Because it stands, there’s just about no probability that 2024’s ticket gross sales match final yr’s. That sucks, significantly as theater chains like AMC are persevering with to attempt to dig out of the outlet that was made for them in 2020. Studios, it is price mentioning, additionally actually need theatrical income, as streaming is basically nonetheless unprofitable (save for Netflix) and cord-cutting continues to speed up. The business can ill-afford a significant downturn.
One factor that maybe is not talked about sufficient is the truth that viewers habits modified dramatically in the course of the pandemic. New films could possibly be streamed at residence due to the appearance of premium VOD, making it even much less important to move to theaters. Let’s not neglect that ticket costs are costlier than they have been in 2019 when the field workplace hit a report $11.4 billion, so even fewer persons are truly going to the flicks. What we have seen over the past couple of years, although, is the flexibility to show that tide. “High Gun: Maverick” introduced out older moviegoers en masse, whereas “5 Nights at Freddy’s” introduced out younger folks in report numbers. Hollywood should discover a strategy to preserve that momentum alive, even within the face of a barren launch calendar.
What 2024 wants is a few surprising breakout hits like 2023 had. It wants extra imported hits from abroad. It wants extra specialty programming. Studios and theaters alike must put their heads collectively and work out methods to maintain the momentum going as greatest they’ll with out as many large, new films coming till a lot later within the yr. It is simpler mentioned than achieved, however this can be a pivotal second.
Final yr ended on observe. For the nice well being of the business shifting ahead, issues mustn’t backslide too far earlier than we flip the nook and get past the approaching down interval.
I spoke extra about this on right this moment’s episode of the /Movie Day by day podcast, which you’ll be able to hearken to under:
We additionally counted down my private high 10 films of 2023, so test it out!
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