Stock Groups

2021’s U.S. box office trails 2019’s movie ticket sales by 70%

[ad_1]

With just two months before the end of the year, the coronavirus pandemic continues to loom large over the film industry.

Already, 2021’s ticket sales have outpaced 2020’s paltry box offices. Sales are nearly 70% lower than 2019’s $11.4billion haul. According to Comscore data, domestic ticket sales totaled $2.84 Billion as of Sunday. 

As new movies have been made available to the public and more people are comfortable leaving their home, box office revenues have increased steadily throughout the year. You can get exclusive theatrical releases such as Disney’sMarvel’s “Free Guy,” Marvels “Shang-Chi and the Legend of the Ten Rings”. Sony’sThe movie theaters of “Venom” and “Let There Be Carnage” are showing that they have a bright future, even though overall attendance is down and ticket sales remain lower than in pre-pandemic years.

These films had strong opening weekends. The second installment of “Venom”, debuted on the first weekend of October. currently holds the record for the best opening during the health crisisWith approximately $90 Million in ticket sales, These films continued to draw moviegoers. in the weeks after their debuts.

The pattern indicates that the box office will resume normal operations as soon as the threat from the coronavirus is gone and blockbuster movies continue to hit the markets.

Shawn Robbins (chief analyst, Boxoffice.com), stated that it would be an understatement to say the box-office has changed a corner.

The box office for October is currently the second highest grossing month, with two weeks left to collect. Comscore reports that theaters are already selling $415.6million in tickets in October’s first half. That puts it below July which sold $583.8million. July saw the debut of Black Widow and continued sales of tickets for “F9”, which was launched the final week of June.

“The industry continues to work on certain hurdles, such as caution with older audiences. the anticipation of vaccines for kidsRobbins stated that a significant portion of moviegoers have returned to the theaters in staggered movements over the past six months. Robbins said that it was a positive sign for theaters going into the holidays season.

Jeff Bock (Exhibitor Relations senior analyst) stated, “October was a period of rejuvenation for Hollywood. Something studios as well as exhibitors had been patiently waiting to see.” The industry’s outlook for fall is positive, as evidenced by the strong debuts.

Prior to the pandemic, the fall movie season — which encompasses October, November and December — accounted for around 25% of ticket sales each year. This 3-month span amounted to nearly $3B in 2019.

However, box-office analysts don’t believe the fall 2021 slate will match it. They are optimistic that titles like Disney’s “Eternals” and “Encanto,” however. Warner Bros.’The Matrix Resurrections, and Marvel’s Spider-Man: No Way Home will both be appealing enough to bring the 2021 box-office up to $4 billion.

Robbins explained that “Recovery is always a multi-tiered process” and said, “As strong as 2021 appears to end, 2022 has all the ingredients to take the boxoffice rebound even higher.”

Bock believes the first half of next year will be “a slow one” because there is not much to look forward to. He said that the summer is as strong as ever, comparing it to 2019,’s blockbuster lineup. This summer’s slate features new films from some of the most popular franchises including Marvel, DC, Jurassic World and Top Gun.

However, audience reactions to the pandemic were less predictable than expected. Moreover, streaming has allowed for some of the most popular blockbuster films at the same time in theaters and this has resulted in a decrease of ticket sales.

Robbins stated that “one of the most fascinating aspects of the theatrical reboot during the pandemic is the fact that young audience members are turning out strong and on a regular basis.” Many stories have been told about the decline of traditional consumer habits by young audiences before the pandemic.

Many older people, who often have children that can’t be vaccinated themselves, seem less likely to go to the movies. As vaccines are more widely available, however, this is changing. widely available to those under the age of 11This may change.

Paul Dergarabedian (commscore senior media analyst) stated that films with younger audiences have prospered, while movies aimed at older moviegoers had difficulty gaining traction. At least that’s the case for now.

Disclosure: Comcast, the parent company for NBCUniversal/CNBC is Comcast. NBCUniversal was the global distributor of “F9”, “Halloween Kills”, “No Time To Die” and “Halloween Kills”.

[ad_2]