More than a month into the summer movie season, one thing has become clear: Many of Hollywood’s sequels, reboots and reimaginings are falling flat.
Some films have missed analysts’ forecasts by tens of millions of dollars. They include last weekend’s new releases — Walt Disney Co.’s “Dark Phoenix” and Universal Pictures’ “The Secret Life of Pets 2.” Though Paramount Pictures’ “Rocketman” topped studio forecasts, the Elton John biopic came in below outside estimates. Warner Bros.’ “Godzilla” sequel also missed industry projections.
So far, the shortfall hasn’t claimed any of the summer’s biggest tentpole films. And Eric Wold, an analyst at B. Riley FBR, still expects higher ticket sales through the balance of the year to deliver a record 2019. But the results also show that fans are getting pickier about the glut of sequels that Hollywood studios have force-fed movie moviegoers for years.
“Audiences are savvy enough to wait for the home market, especially with so many great streaming choices this summer,” said Jeff Bock, an analyst with Exhibitor Relations Co. “That’s something Hollywood will be contending against for years to come.”
Sequels and reboots need to be more compelling to draw in fans, Bock said. “Many of them aren’t upping the ante or raising the stakes significantly enough,” he said.
Hollywood studios have turned movie serials, now dubbed franchises, into an art form — with film series built around comic-book figures, action-hero revivals and classic cartoon characters. And no one has been more successful at this task than Disney.
Kansas Senate rivals distance themselves from party leaders in fiery debate
Omar Wouldn’t Say For Sure Her Ex-Husband Wasn’t Her Brother: ‘Not to My Knowledge’
Mass firings vow sparks clash with Klobuchar over Walz fraud legacy
Trump warns Democrats ‘want to burn it all down’ in South Carolina pitch
Abdul el Sayed, Mike Rogers clash over MAGA, Muslim Brotherhood in final Michigan Senate debate
Florida attorney accused of threatening to shoot ICE agents while trying to buy gun
Is ‘Ilhan Omar’ a Fake Name? New Court Filing Identifying Omar’s Alias Has Americans Questioning Her Real Name
El-Sayed erupts at GOP rival over Muslim Brotherhood accusations in fiery Senate debate
California Driver Crashed While Watching X-Rated Content – Police Say She Killed a Retired Sunday School Teacher
DOJ urged to investigate Slotkin over threats to young professionals seeking work in Trump administration
Retired NYPD detective charged with murder in George Washington Bridge shooting of Con Ed worker: officials
France in flames is preview of what ‘DSA’ Democrats want for US, senator warns
Popular Food Delivery App Will Pay Millions After DOJ Says American Gig Workers Were Discriminated Against
Records Show Minnesota’s Democratic Senate Nominee Peggy Flanagan Lied About Her Past: Report
US pulls personnel from Saudi Arabia as kingdom comes under Houthi fire
Second Place
But even Disney’s biggest hits aren’t doing quite as well as predicted. The Marvel finale “Avengers: Endgame” racked up $2.73 billion in box-office sales globally and looked likely to dethrone “Avatar” as the top-grossing movie of all time. Now — following a drop-off in attendance — it will have to settle for second place.
“It looks like ‘Avatar’ will hold onto the title,” Bock said, “unless Disney snaps their fingers and springs an alternate ending re-release in the near future.”
Bock cites a number of reasons for all of the misses. No one cared about the humans in “Godzilla,” he said, and “The Secret Life of Pets 2” didn’t “bring anything new to the table.”
Missing estimates in a debut weekend doesn’t necessarily mean a feature won’t be profitable. Movies like “Rocketman,” with smaller production budgets, are expected to make money.
‘Dark Phoenix’
“Dark Phoenix,” an X-Men film, is emerging as one of the summer’s bigger duds. It suffered from production and story problems, along with muddled marketing that left audiences confused by the trailer, Bock said. The film cost about $200 million to make, plus tens of millions more to market, suggesting it will have trouble turning a profit.
Kansas Senate rivals distance themselves from party leaders in fiery debate
Omar Wouldn’t Say For Sure Her Ex-Husband Wasn’t Her Brother: ‘Not to My Knowledge’
Mass firings vow sparks clash with Klobuchar over Walz fraud legacy
Trump warns Democrats ‘want to burn it all down’ in South Carolina pitch
Abdul el Sayed, Mike Rogers clash over MAGA, Muslim Brotherhood in final Michigan Senate debate
Florida attorney accused of threatening to shoot ICE agents while trying to buy gun
Is ‘Ilhan Omar’ a Fake Name? New Court Filing Identifying Omar’s Alias Has Americans Questioning Her Real Name
El-Sayed erupts at GOP rival over Muslim Brotherhood accusations in fiery Senate debate
California Driver Crashed While Watching X-Rated Content – Police Say She Killed a Retired Sunday School Teacher
DOJ urged to investigate Slotkin over threats to young professionals seeking work in Trump administration
Retired NYPD detective charged with murder in George Washington Bridge shooting of Con Ed worker: officials
France in flames is preview of what ‘DSA’ Democrats want for US, senator warns
Popular Food Delivery App Will Pay Millions After DOJ Says American Gig Workers Were Discriminated Against
Records Show Minnesota’s Democratic Senate Nominee Peggy Flanagan Lied About Her Past: Report
US pulls personnel from Saudi Arabia as kingdom comes under Houthi fire
So far, summer sales are up about 14%, according to Wold. That’s helped theater owners recover from a sharp decline earlier in the year. For 2019 to date, domestic sales through last weekend were down 6% from a year earlier, according to Comscore Inc.
“Sequels can obviously be successful — there wouldn’t be 20 of them this summer if Hollywood thought otherwise,” Bock said. “However, the ones that have opened below expectations were ill-conceived and/or flimsy films. In other words: lazy sequels.”
Wold said a successful summer season hinges on a few big releases still to come: “The Lion King” and “Toy Story 4” from Disney, a “Fast and Furious” spinoff from Comcast Corp.’s Universal studio, and a new “Spider-Man” release from Sony Corp.
“You’ve got at least four titles through the remainder of the summer period which should do very well,’’ he said.
To contact the reporter on this story: Anousha Sakoui in Los Angeles at [email protected]
To contact the editors responsible for this story: Nick Turner at [email protected], Rob Golum
Story cited here.
