Friday, August 6, 2021

THR REPORTS WORST BOX-OFFICE PLUNGE IN 30 YEARS

July 24, 2014 by · Leave a Comment 

With only six weeks left in the summer season, it now appears that the 2014 box office will be down 15-20 percent from 2013, making it the worst year-over-year decline in 30 years, the Hollywood Reporter observed today (Thursday). Revenue may fall below $4 billion, something that hasn’t occurred since 2006, it further noted. Not a single film will cross the $300-million mark at the domestic box office. Nearly all the tentpole sequels this year have earned less than their predecessors, THR noted — the sole exception being being X-Men: Days of Future Past,which has earned about $230 million versus $146 million for 2011’s X-Men: First Class. The trade publication quoted veteran box-office analyst Paul Dergarabedian of Rentrak as saying, "Moviegoing begets moviegoing, and we have lost our momentum. … People aren’t seeing trailers and marketing materials. They still want to go to the movies — they just want to go to really good movies." Overseas, the box office remains strong, but not strong enough to overcome domestic shortfalls, according to the Reporter.