Hollywood’s Q1 was a bust; Will CinemaCom help in Q2?

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Hollywood's Q1 was a bust;  Will CinemaCom help in Q2?

All due respect to Godzilla, but the first quarter of this year was a disappointment for Hollywood. It is not possible to avoid this. The news read like an April Fool’s joke without any punchline.

Disney had better abandon its battle with Florida, the better to face its battle with investor Nelson Peltz (which reminds the ancients among us of last century’s battle with investor Saul Steinberg, whose failed takeover bid inadvertently created the Walt Disney Company as we know it).

Paramount Global is out of debt, and Paramount+ is strangely removing some of its hot kids’ titles from the streaming mix.

AMC is looking for cash and peddling stock. The Alamo Drafthouse chain is for sale.

At the box office, the big hit of Q1 was part two of a reimagining of a science fiction novel that was very popular when I was in eighth grade — in other words, a long time ago. During the weekend, Dune: Part 2 Domestic ticket sales totaled nearly $252 million, helping bring the total box-office take to nearly $1.6 billion, boosted by strong last-minute performances. Godzilla x Kong: The New Empire, The total is only 6.4 percent less than last year’s first quarter; But this is still 45 percent less than glory years like 2017 and 2018.

For the record, Dune: Part 2 Would have been in fourth place in 2016, behind dead pool, Star Wars: Episode VIIIAnd Zootopia As of the first quarter, provided by BoxOfficeMojo.com. Thus expectations have fallen. In fact, the first quarter box-office roughly matches the situation in 2000, and that’s without adjusting for inflation.

All this, and Lou Gossett is dead.

Of course, keen observers saw the current film recession coming, as the number of planned releases declined in the wake of last year’s Hollywood strikes. So there are no surprises except the occasional tragedy. And the only real question is what can be done about it?

Maybe some answers will actually emerge next week in Las Vegas, when theater owners meet for their annual CinemaCon convention. Granted, Caesars Palace isn’t usually the place you go for deep soul-searching and strategic vision. But the great industry reboot has to start somewhere, and a gathering of exhibitors – who actually meet audiences face-to-face – is as good a place as any.

After all, AMC had the good sense to go ahead and make a hit of their own with Taylor Swift eras tour film. It wouldn’t be a bad idea to do more of this.

Or maybe something came up at CinemaCon’s Monday session about finding “power in the middle” by supporting modest-budget films. you could do worse holdover Or M3GANPictures that are placed as examples in the program notes.

Or, given that Sony is sitting out, it might be worth listening to Angel Studios’ presentation on Wednesday, April 10. the people who brought you sound of freedom Might plug some holes in the schedule, or come up with useful ideas about alternative audiences.

It’s certainly better than relying on Hollywood corporate types, who have bigger problems than movies right now, or looking to stars, many of whom would rather talk politics than promote or wait for movies. Would like it. despicable me 4Which may or may not get things started ramping up in the middle of Q2.

#Hollywoods #bust #CinemaCom
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