When Steven Spielberg’s West story Opening with a dismal $10.6 million at the domestic box office over the weekend of December 10-12, Hollywood looked disappointed. Follow-up question: How quickly would the musical be streamed if it didn’t recover in theaters?
West story hardly the only film that has come into the spotlight of the dramatically altered landscape that has seen the theatrical market become a shell of its own because of the pandemic, at least for anything. What is not a superhero movie or a similar movie? Free boy that could appeal to younger male audiences between the ages of 18 and 34. Every studio is now figuring out how early to ship movies to the streaming service to boost subscribers or boost high VODs. grant.
Before the pandemic, theater owners could request an exclusive theatrical show that lasted between 74 and 90 days. No more. As the country emerged from the pandemic, the deadline adopted by many in Hollywood was 45 days. Furthermore, nothing can stop a studio from abandoning the ship and sending a title home sooner depending on its performance (in fact, Paramount sent Snake eyes to PVOD on the 21st after it was bombed this summer); conversely, a hit movie can only hit theaters in the last 45 days if it performs well.
“The 45-day theatrical run seems to strike the perfect balance between the prestige and exclusivity that only the first theatrical model can offer while acknowledging that most films take the lead. market share in terms of box office receipts within the first few weeks of its release,” says Comscore’s Paul Dergarabedian.
“There are no more cookie cutting methods,” chooses one studio executive. “Personally, I believe in the theater window, and there are movies that should be shown day in and day out. Winding is becoming more and more complicated. “
The studios, in turn, have announced that they can ship most of their 2022 movies to their sister streaming services as early as 45 days, although Disney remains the mom on a mainstream basis. awake. Warner Bros. Batman, which doesn’t share a March 4 date, could benefit from not coming out day in and day out in theaters and on HBO Max, much like the studio’s 2021 releases. And Universal has made it clear that the new streaming plan won’t apply to promotional films next summer Jurassic World: Dominion and Minions: The Rise of Gru.
Many of the films that will hit Peacock over the 45-day period are action shots for adults – including a group photo of Jessica Chastain 355 — and adult TV series, highlighting the uncertain future facing any movie that isn’t a superhero movie or a major franchise. Spider-Man: There’s no way home (December 17) could open north of $130 million, as an example. “We should just rename all theaters Marvel,” quipped another studio executive.
Throughout the different phases of the pandemic, study after study has found that audiences over the age of 35, and especially older women, are the most reluctant to return to theaters. Gucci house, currently in theaters, is one of the few adult titles that has performed relatively well at the box office after attracting even younger consumers (the Ridley Scott film starring Lady Gaga) . The film grossed $22 million over the five days of Thanksgiving, including $14 million over the three-day weekend. West story had hoped to match that three-day figure, but played significantly larger, with 26% of ticket buyers over the age of 55.
Insiders say there are ongoing talks about when to send West story Come home. One reason it’s only showing in theaters after 45 days is the Oscar nominations, which will be announced on February 8 (more imminent, the film is also hopefully a Christmas break). Another reason is Spielberg himself; he is a fierce champion of theatrical experience. However, sources say that he actually came up with the idea that the old window has the ability to close permanently and that West story will be at home much sooner than in any of his previous films.
West story is from the 20th Century, submits its movies to HBO Max even though it is now owned by Disney. But under a new deal, 20th Century titles can now also premiere on Disney+ or Hulu. West story is expected to be among those that do, enhancing its visibility from a streaming perspective.
When it announced this year that it would send many of its movies to Paramount+ as early as 45 days, the studio included Mission Impossible in that group but not Top gun: Maverick. Both films star Tom Cruise, who, like Spielberg, is a fierce theatrical champion and should have given in on some films. Another source said, “Sometimes, it’s all about talent.”
Based on next year’s lineup, as well as how strong Spider-Man: There’s no way home London-based analytics firm Gower Street released its 2022 box office estimates on Thursday.
Worldwide ticket sales are expected to hit $33.2 billion, a 58% spike from this year’s estimate of $21 billion. Gower said the film industry will likely have to wait until 2023 to see revenue hit pre-pandemic levels of $40 billion.
North America will see the most notable increase and regain its position as the No. 1 film market in the world (China was No. 1 last year and this year).