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2021 U.S. box office revenue exceeds 2019 movie ticket sales by 70%

Just two months before the end of the year, the coronavirus pandemic continues to have a major impact on the entire film industry.

Ticket sales in 2021 have already exceeded the box office revenue in 2020. However, sales lag behind the $ 11.4 billion shipment in 2019 by nearly 70%. As of Sunday, domestic box office revenue was $ 2.84 billion in ticket sales, according to Comscore data.

Box office revenues have improved steadily throughout the year as new movies are available on the big screen, making it more comfortable for spectators to get out of the house. Exclusive theatrical releases such as Disney’s “Free Guy”, Marvel’s “Shang-Chi and Tenling Legend”, and Sony’s “Venom: Let There Be Carnage” are cinematic, even with overall attendance and tickets. Proving that there is a future Sales are less than the time before the pandemic.

These movies had a good weekend opening. The sequel to Venom, which debuted on the first weekend of October, currently holds the record for the best opening during the health crisis, with ticket sales of about $ 90 million. Even better, these titles continued to captivate movie fans in the weeks following their debut.

This pattern suggests that box office revenues will return to more normal levels as the coronavirus threat disappears and major blockbusters continue to enter the market.

Sean Robins, Chief Analyst at Boxoffice.com, said:

With two weeks of sales still in place, October’s box office is the second highest-selling month of the year. According to Comscore, the theater already recorded $ 415.6 million in ticket sales in the first half of the month, below July sales of $ 583.8 million. In July, “Black Widow” was released, and “F9”, which debuted in the last week of June, was sold as a continuous ticket.

“The industry continues to work to overcome certain obstacles, such as the attention of the elderly and expectations for vaccines for children, but the majority of viewers who go to the movies have been in the last six months. In the meantime, we’re back with a tremendous wave, “says Robins. He added that it was a promising sign for the theater heading for the holiday season.

“October was a rejuvenating time for Hollywood, a long-awaited studio and exhibitor,” said Jeff Bock, senior analyst at Exhibitor Relations. “Autumn outlook is heading in the right direction, as evidenced by the overwhelming number of strong debuts.”

Before the pandemic, the fall movie season, including October, November, and December, accounted for about 25% of ticket sales each year. In 2019, that three-month period reached about $ 3 billion.

Boxing analysts don’t expect the fall 2021 slate to match, but they’re confident in titles like Disney’s Eternals, Encanto, and Warner Bros. The Matrix Resurrections, Sony and Marvel’s Spider-Man: Noway Home, are attractive enough to reach box office revenue of around $ 4 billion in 2021.

“Recovery is always a multi-layered process, powerful enough to be seen at the end of 2021, but it can further increase box office revenue in 2022,” Robins said.

However, Bock expects to be a “slogan” in the first half of next year as there are few major releases at the beginning of the year. However, summer seems to be “as strong as ever” and is likened to the 2019 blockbuster lineup. Summer Slate includes new releases from major franchises such as Marvel, DC, Jurassic World, Top Gun, Fantastic Beasts, Minions and Transformers.

Still, during the pandemic, the audience was less predictable, and ticket sales were cannibalized as several blockbuster features became available in the theater and streaming at the same time.

“One of the most interesting aspects of the theater’s reopening during a pandemic was the fact that it had a very large and consistent appearance of young audiences,” Robins said. “Before the pandemic, there were stories about how young consumers departed from so-called traditional habits, instead of a bunch of content distribution platforms across social media and streaming.”

Older generations, many of whom have children who cannot be vaccinated, now seem less likely to go to the theater. However, this can change again as the vaccine becomes widely available to people under the age of 11.

Comscore senior media analyst Paul Dergarabedian said, “Movies that appeal to the younger generation are thriving, but movies aimed at more mature movie fans struggle to gain traction. I’m doing it. ” “At least for now”

Disclosure: Comcast is the parent company of NBC Universal and CNBC. NBCUniversal has distributed “F9” and “Halloween Kills” globally and “No Time To Die” internationally.

2021 U.S. box office revenue exceeds 2019 movie ticket sales by 70%

Source link 2021 U.S. box office revenue exceeds 2019 movie ticket sales by 70%

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