Posted on 12/14/2020 12:11:28 PM PST by EdnaMode
Due to the pandemic, thousands of cinemas in North America have been dark for the better part of nine months, while those that have reopened are operating at dramatically reduced capacity.
Mid-December is usually a launching pad for yuletide-fueled holiday blockbusters. That isn't the case this year as Hollywood and theater owners grapple with the ongoing COVID-19 crisis and a virtual nine-month standstill in moviegoing that will result in the worst showing for domestic ticket sales in at least four decades.
Case in point: There were no new wide releases at the North American box office over the Dec. 11-13 weekend. Universal and DreamWorks Animation's The Croods: A New Age topped the chart for the third consecutive weekend with a mere $3.2 million — a veritable fortune during the pandemic — for a domestic total of $24.5 million.
Preliminary estimates show North American movie ticket sales for 2020 inching toward $2.3 billion. That would be the lowest showing since the early 1980s, if not the late 1970s, and that's before adjusting for inflation. Box-office tracking didn't begin in earnest until the early '80s, so sourcing is complicated, although the Motion Picture Association shows domestic revenue hitting $4 billion for the first time in 1984.
Presently, domestic revenue for 2020 stands at around $2.2 billion, according to Comscore. That's down roughly 80 percent from 2019, which ended up at $11.4 billion.
Foreign ticket sales are hovering around $9 billion, thanks to a full-blown recovery in Asian markets including China, Japan and South Korea. Last year, global ticket sales hit a record $42.5 billion; this time around, it will be down at least 70 percent.
(Excerpt) Read more at hollywoodreporter.com ...
Capitalism/woke economics at work.
Disney made it up on streaming, and then some
I doubt we’ll ever see another movie at a theatre...we don’t go to many as it is...
ping
40 years huh? Isn’t that about the time that the last original thought was made into a movie? Also, every movie wasn’t a skin flick back then. Also, they didn’t have preschoolers cursing like career Navy men. I didn’t notice a whole bunch of creepy homosexuals starring as leading men (at least the ones that were, ahem Rock Hudson, hid it well).
*sniff*
No, it's because all the theaters were forcibly shut down.
MAYBE they need to start making movies about:
Homosexuals struggling to be accepted
The evils of Fracking and Man-made Climate Change
Interracial Marriages and acceptance
The Evils of Conservatism
Christian activism as hatred
GO FOR IT Hollywood! It is the only way back.
Out of all the sour business news in the communist states, a ray of sunshine.
Unfortunately the lefties have plenty of money they can hold out for a very long time, then continue their anti-male, anti-straight, anti-America, and anti-God films in a year or so.
Good! Let all of those pedophiles do real work.
excellent? I get my royalty checks anyway. However, big studios DEPEND heavily on box office revenues and streaming services.
Define box-office.
Most major movie and music production companies own stakes in online streaming services.
They are still taking in money. Movie theater or desktop, it makes no difference to them. With music they realized that they can even bump the numbers and have “platinum” albums with ZERO sold product.
Their streaming revenue is good, but their churn rate is not.
Were they expecting something different?
Presently, domestic revenue for 2020 stands at around $2.2 billion, according to Comscore. [...]
Foreign ticket sales are hovering around $9 billion, thanks to a full-blown recovery in Asian markets including China, Japan and South Korea. Last year, global ticket sales hit a record $42.5 billion; this time around, it will be down at least 70 percent.
Let China make up the difference since Hollywood seems to be on their side against America
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