• When you click on links to various merchants on this site and make a purchase, this can result in this site earning a commission. Affiliate programs and affiliations include, but are not limited to, the eBay Partner Network.

Coronavirus's impact on the worldwide box office
3 3

572 posts in this topic

On 10/4/2021 at 6:11 PM, Bosco685 said:

Could we be reaching that magical point of turnaround?

Could be.  Though I don't think things will get back to pre pandemic levels for while still.  I know that I'm someone who doesn't plan on seeing a movie in a theatre anytime soon.  I can wait for it to come out on video or one of the streaming services.

Psy

Link to comment
Share on other sites

First glance the numbers appear low yet studios took this into consideration when approving sequels for Jungle Cruise, Free Guy and A Quiet Place-based follow-up in 2023.

WW_BO01.thumb.png.0a62938129d9a950b89c65300e904a44.png

We'll see how far Bond and others can change the landscape. :popcorn:

Link to comment
Share on other sites

Quote

The company, led by CEO Mark Zoradi, posted a quarterly loss of $77.8 million on Friday, which compared with a loss of $147.6 million in the same period of 2020. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) for the latest three months swung to $44.3 million compared with a year-ago loss of $128.0 million. Revenue jumped to $434.8 million from $35.5 million in the year-ago period.

 

Link to comment
Share on other sites

Quote

However, it’s China’s ultra-conservative COVID-19 prevention approach that’s made the pandemic the biggest contributor of market uncertainty.

 

Cases in just a single city have sparked cinema shutdowns across the entire provinces and regions of Xinjiang, Heilongjiang, Hebei and Gansu, with theaters consistently among the first businesses to close and the last to re-open.

 

The “zero case tolerance” approach will likely last at least through February’s Winter Olympics and key annual governmental plenary sessions in March — meaning exhibitors anywhere outside of the better-governed cities of Beijing and Shanghai must learn to live with the ongoing possibility that they could be ordered shut at any moment.

Quote

Officials have repeatedly pushed pause on imported revenue-share films since July, when they cleared the docket of foreign films to make way for propaganda movies feting the 100th anniversary of the ruling Communist Party.

 

Most notable among them are the three Marvel films “Black Widow,” “Shang-Chi and the Legend of the Ten Rings,” and “The Eternals,” which have minimal chance of ever hitting the Chinese big screen.

 

Other studio films submitted for approval without any release news so far include Warner Brother’s “Space Jam: A New Legacy” (U.S. release: July 16) and “Reminiscence” (Aug. 20), Disney’s “Ron’s Gone Wrong” (Oct. 22) and “Encanto” (Nov. 24); Sony’s “Venom: Let There Be Carnage” (Oct. 1); and Paramount’s “PAW Patrol” (Aug. 20) and “Clifford the Big Red Dog” (Nov. 10).

 

More than a month passed this fall without any news at all about new film imports. That won’t stop others from trying their luck in the remainder of the year, including “West Side Story” (Dec. 10), “Spider-Man: No Way Home” (Dec. 17), “The Matrix 4,” “The King’s Man” and “Sing 2” (Dec. 22).

 

“Spider-Man” currently appears to have the best odds of actually releasing, with a second Chinese trailer circulated widely online this week.

 

Link to comment
Share on other sites

Quote

Over the weekend, “No Time to Die” eclipsed $730 million in global ticket sales, making the James Bond sequel both the year’s highest-grossing Hollywood film and the top performing film at the box office since COVID-19 appeared on the scene and nearly shut down the movie business.

 

Quote

The action-packed spy spectacle, which endured several coronavirus-related delays, has become the rare pandemic-era box office hit, which is even more impressive considering adult audiences — the core demographic for “No Time to Die” — have been reluctant to return to theaters. However, the movie cost more than $250 million to produce, at least $100 million to promote and tens of millions more to postpone over 16 months. Insiders say “No Time to Die” needs to make closer to $900 million to break even, a feat that would have been realistic had a global health crisis not entirely upended the theater industry. As a result, the film now stands to lose $100 million in its theatrical run, according to sources close to production. Other industry sources suggest the losses wouldn’t quite reach the nine-figure mark though they would still be substantial.

