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Movie Theaters Gear Up for Extended Strike and Delayed Blockbusters This Holiday Season

28 October 2023
3593
2 min.
6
Movie Theaters Gear Up for Extended Strike and Delayed Blockbusters This Holiday Season

Box Office Disrupted

The October box office, a prelude to Halloween's spookiness, found an unexpected savior in the form of unconventional releases. Without the star power of Taylor Swift and the allure of Martin Scorsese's "Killers of the Flower Moon," cinemas might have resembled ghost towns. These releases, one backed by a major streaming service and the other by an exhibitor, were a breath of fresh air for an industry facing a myriad of challenges.

The Lingering Strike

Hopes for the resolution of SAG-AFTRA and studio contract disputes by October's end have been dashed. The persistent strike is hindering stars from promoting new films, causing exhibitor anxiety.

Box Office Figures

The domestic box office stands at $7.5 billion, a 17.1% dip from 2019 but 25.6% ahead of 2022. Projections hover around $9 billion, subject to the performance of 2023's remaining tentpole releases, with notable delays impacting expectations.

Future Prospects

The absence of guaranteed hits and lower expectations for Disney's "The Marvels" raise concerns. Yet, a diverse mix of content promises to keep theaters busy from Thanksgiving to New Year's.

Alternative Trends

Ongoing strikes have encouraged pop stars like Beyoncé to explore concert films, potentially igniting a trend. Taylor Swift's "Eras Tour" sets a positive precedent.

Staying the Course

Some films maintain their original release strategies, including "Aquaman and the Lost Kingdom," "Wonka," and "The Color Purple."

Optimism Amid Challenges

There's hope for the post-strike period, minus the COVID-era safety concerns. Challenges lie ahead as a backlog of projects competes for resources.

Upcoming Film Shuffle

Many upcoming films may encounter hurdles in their race to completion, and delays are almost inevitable. Paramount's "Mission: Impossible 8" has already been pushed to 2025, and studios are likely to postpone other 2024 summer blockbusters that have not yet wrapped up filming.

Future Adjustments

Studios are considering shifts in release dates for 2024 titles, such as "Wise Guys" and "Beetlejuice 2." This transition might lead to a domino effect of delays in the industry. Titles like "Deadpool 3," "Venom 3," and "Twisters" face uncertainties unless production resumes in the next few weeks.

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