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News: General

Summer Box Office Drags Behind Expectations

Monday, August 5, 2019   (0 Comments)
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From Variety:

It wasn’t supposed to be like this.

Heading into the new year, box office analysts were bullish that 2019 would beat, or at least match, the record-breaking success of last season. Followups to “Avengers,” “Secret Life of Pets” and “Godzilla” combined with reboots of storied franchises such as “Men in Black” and “Shaft” would elevate ticket sales to new heights, theater owners and studio executives predicted. Alas, it was not to be.

Sure, everyone showed up to “Avengers: Endgame” to bid goodbye to Iron Man, but many of those other sequels sputtered out...

Some analysts think that the challenges the business is facing won’t be overcome by a few hit movies. Disney, WarnerMedia, and Comcast are all devoting enormous resources to the launch of streaming services. They are readying themselves for a digital future, one in which the theatrical business represents a smaller share of their profits. There’s a sense of urgency among all of these companies, one that has only grown more pronounced as the summer box office has been thrown off its axis.

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