 

Quote

MGM, the studio behind Bond’s latest adventure, disputes this math. In a statement to Variety, the company insisted “No Time to Die” didn’t just break even but was a money maker.

 

“Unnamed and uninformed sources suggesting the film will lose money are categorically unfounded and put more simply, not true,” MGM spokesperson said in a statement. “The film has far exceeded our theatrical estimates in this timeframe, becoming the highest grossing Hollywood film in the international marketplace and passing ‘F9’ to become the highest grossing Hollywood film since the pandemic. With the PVOD release of the film already doing stellar home viewing business, all while continuing to hold well theatrically, ‘No Time To Die’ will earn a profit for MGM, both as an individual film title and as part of MGM’s incredible library.”

 

Quote

In any case, the potential losses illuminate the harsh reality currently facing big-budget films: becoming profitable (at least in the theatrical run) is uncommon in the best of times and basically unfeasible during a pandemic. “No Time to Die” is far from the only tentpole to lose money while the movie theater industry struggles to recover. Marvel’s superhero epics “Shang-Chi and The Legend of the Ten Rings” and “Eternals,” as well as “The Suicide Squad” and Christopher Nolan’s mind-bender “Tenet” all stand to finish in the red with losses in the tens of millions. Nor are these the biggest box office debacles of the COVID era. That honor would likely go to Twentieth Century Studios’ “The Last Duel,” a historical epic that stars Matt Damon, Adam Driver and Ben Affleck, which cost more than $100 million to make and promote and will lose more than that after it eked out a paltry $27.4 million globally. It’s a total wash for the studio, and a sign of how D.O.A. most films that don’t feature super spies or superheroes are at the multiplexes these days. Oscar contenders such as “Spencer,” “Belfast” and “King Richard” are all struggling to attract crowds despite enjoying glowing reviews.

Edited by Bosco685
Link to comment
Share on other sites

Quote
  • BOP: There’s been a lot of discussion surrounding day-and-date and the shrinking of the theatrical exhibition window—but most of that conversation centers around how it affects major chains. How does the shortened theatrical window affect specialty theaters? And how has your relationship with streaming outfits changed over the course of the pandemic, as they move more films into the theatrical space?
  • Paul Serwitz: I don’t think it would have ever been any exhibitor’s choice, big or small, to see windows getting shortened, much less day-and-date availability. It has compromised theatrical business, there’s no question about it. However, the reality is, it’s here to stay. Streaming is the 800-pound gorilla, and Covid just amplified that exponentially. At-home consumption has become a much bigger thing, and even post-Covid it remains that way. The volume and quality of the content that’s available at home is a real challenge. At Landmark, we felt like it had to be embraced in order to meet that challenge and work with it as best we could and hope, really, that distributors—certainly beyond the streamers themselves—see that, ultimately, a theatrical window is the most valuable pathway for a film’s lifeline. We’ve seen examples of that over the last six months, both on the mainstream side and on the specialty side. Where it goes from here, I don’t know. But we’ve certainly embraced the streamers and the day-and-date situation to an extent. There’s too much good content not to play [it] theatrically and try to tap into that audience that will still get out of the home and go see a movie in a theater instead of in their living room.

 

Link to comment
Share on other sites

Quote

Global cinema box office is set for a strong recovery next year, analysis firm Gower Street Analytics predicts. But a return to pre-COVID levels of business will have to wait until 2023 at the earliest.

 

In a briefing note published Wednesday, the U.K.-based analysis firm forecasts that 2022 global box office will reach $33.2 billion. That would represent a huge 58% leap compared with its current estimate of $21 billion for 2021.

 

The running total for the current year stood at $19.2 billion, as of Dec. 11. The remaining weeks of 2021 will benefit from the release of “Spider-Man: No Way Home,” which is already enjoying a strong critical reception, and other major titles.

 

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
3 3