For Warner Bros., the news isn’t all that bad as “Tenet” has performed admirably abroad. Launched internationally in late August, the film has grossed over Rs 5,205 million globally so far. For domestic theaters, however, “Tenet’s” rough street puts significant strain on an industry that needed a blockbuster to lure moviegoers back to the Cineplex.
With no other major films on schedule until at least November, U.S. Theaters come in movies in a heavy fall season.
“There’s no way around this,” Jeff Boke, a senior analyst at entertainment research company Exhibitor Relationships, told CNN Business; The outlook for theaters over the next seven weeks is unclear. “The most terrifying summer of 2020 will be a terrible fall.”
Boke added that without any major films, theaters “basically left for them to book library titles and alternative materials.”
“This will not be a good end for chains or independent theaters, many of which will operate at a loss. Although there is no major blockbuster until November – although it is not arranged in remote stone – theaters will have to make the unfortunate choice of closing again or limiting their operating operating time By. ”
Other theatrical films such as “Unhinged” and “The New Mutants” also failed to attract audiences, which had a disappointing effect on box office fees this past week. The domestic office x fee came in at just 15 15 million this week, a number “not enough to cover operating costs,” according to Tom Brugman of Indianwire.
So is there any hope for theaters on the near horizon? Robert Robbins, chief analyst at Boxxfis.com, believes the industry will gain much-needed momentum if significant markets such as New York City and Los Angeles open up.
“That open market presence certainly wouldn’t hurt,” Robbins said. “Combined, they contribute 10% to 15% of the average mainstream film’s domestic box office fees. Depending on the performance of” Tenet “alone, those markets alone will not immediately normalize office office revenue. However, what they did Maybe the idea of reopening is to galvanize. ”
Robbins noted that theaters “rely heavily on word of mouth from suburban and urban areas” to demonstrate the safety and availability of returning to theaters.
However, there are no promises that theaters will be opened in those cities that the audience will want to return to, BBK said.
He said there would be a slight increase with the launch of NYC and LA, but doubted that it would heal the brunt of office fees through office vignettes.
What about streaming?
Then there is the streaming option.
Following Disney’s decision to release “Mulan” on Disney +, the studio will be able to decide whether it is less risky to release a film digitally than in theaters right now.
“There’s no way of streaming right now in North America,” Bock said. “This is not a solution that will be set in stone going forward, but it is the best solution for reality right now.”
With streaming numbers close to the West, the impact digital releases can have on the film’s bottom line is difficult, but Bock believes that streaming can work in tandem with theaters, at least in time.
“The studio needs to offer other options right now,” he said. “In the rest of the world, studios may be able to break away from traditional releases, but locally, we’re in a quandary, and reaching potential customers is about delivering content safely and most effectively. [premium video on demand]. Or a combination of PVOD and theater. “
Nothing major is coming to theaters
Still, with no major releases for weeks, the industry is looking forward to November when the latest James Bond film “No Time to Die” is set to open. After that, the much-anticipated and often delayed “Wonder Woman 1984” marks the beginning of the Christmas holiday season. There are two films to open in theaters in late October, from 20th Century Studios and Sony Animation’s “Connected,” with “Death the Not the Nile,” but those films are not at the level of franchise films that open in November and December.
However, if there is a comeback in theaters, it could do worse than films starring James Bond and Wonder Woman.
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