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.
Medicaid provider allegedly billed $165K for dead patient’s rides among fraud exposed in explosive report
Former Republican House Speaker Dennis Hastert dead at 84
Russian researcher who studied plague died of mysterious illness: What to know
WATCH: Hasan Piker Reminds James Talarico About His Liberal Puppet Masters: ‘He’s Got to Play Ball’
Arizona State cheerleader charged after confrontation with police caught on viral video
Coast Guard Issues Sad Announcement on Search for Downed Medical Plane Near Nantucket
Catholic schools, banned rifles and ‘climate lawfare’: Blockbuster fights await Supreme Court
California realtor accused of spying for China caught at LAX and more top headlines
Green New Deal Lovers Beware: Senate Deal Would Cut the Six-Year Stall on Pipelines and Gas Plants to 150 Days
WATCH: GOP senators skeptical of Bill Gates’ ‘fearmongering’ AI warning as Dems sound alarm
Meet the AI doomsday death cult connected to a cross-country killing spree
Democrat, Leftist Ties to Suspected Serial Killer, Violent Pornographer Emerge as House of Horrors Case Grows
From doubted to dominant: Fox News turns 30 and looks to the future
Wall Street has a new rival, and it’s deep in the heart of this southern state
AI is supercharging political ad wars. But viral doesn’t mean victorious
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.
Medicaid provider allegedly billed $165K for dead patient’s rides among fraud exposed in explosive report
Former Republican House Speaker Dennis Hastert dead at 84
Russian researcher who studied plague died of mysterious illness: What to know
WATCH: Hasan Piker Reminds James Talarico About His Liberal Puppet Masters: ‘He’s Got to Play Ball’
Arizona State cheerleader charged after confrontation with police caught on viral video
Coast Guard Issues Sad Announcement on Search for Downed Medical Plane Near Nantucket
Catholic schools, banned rifles and ‘climate lawfare’: Blockbuster fights await Supreme Court
California realtor accused of spying for China caught at LAX and more top headlines
Green New Deal Lovers Beware: Senate Deal Would Cut the Six-Year Stall on Pipelines and Gas Plants to 150 Days
WATCH: GOP senators skeptical of Bill Gates’ ‘fearmongering’ AI warning as Dems sound alarm
Meet the AI doomsday death cult connected to a cross-country killing spree
Democrat, Leftist Ties to Suspected Serial Killer, Violent Pornographer Emerge as House of Horrors Case Grows
From doubted to dominant: Fox News turns 30 and looks to the future
Wall Street has a new rival, and it’s deep in the heart of this southern state
AI is supercharging political ad wars. But viral doesn’t mean victorious
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.
