.com:

Our preliminary total for the year is $8.9 billion, up a very respectable 20% from last year. While $10 billion looked on the cards at one point, the strikes really put paid to that notion, and will mean there’s a significant lack of content when we look ahead to 2024.

[samhexum]

On 12/26/2023 at 11:57 PM, viewing ownly said:

I haven't been to the mainstream movies in eight years. I saw "Minions"

It's been 14 or 15 years.  July 1, whatever year ICE AGE 3 came out.  

3 hours ago, dutchal said:

I live within walking distance of about twenty screens and, when you count the rest of Manhattan, have a zillion choices.  

One multiplex in Brooklyn, just over the border from Queens, closed yesterday.  Another in Queens will be closing next month and yet another might be right behind it.

[+ WilliamM]

None of the many theaters in Philadelphia are closing 

It is the opposite, especially in the area near the liberty bell and Independent  Hall and where Benjamin Franklin lived

And near The University of Pennsylvania 

[+ Cash4Trash]

Worldwide the #'s are up -  

Global Box Office Reaches $33.9B In 2023, Up 31% On 2022 – Analysts

DEADLINE.COM

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Global box office is estimated to have reached $33.9B for 2023, a 30.5% gain on 2022, according to Gower Street Analytic

 

[Ali Gator]

One major disappointment-dud  is the Oprah-produced musical remake of 'The Color Purple'. Yes, it opened as the #1 movie on Christmas Day - thanks to special pricing for promotional purposes across the nation by the studio and Oprah - with a gross of $18M at the box office. As industry insiders have noted - without that 'special discounted pricing'  - it would never had grossed $18 M. 

So since Christmas Day, it has steadily fallen at the box office, and was #1 for only a day. On New Year's Day, it dropped to 5th place at the box office. On January 2, it fell to sixth place - averaging just $452 per screen (yes, you read that correctly). It grossed $910,000 on Wednesday, cementing it in 6th place. It will probably fall out of the top 10 after this weekend.

[pubic_assistance]

2 minutes ago, Ali Gator said:

One major disappointment-dud  is the Oprah-produced musical remake of 'The Color Purple'.

I always question the "re-make" of film classics.

I could count the successes on one hand.

[Ali Gator]

A movie theater owner who opened ten screens independently over the past 27 years in my state, announced on New Year's Day that all ten theaters will be closing at the end of February. He can't stay in business with no one going to the movies anymore - which started during the pandemic. It's too bad - this family owned operation was top-notch.  He said he did try to sell it - to quite a few people in the past two years. No one could get the financing.

[pubic_assistance]

3 minutes ago, Ali Gator said:

He can't stay in business with no one going to the movies anymore - which started during the pandemic.

The pandemic miscalculation did irreparable damage to many businesses that relied on groups of people gathering.

[samhexum]

It tugged on his heartstrings, but now he can’t loosen his purse strings.

Kevin Smith, who bought his childhood movie theater last year, is struggling to keep it in business.

So he’s hosting a memorabilia sale there to raise funds to keep it afloat.

“Theatrical exhibition is in the toilet,” Smith, 53, told NJ Advance Media. “We’re selling stuff to stay alive until May.”

The Red Bank, New Jersey, native, who was raised in Highlands, bought the Atlantic Moviehouse in Atlantic Highlands with his wife, Jen Schwalbach, and business partners in the fall of 2022.

He renamed the five-screen theater, which dates to the early 1920s, SModcastle Cinemas, a nod to his podcast network.

On Saturday, the “Clerks” director hosted the SMauction, an auction of movie items such as props, costumes and objects autographed by celebrities, in an effort to raise money for the troubled theater.

After the auction ends, Smith is hosting a 15th anniversary screening of his 2008 sex comedy “Zack and Miri Make a Porno,” which stars Seth Rogen and Elizabeth Banks.

Smith purchased the movie house from Frederick Rast, the former mayor of Atlantic Highlands, for an undisclosed amount. The theater and adjacent building Rast owned were listed for $2.6 million, according to the Asbury Park Press.

“Suddenly you’re not just buying a movie theater, you’re buying real estate, two buildings on First Avenue, which feels very, very grown-up,” Smith told the outlet at the time.

“And thankfully I can offset that forced maturity with some fun immaturity in the theater itself.”

[Ali Gator]

Quote

It tugged on his heartstrings, but now he can’t loosen his purse strings.

Kevin Smith, who bought his childhood movie theater last year, is struggling to keep it in business.

A classic case where someone who has zero business sense buys / starts a business and treats it as a 'hobby' not a real 'business'.  Fails all the time.