‘Beetlejuice Beetlejuice,’ ‘Joker 2’ and More Fall Movies Aim to Sustain Summer’s Box Office Momentum

As a seasoned cinephile who has witnessed the rise and fall of cinema trends over the past few decades, I can confidently say that the current state of the movie industry is akin to a grand buffet – an assortment of flavors to tantalize every palate. The variety on display this year, from superhero adventures to disaster epics, animation, horror, and book adaptations, is nothing short of impressive.

The cinema manager, Rick Roman, who oversees the Crowne Point Theatre in Elizabethtown, Kentucky, views multiplexes as being similar to a buffet. As he puts it, “It’s not enough to just offer a main course; you also need appetizers and desserts.”

Using a cooking analogy, Roman implies that for cinemas to flourish, they should offer a diverse mix of movie genres. Currently, he and other exhibitors are experiencing a rejuvenation during the late summer season as audiences are savoring a variety of films, ranging from action-packed superhero movies (“Deadpool & Wolverine”), animated features (“Despicable Me 4,” “Inside Out 2”), disaster flicks (“Twisters”), horror films (“Longlegs”), and book adaptations (“It Ends With Us”).

Indeed, there have been stumbles along the way, like Kevin Costner’s Western film “Horizon: An American Saga — Chapter 1” (with “Chapter 2” originally slated for an Aug. 16 release), Sony and Apple’s expensive romantic comedy “Fly Me to the Moon”, Lionsgate’s adaptation of the video game “Borderlands”. However, movie theaters are currently buzzing with optimism compared to May when anticipated blockbusters such as “The Fall Guy”, “Mad Max: Furiosa Saga” and “IF” didn’t set the box office alight for popcorn season.

“Roman mentioned he’s enjoying his summer,” he shared, “as Crowne Point Theatre initially faced a 18% decrease in revenues compared to 2023, but managed to reduce the deficit to just 8% by early August. He attributes this improvement to a diverse selection of movies catering to various age groups.”

Although the surge of this season has been delayed, the total domestic earnings are currently 16% less than last year and a staggering 28% lower compared to 2019, which was before the pandemic. As a result, Hollywood studios and cinema owners are counting on audiences attending the wide variety of films throughout the fall to help bridge the persistent gap in earnings. A prosperous autumn at the cinemas would compensate for any deficit during the holiday season, which seems to be missing major blockbusters like “Star Wars,” “Avatar,” or a superhero sequel to end the year. Instead, “The Lion King” prequel “Mufasa” and “Sonic the Hedgehog 3” are planned for release around Christmas. However, it remains uncertain if animated films will possess the universal appeal necessary to attract men, women, children, and adults during what is typically the busiest time of year for moviegoing.

“David A. Gross from Franchise Entertainment Research suggests that several films could appeal to all demographics (ages and tastes), transforming them into movies for everyone (four-quadrant films). He believes this is what the film industry requires at the moment. Moreover, he predicts that the difference in box office revenue in 2023 will lessen as we move through the rest of the year.”

In the coming weeks, movie enthusiasts are eagerly anticipating several highly anticipated films. First up is “Beetlejuice Beetlejuice” (Sept. 6), a long-awaited sequel to Tim Burton’s 1988 horror comedy, which brings back Michael Keaton, Winona Ryder, and Catherine O’Hara, with Jenna Ortega joining the cast. Another exciting release is “Joker: Folie à Deux” (Oct. 4), the sequel to the 2019 blockbuster hit, featuring Joaquin Phoenix reprising his role as Batman’s infamous adversary, Joker, alongside Lady Gaga as Harley Quinn. Other notable films in the fall lineup include “Transformers One” (Sept. 20) from Paramount Pictures, “The Wild Robot” (Sept. 27) from Universal and DreamWorks Animation, “Venom: The Last Dance” (Oct. 25), a comic book trilogy for Sony Pictures, and “Smile 2” (Oct. 18), a horror spinoff from Paramount.

“Eric Wold, a senior media analyst from B. Riley Securities, has been predicting decreases compared to the previous year each month up until September, following the strikes last year. However, his confidence has grown since the announcements of ‘Inside Out 2’ and ‘Deadpool & Wolverine’,” (paraphrased by me)

World expresses optimism based on consumer spending patterns. Notably, establishments such as AMC Theatres and Cinemark have observed customers using their credit cards for snacks and additional fees for Imax or Dolby screenings, despite inflation concerns. This suggests that people are more likely to attend movies due to the appeal of entertainment rather than financial considerations or apprehensions about contracting COVID-19, according to him.

“There’s no economic concern,” Wold says. “It’s about the slate.”

As a passionate film enthusiast, I’ve come to realize that the allure of movie theaters extends beyond just offering fresh films. My experience as the proprietor of Atlanta’s Plaza Theatre has taught me that creating an atmosphere where big-screen premieres feel like unmissable cultural events is crucial. The resounding success of films like “Barbenheimer” and the recent buzz surrounding immersive 4DX screenings of “Twisters” are testament to this fact.

According to Escobar, there’s a common belief that success is solely dependent on having new releases. However, it’s not as simple as studios merely presenting a movie and considering the job done. Instead, it involves cultivating interest and awareness among the audience. We invest significant effort in engaging viewers and gauging their preferences. Typically, a film’s marketing alone isn’t enough to achieve this goal.

As a dedicated cinephile, I’ve noticed that movie theaters have been getting quite creative in recent times. Instead of traditional popcorn containers, they’re now offering themed ones, such as memory orbs from “Inside Out 2” or Wolverine’s iconic grin from “Deadpool & Wolverine”. They’ve also been sprucing up their lobbies with eye-catching displays that are perfect for Instagram shots. Plus, they’re making sure to showcase the latest blockbusters in an enticing way.

As a fan, I wholeheartedly agree with Kristen Schiele, an associate marketing professor at USC Marshall School of Business, who emphasizes that experiences beyond the traditional movie theater – like interactive touchpoints and pop-ups – are not only captivating but also leave a lasting impression. It’s these unique moments that foster a sense of exclusivity and make us eager to be part of it, creating a genuine fear of missing out.

A year ago at this time, Hollywood’s release schedules were disrupted due to labor strikes. Fortunately, the fall season appears more promising. However, there’s a concerning decrease in wide film releases. As of now, only 58 films have been nationally released in 2024, compared to 70 at the same points in both 2019 and 2018, as reported by Comscore. Nevertheless, exhibitors like Roman emphasize that it’s more about quality than quantity.

Roman emphasizes that the key isn’t just the quantity of films produced, but rather the number of films that the public is interested in. Even if studios produce numerous movies, it won’t benefit them if the audience doesn’t show interest. Currently, he notes, there are movies that the public is eager to watch.

2024-08-21 18:17

‘Beetlejuice Beetlejuice,’ ‘Joker 2’ and More Fall Movies Aim to Sustain Summer’s Box Office Momentum

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