As a long-time cinema enthusiast who has witnessed the evolution of the industry over several decades, I can’t help but find this trend intriguing. It seems that the international box office landscape is undergoing a significant transformation, with some films that once dominated domestic screens now struggling to make an impact overseas.
Are international audiences showing a dislike for magical best friends Elphaba and Glinda, Michael Keaton’s charismatic ghost character, and the daring group of storm chasers, headed by Glen Powell?
Despite being domestic box office hits with films like “Wicked,” “Beetlejuice Beetlejuice,” and “Twisters,” they received cooler receptions in foreign markets. This is surprising because popular blockbusters typically earn around 60% to 70% of their sales from international box offices, as seen with recent films like “Inside Out 2” (62%), “Dune: Part Two” (60.5%), and “Kung Fu Panda 4” (67.7%). Even the massive success of “Deadpool & Wolverine” was relatively evenly split, with 52.2% of its sales coming from abroad. In contrast, “Wicked,” “Beetlejuice Beetlejuice,” and “Twisters” earned only a third or less of their global gross from foreign markets. The reasons for this cooler reception could be due to difficulties in translating the source material overseas, missed marketing opportunities, or even diplomatic issues.
Recently, high-budget movies with stunning visual effects may have found greater popularity among international audiences. However, the entertainment industry has undergone significant changes since COVID-19 disrupted its usual course. In this new landscape, Hollywood has had to reduce its dependence on China, and Russia is no longer a key market.
Previously, China and the U.S. were neck-and-neck when it came to earnings from Hollywood films. However, political disputes have led China to become less welcoming towards American culture, while its domestic film industry has exploded in growth, producing blockbusters that are breaking box office records. On the other hand, Russia has largely cut off access to Hollywood blockbusters since their invasion of Ukraine in 2022, which forced many American businesses to withdraw. This closure of the Russian market significantly reduced the available foreign markets.
According to Shawn Robbins, Fandango’s director of movie analytics, there’s a significant shift in how the global film industry operates. Countries like China and Russia, which were once major markets, are no longer as they used to be. The pandemic and political unrest have caused some countries to prioritize their local films instead of imports. As a result, Hollywood studios find it challenging to predict the international success of their movies accurately.
As a movie enthusiast, I’ve noticed that films like “Wicked,” “Beetlejuice Beetlejuice,” and “Twisters” seemed to resonate more deeply with audiences in the U.S. compared to other regions. These movies were not only well-known but also cherished, making it a challenge for them to gain traction overseas, even if the landscape of the film industry hadn’t been altered by the pandemic and global conflicts.
The musical ‘Wicked’ has achieved great popularity in the U.S., mainly due to its long-running Broadway show and multiple touring productions. However, it hasn’t been as widely performed in other regions around the globe. Musicals are generally more successful in English-speaking nations such as the UK and Australia, which have contributed approximately half of the international earnings for ‘Wicked.’ Despite challenges in markets like China and France, studio executives have reportedly not reduced spending in areas where the film was expected to perform poorly. This is because they believe that next year’s sequel ‘Wicked: For Good’ may outperform its predecessor as foreign audiences become more familiar with the story of two witches whose friendship faces trials, and as the popular soundtrack becomes more common.
According to Jeff Bock, senior analyst at Exhibitor Relations, these movies sometimes need a bit of time before they become popular. However, since the reviews are positive and audiences seem to enjoy it, word-of-mouth recommendations will likely increase.
The sequel to a nearly 40-year-old comedy, ‘Beetlejuice’, which didn’t usually earn more abroad when it was first made, explores a storyline that isn’t as well-known in international markets. Since the original film made almost all of its profits in the U.S., many were skeptical that the crude ghost would resonate with audiences outside America this time.
Despite expectations, the summer blockbuster “Twisters,” a sequel to the 1996 disaster film “Twister,” saw lower-than-anticipated overseas ticket sales. This is surprising because the original movie actually performed better internationally than domestically, with over 51% of its total gross coming from foreign audiences, compared to just 27% for “Twisters.” Contrastingly, “Twisters” earned around 73% of its revenue from North American viewers. Given its action-packed nature and the early release overseas to avoid competition with “Deadpool & Wolverine,” some industry experts believe that Warner Bros.’ marketing team may have missed an opportunity to capitalize on the appeal of Powell and the impact of immersive 4DX screens, a strategy successfully employed by Universal Pictures in North America. (Universal Pictures distributed the movie domestically, while Warner Bros. handled international distribution.)
The three films in question – “Wicked”, “Beetlejuice Beetlejuice”, and “Twisters” – did not expand their popularity beyond primarily Caucasian audiences in North America, which is crucial for blockbusters aiming to achieve four-quadrant success. Initially, these films attracted about 50% white viewers, while movies like “Moana 2” and “Deadpool & Wolverine”, which appeal to a broader audience, had approximately 35% of their opening weekend crowds being Caucasian. To put it simply, without such diverse appeal, a film cannot transcend cultural boundaries and resonate with various populations worldwide.
Despite not setting new international box office records, “Twisters,” “Beetlejuice, Beetlejuice,” and “Wicked” have proven to be some of the most successful films of the year. These productions could signal a shift towards studios prioritizing U.S. audiences more intensely in the future. The Trump administration’s trade policies are causing concerns about trade wars, movie studios are producing fewer films, and ongoing actors and writers strikes have disrupted releases, leaving markets like France to focus on filling the gaps with their own local productions.
Robbins points out that a decade ago, global markets dominated the box office, but there’s a possibility they might shift back to favoring domestic markets once more,” he suggests. “It’s likely we’ll witness similar trends in the future.
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2024-12-19 01:47