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\nBox Office: Existential Crisis Ahead As Hollywood Rethinks What Makes a Hit https:\/\/t.co\/aMp8nTXKxJ<\/a><\/p>\n
\u2014 The Hollywood Reporter (@THR) January 5, 2024<\/a><\/p><\/blockquote>\n
The article is long, so here’s some highlighted quotes:<\/p>\n
– One out of every five moviegoers has vanished since the pandemic, according to research compiled by one Hollywood studio. <\/p>\n
– \u201cAudiences\u2019 tastes are changing, and it feels like they want more challenging fare,\u201d says chief Comscore box office analyst Paul Dergarabedian. <\/p>\n
– \u201cEverything is so lopsided,\u201d says Wall Street analyst Rich Greenfield of LightShed Ventures. \u201cThe number of big-budget movies in 2023 that didn\u2019t make money felt like an all-time high. Consumer interest in moviegoing has been permanently altered. The question is, can theaters survive another horrific year?\u201d<\/p>\n
– Notes a top studio executive: \u201cWe are definitely going through an evolution, and we can\u2019t just keep cranking out the same old franchise fare. We have to do better. The ways we did things for decades don\u2019t work anymore; now you have to hit the bull\u2019s-eye or get close to it. And a lot of that has to do with the abundance of streaming product. When there\u2019s a multitude of options for audiences to watch at home, there had better be a special reason to go to the theater.\u201d<\/p>\n
– \u201cThe one that brought back a lot of confidence for me was Asteroid City because it showed you can still do a movie like this theatrically,\u201d says Focus chief of distribution Lisa Bunnell. \u201cWe are seeing a stronger marketplace now for specialty film, and I think you\u2019re starting to get younger folks coming to the movies to see specialty film. It\u2019s not just the established art crowd showing up now.\u201d <\/p>\n
SRC THR<\/a> via TWITTER<\/a><\/p>\n
They really need to re-adjust their expectations and lower budgets imo. The audience just isn’t there anymore. I dont think a New Hollywood 2.0 is going to happen either.<\/i><\/span> <\/p>\n<\/div>\n