A week ago, the National Association of Theatre Owners minced no words, releasing a statement that slammed Disney’s decision to offer “Black Widow” on demand at the same time it was showing in cinemas. It’s hurting the opening numbers, too.”Īll of this uncertainty has left exhibitors concerned and angry at studios for continuing to tinker with distribution strategies after the worst of the lockdowns are seemingly over. “You’re not just seeing it in movies’ second weeks. “There’s clearly a lot of cannibalization going on,” says Handler.
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Less scrupulous consumers are turning to piracy to access new releases - the availability of “Black Widow” on video on demand, for instance, also caused a surge in illegal downloads of the Marvel film, just as it did previous day-and-date blockbuster releases from Disney Plus and HBO Max. Nearly half of the people who were uncomfortable returning to cinemas cited anxiety over COVID-19 variants as the primary cause.īut concerns over the coronavirus’ transmissibility isn’t the only reason for the box office doldrums. In a recent survey of consumers by the National Research Group, 74% of respondents indicated that they’re comfortable going to the movies - a five-point drop in just the past week and the worst result since early June. That choice may be getting easier to make as COVID rates climb back up and the Delta variant causes a handful of breakthrough infections in vaccinated groups. Handler notes that less passionate cinephiles had no trouble skipping theaters, opting instead to shell out a few bucks to watch Scarlett Johansson’s Natasha Romanoff save the world from the comfort of their living rooms or pony up the cost of an HBO Max subscription in order to catch LeBron James team up with Bugs Bunny. “But the ramp up from here looks like it’s going to be slower than we hoped.” “The avid moviegoers who want to go to the movies are coming back,” notes Eric Handler, an exhibition industry analyst with MKM Partners.
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The “Space Jam” sequel was showing in cinemas at the same time it was streaming for free on HBO Max. In a sign of the new world order, “Black Widow” debuted simultaneously in theaters and on Disney Plus, where it was available to rent for $30. A worsening public health picture - one exacerbated by anti-vaccine conspiracy theories - and a maze of day-and-date distribution strategies that appear to be cannibalizing ticket sales, are raising questions about the viability of a theatrical comeback.īoth Disney’s “ Black Widow” and Warner Bros.’ “ Space Jam: A New Legacy” suffered steeper-than-normal declines in their second weekends of release, with revenues falling more than 70% after opening to stronger-than-expected results.
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Instead, the movie theater industry is spending the second half of popcorn season, the term for the escapist fare that pops up in multiplexes from May through August, grappling with an all-too-real situation.
Those dreams may be deferred, at least for a few more months. Movie theater owners had hoped that shots in the arms and declining COVID rates would lead to a box office revival this summer.
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