There’s a lifeline for movie theaters’ supply problem — if studios will embrace it
produced such hits as “Jurassic World Dominion,” “Doctor Strange 2” and “Minions: The Rise of Gru”? The fact is, the banner performances of titles like “Maverick” have helped obscure the crisis brewing for the theatrical business.in the coming months. But they should be even more concerned about what will happen next year.
Additional films could, of course, be added to the schedule in the months ahead, but it’s unlikely there are many major releases not currently on the slate that will ultimately be released in the first half of 2023. That means next year will look an awful lot like this year: The first six months of 2022 produced just 41 widely released films.
The top 10 highest-grossing films made up 64 percent of the domestic box office total this summer; “Maverick” alone made up more than a fifth. Tentpoles were, of course, increasing their overwhelming dominance at the box office even before the pandemic. Yet this analysis ignores the fact that mid-budget hits are still happening. This year’s “Elvis,” “The Lost City” and “Nope” each cost between $65 million and $85 million and have all grossed more than $100 million domestically. Even Blumhouse’s latest low-budget horror play, “The Black Phone,” scrounged up almost $90 million.
One that’s been frequently touted of late is “Prey,” the newest addition to the “Predator” franchise, which scored Hulu’sfor any movie or TV show. Horror, particularly IP-based horror, has performed strongly even in the current box office climate; look to January’s new “Scream” entry, which grossed over $81 million.
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