Despite an increase of a further 101 percent during 2020, going to the cinema remained well below pre-pandemic levels. According to Comscore, earnings in 2021 were roughly 60 percent lower than in 2019. Domestic income of $4.5 billion was last recorded 29 years ago, in 1992. Likewise, Comscore and the National Association of Theatre Owners remark that perhaps the 60 percent income gap over 2019 is reduced to 40 percent when several theaters do not return till the spring of 2021. The advent of streaming is now also posing a significant challenge to theatres. Up to this point, young viewers between the ages of 18 and 34, mainly young males, had fueled the rebound, with the superhero, adventure, and horror ruling the upper reaches of the annual list. The box office recovery continues to be a slow process. One of the most recent stumbling blocks is the exceedingly contagious omicron variant. The rise of streaming is also posing a significant challenge for cinemas.
As the cinema was recovering from the lasting effects of the pandemic, the surge of new variants is likely to force the movie theatres back to struggling for revenues. The box office has witnessed slow growth, and it is a continuing struggle to maintain the revenues for the year.
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Search no farther than the Spider-Man: No Way Home, the year-end Christmas extravaganza. The Sony and Marvel picture concluded with far more than $605 million in savings locally on Sunday. Still, it had already broken other milestones, including being the first production in the modern age to make more than $1 billion globally. But it was by far the most popular film of 2021, resulting in a major triumph for Sony and the economy as a whole. Five of the top ten positions on the national ranking were occupied by superhero titles, including another four. Shang-Chi and the Legend of the Ten Rings ($224.5 million), Venom: Let There Be Carnage($212.5 million), and Black Widow ($183.7 million) were the top three films, according to The Hollywood Reporter.
F9: The Fast and the Furious, a male-driven film, comes in at No. 5 locally ($1837 million), followed by superhero blockbuster Eternals ($1646 million), James Bond installment No Time to Die ($1608 million), A Quiet Place Part II ($1601 million), and Ghostbusters: Afterlife ($122 million). Free Guy, a sleeper smash, rounded out the top ten on this year’s graph ($1216 million). For perhaps the first time in recorded history, there was no single animation movie in the top ten. Families and senior moviegoers have been less inclined to return to movies. However, family members are beginning to come in greater numbers now that youngsters 5 and older may get inoculated after No Way Home, Sing 2 were the biggest hit of the year, according to News Flavor.
Over time, the hope is that the movie theatres will see more viewers and continue to support their favorite movie stars and their blockbusters, and help the theaters to overcome this dark storm looming above heads due to the pandemic.
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Sources: The Hollywood Reporter, News Flavor
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