Top line
The summer box office has so far been marred by a series of near misses and poor sales that have caused it to significantly underperform compared to last year’s blockbuster season – and big releases June is not expected to shake things up dramatically as the industry heads toward an overall less-than-stellar year.
Bilall Fallah, Will Smith, Martin Lawrence and Adil El Arbi attend the European premiere of ‘Bad … (+)
Highlights
The summer movie season, which runs from the first Friday in May through Labor Day, is about a quarter of the way through, but gross box office sales of new releases ($583.8 million dollars) represent only about one-eighth of last year’s summer drawing total. of $4.03 billion, according to Box Office Mojo.
Summer 2023 was the first summer to break the once-reliable $4 billion mark since the COVID-19 pandemic decimated the industry — largely because the movie release schedule was on its side — the 15 highest-grossing films of the year have all been released. this summer, including the No. 1 film “Barbie,” which nearly doubled the domestic gross of the No. 2 film (“Spider-Man: Across the Spider-Verse”) with $612.3 million in box office revenue.
Without a Marvel movie to kick off the season — the first summer without a movie since 2009 — and with lackluster performances from hits like “Furiosa: A Mad Max Saga” and “Argylle,” analysts predict the summer movie season will barely clear the bar of $3 billion, CNBC reported, on its way to an $8.2 billion year, down nearly 8% from last year.
June will see the release of three big films that could make a dent if they succeed, but even if they meet projections, they are not expected to be the big turning point that could save the season: “Bad Boys: Ride or Die” ( June 7) is expected to gross $50 million to $70 million, “Inside Out 2” (June 14) is on track to gross $80 million to $85 million in its first weekend and “A Quiet Place: Day One” (June 28). ) is expected to gross between $45 million and $55 million in its opening weekend.
To monitor
Some of the summer’s biggest movies are set to release later this season. If “Despicable Me 4” (July 3) is anything like its predecessors, it is expected to gross between $56 million (“Despicable Me”) and $83.5 million (“Despicable Me 2”). ) – the third installment of the franchise. landed in the middle, making $72 million in box office sales in its opening weekend. The season’s presumed blockbuster, “Deadpool & Wolverine” (July 26), is expected to gross more than $300 million in its first four weeks and has already done so. racked up $8 million in first-day ticket sales in early May.
Large number
From 40 to 75 million dollars. That’s how much smaller June releases are expected to gross on their opening weekends, according to Box Office Pro. M. Night Shyamalan’s latest film, “The Watchers,” will be released June 7; “The Bikeriders” starring Jodie Comer, Austin Butler and Tom Hardy is scheduled for June 21 and Kevin Costner’s “Horizon: An American Saga” could gross as much as $40 million in its opening weekend beginning on June 28.
Surprising fact
“Furiosa: A Mad Max Saga” was the highest-grossing film of Memorial Day weekend, narrowly edging out “The Garfield Movie” to become the lowest-grossing Memorial Day weekend film in nearly 30 years . “Furiosa” grossed $32.3 million, compared to $31.2 million for “Garfield,” the least a major box office film has grossed over a holiday weekend since 1995.
Further reading
Gn headline
News Source : www.forbes.com
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