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.
Court filings reveal Kyrsten Sinema had sex multiple times with married bodyguard while serving as senator
Justice Thomas reveals this elite institution is ‘off limits’ to him: ‘That’s the world we’re in’
‘Spider-Man: Brand New Day’ is a slog for the uninitiated
Military Identifies 2 Soldiers Killed in Texas Helicopter Crash Earlier This Week
Shooting Rocks University Campus as School Prepares for Classes to Resume
Companies Back Down After Red State AG’s Debanking Probe
He’s Baaaack: Platner Returns to Political Spotlight as His Replacement Deals with a Domestic Violence Allegation of His Own
Nearly One-in-Six Americans Have Acted on AI Medical Advice Without Speaking to Human, Poll Shows
Florida cold case suspect allegedly confesses to 1987 murder and reveals secret crime-scene details
Virginia State University shooting: At least 5 injured, one critically
ICYMI: Judge Shuts Down Democrats’ Attempt to Rush in Late Votes After Candidates Drop Out
Top Dem operative brushes off latest scandal plaguing Maine Senate candidate as ‘salacious gossip’
Lindsay Clancy murder trial becomes social media obsession as TikTokers, sleuths debate controversial case
Killer ex-cop executed for child’s slaying as sheriff says he’s sure same monster murdered another girl
Gun rights gets ‘greatest restoration’ in 100 years with latest Trump DOJ move, lawmaker hails
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.
Court filings reveal Kyrsten Sinema had sex multiple times with married bodyguard while serving as senator
Justice Thomas reveals this elite institution is ‘off limits’ to him: ‘That’s the world we’re in’
‘Spider-Man: Brand New Day’ is a slog for the uninitiated
Military Identifies 2 Soldiers Killed in Texas Helicopter Crash Earlier This Week
Shooting Rocks University Campus as School Prepares for Classes to Resume
Companies Back Down After Red State AG’s Debanking Probe
He’s Baaaack: Platner Returns to Political Spotlight as His Replacement Deals with a Domestic Violence Allegation of His Own
Nearly One-in-Six Americans Have Acted on AI Medical Advice Without Speaking to Human, Poll Shows
Florida cold case suspect allegedly confesses to 1987 murder and reveals secret crime-scene details
Virginia State University shooting: At least 5 injured, one critically
ICYMI: Judge Shuts Down Democrats’ Attempt to Rush in Late Votes After Candidates Drop Out
Top Dem operative brushes off latest scandal plaguing Maine Senate candidate as ‘salacious gossip’
Lindsay Clancy murder trial becomes social media obsession as TikTokers, sleuths debate controversial case
Killer ex-cop executed for child’s slaying as sheriff says he’s sure same monster murdered another girl
Gun rights gets ‘greatest restoration’ in 100 years with latest Trump DOJ move, lawmaker hails
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.
