For two years, the movie industry was truly afraid of the future of watching movies. No one knew if the cinema would recover from the coronavirus pandemic. Sitting in the theater in the dark and watching a video — an already long and slowly declining 117-year-old American pastime — may have encountered a moment of dinosaur extinction.
Of course, superhero movies are excluded.
However, box office revenue analysts say there is ample evidence for a clear assessment. Watching movies in the US and Canada is out of the intensive care unit and heading for something that even resembles health. “All genres have been re-established, except for big animations,” he said. Franchise entertainment researchMovie consultant.
We may add animations to the list this weekend. According to analysts, the fifth installment in the Despicable Me series, Minions Feeling of Guru (Universal Illumination), could earn more than $ 80 million in theaters in North America between Friday and the end of Monday. there is. A survey that tracks the interests of viewers. Gross said it would be a “spectacular” show for a dilapidated franchise.
According to Comscore, which summarizes movie viewing data, ticket sales in June in the United States and Canada totaled about $ 990 million, a decrease of about 10% from June 2019. “This is a great result. It’s been the best month of box office revenue since the pandemic began,” said Paul Delgarabedian, senior analyst at Comscore.
For example, watching movies in May decreased by 42% from May 2019. It fell 25% in April.
June benefited from a combination of movies. “Top Gun: Maverick” (Paramount) has raised more than $ 535 million in North America since it arrived on May 27, and “Jurassic World Dominion” (Universal) has raised about $ 315 million in the last three weeks. I sold a ticket for. The anime “Lightyear” (Disney-Pixar) has earned about $ 100 million since its release on June 17th. Meanwhile, “Elvis” (Warner Bros.) has earned about $ 50 million since it arrived a week ago. This is a very solid amount for a musical. biography. The low-budget horror movie The Black Phone (Universal) generated about $ 35 million in the same time frame.
And the annoying indie “Everything Everything All At Once” (A24) has been snuggling up to the art house since late March, raising an impressive $ 66.4 million.
After delaying the release for years and rerouting the movie to a streaming service, the studio is stocking multiplex shelves again. According to Gross, 11 wide releases are planned for this month, one more than July 2019. The lineup includes “Thor: Love and Thunder,” “Crowdad’s Singing Place,” “Angry Feet: The Legend of Hank,” and Jordan Peele’s “Nope.”
“We have consistently stated that a stable stream of diverse and compelling new film content will improve the emotions of film fans and drive the driving force behind the rekindling of theater exhibitions.” Said Sean Gamble, CEO of Cinemark, one of North America. The largest multiplex operator said in an email. June has been Cinemark’s highest-selling month since the pandemic began.
Analysts said part of the June surge, movie quality (good reviews), rising consumer demand, and the power of in-theatre marketing (trailers played one weekend will increase attendance next weekend). ) Is the cause. There is also growing confidence in the theater as a virus-safe activity. According to a study by National Research Group, a film industry consultancy, about 85% of pre-pandemic ticket buyers (those who participate in at least four movies a year) can safely go to the theater. In January, about 65% felt safe. According to NRG data, consumers generally consider cinemas safer than gyms, bars and restaurants.
Gross said his positive domestic outlook requires one big note. International box office revenues still seem to be slow to recover, not only because the studio has stopped releasing movies in Russia.
“I’m tired,” he said. For example, Jurassic World Dominion is expected to generate about $ 125 million in China, while the 2018 franchise’s predecessor, Jurassic World: The Fallen Kingdom, will generate $ 258 million in China. I collected it. Pixar movies usually work very well abroad, with the exception of “Lightyear,” Gross said. (“Lightyear” was banned in 14 small box office revenue markets in the Middle East and Southeast Asia because it briefly portrays same-sex relationships.)
“Top Gun: Maverick” is a big hit everywhere, but some analysts expect more in some foreign markets.
