Box Office: How Covid Turned Safe Blockbusters And Cynical Sequels Into Underdogs

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Here's how Covid turned safe blockbusters and cynical sequels into underdogs:

Michelle Rodriguez and Vin Diesel in 'F9', Scarlett Johansson in 'Black Widow,' Tom Cruise in 'Top Gun: Maverick', LeBron James and Zendaya in Space Jam: A New Legacy and Daniel Craig and Ana de Armas in 'No Time to Die'snagged the biggest domestic launch sincein December 2019 are almost self-explanatory. The incredibly popular franchise is focused on unapologetic action-packed escapism featuring marquee characters amid a soap opera-like storyline.

The current normal is worse than my “darkest timeline” prediction. With Wall Street seemingly prioritizing streaming revenue over theatrical profits, we may be approaching a point where the biggest of big movies are more valuable as cogs in the streaming wars even as the actual rate-of-return revenue on a per-film basis far exceeds subscriber bumps for almost any high-profile feature film. Evenhas quadrupled its $39 million budget in global theatrical release.

sequel to hoping they put audiences’ butts in multiplex seats. It would be bad enough if this were a normal summer and we would be hoping that the likes of David Lowery’swould offer hope for the validity for non-franchise fare. But now, especially withdown for the count, we’re all in a position to treat even the halfway decent theatrical grosses of what otherwise would be the safest and/or most cynical IP-specific flicks in town as a kind of triumph for Hollywood.

Maybe Wall Street will see a few “as huge as expected” theatrical blockbusters and realize that theatrical moviegoing and streaming can coexist. Maybe even an original franchise likewill explode overseas on the fourth go-around and make folks stake more stock in the value of a cinema-first smash. Or maybe Covid will exacerbate the trends brought about since late 2015/early 2016.

 

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