2019 Box Office Revenue Down Estimated 9.4 Percent Midyear | THR News - video Dailymotion

The summer season so far has been rougher than expected, as proven franchises underperform and original hits are nearly extinct.

Transcript

00:00Do we have a plan?

00:01You know, sometimes you have to trust your gut.

00:05The 2019 box office has been feeling the blues lately and the summer season

00:09rollouts have not been helping. Analysts who are counting on another record year were

00:13hopeful that summer blockbusters would stabilize box office numbers after a rough

00:17winter and spring. But there hasn't been much luck. Ticket sales for the summer

00:21season are down 7.3 percent following underperforming franchises like Godzilla

00:26King of Monsters which earned $106.5 million domestically compared to $207 million

00:31for the 2004 version, Men in Black International which earned $65 million in its first

00:37three weekends and won't come close to matching the first two films in the series,

00:40and The Secret Life of Pets 2 which grossed $131.2 million to date, while the first

00:46Pets grossed an impressive $346.8 million.

00:50But box office analyst Paul Dergarabidean of Comscore isn't giving up just yet, saying

00:55that he's, quote, trying to stay optimistic, but I thought we would catch up a lot

00:58quicker. For every two steps forward, we're going three steps back.

01:01The only silver lining to the box office fatigue has been the Disney empire.

01:05The studio, which now owns Fox, currently commands 40 percent of domestic market

01:09shares and there's hope that an upward trend will continue in the coming weeks with the

01:13release of The Lion King on July 19th and the continued run of Toy Story 4.

01:18So far, four of the top grossing 2019 movies in North America belong to Disney.

01:22Avengers Endgame with $841.3 million, Captain Marvel with $426.8 million,

01:28Aladdin with $305.9 million and Toy Story 4 with $236.9 million.

01:35In 2018, the domestic box office revenue clocked in at nearly $11.9 billion,

01:40which was an all-time best. Box office experts still believe that revenue for 2019 could

01:45reach the same level of films such as Spider- Far From Home, The Lion King, Quentin Tarantino's

01:50Once Upon a Time in Hollywood, Frozen 2 and Star Wars The Rise of Skywalker, among other

01:55big franchises, perform as well as they hope. One studio executive says,

01:59"...it's all about making good movies. There have been franchises that have excelled this

02:02summer, such as Avengers and John Wick. Those that have fallen short have more to do with

02:06the movies themselves than having to do with them being a sequel."

02:09For more box office updates, head over to THR.com and until next time, for The Hollywood Reporter News,

02:13I'm Neha Joy.