Movie promoters still face “grave risks,” the Los Angeles Times reported Tuesday.
Attendance was on the decline even before the pandemic shuttered theaters, thanks to changing consumer habits and competition for time and money from other entertainment options. The industry has shown an over-reliance on Imax-enabled studio action tent poles, even though movie theater chains need a rich and diverse lineup of movies to grow… It remains to be seen whether global box office revenues will return to their previous levels. Days of over $40 billion before 2019. A clearer picture will likely emerge in 2025, when the writers' and actors' strikes are even more in the past. But overall, there's a strong case that despite the lingering difficulties, moviegoing has proven relatively robust.
Which brings us to this year's CinemaCon convention. There, multiplex operators were heard teasing blockbuster movies from Hollywood studios, including: Joker: Folie à deux, Furiosa: Mad Max Saga, transformers oneand deadpool & wolverine.
While the box office begged major studios to release films of various budgets on the big screen, studios insisted their future schedules were solid enough to keep them in business…with the U.S. Canadian box office revenue is expected to total $20 million, down from $9 billion in 2023 and a far cry from pre-pandemic annual totals of nearly $12 billion…even more in 2025. A full release schedule is expected, but budget cuts and increased industry consolidation are being talked about. Corporate mergers are forcing exhibitors to prepare for the possibility that there will be fewer studios and fewer films produced in the near future.
With the domestic movie business in turmoil in recent years, Japanese films and faith-based content have been a savior for movie theaters. Industry leaders opened CinemaCon on Tuesday with praise for the hit films of Sony-owned animation distribution company Crunchyroll, including its latest film “Demon Slayer.” Mitchell Berger, Crunchyroll's senior vice president of global commerce, said Tuesday that the global anime business generated $14 billion a decade ago and is projected to generate $37 billion next year. “Anime is really hot right now,” Berger said. “Fans have known this for years, but now everyone else is catching up and realizing it's a cultural and economic influence that can't be ignored…” Now Another type of product that is energizing the trade show industry is faith-based programming. “Sound of Freedom'' distribution company Angel Studios led in large part…
Theater owners have urged CinemaCon studio executives to show more movies in theaters rather than just pitching big-budget tents for the summer movie season and holiday season. [blockbuster] Bill Barstow, co-founder of Nebraska's ACX Cinemas, said movies already have established records, whether it's Barbie or Super Mario, “but we don't have enough of them.” added.