Title: Hollywood’s Holiday Season Lacks Blockbuster as Theaters Face Uncertainty
This holiday season, movie theaters are facing a rare dilemma – the absence of a guaranteed blockbuster to cap off the year. For the first time in over a decade, excluding the pandemic-impacted 2020, there’s no surefire hit with the potential to gross $1 billion globally.
With superhero fatigue plaguing even the once-bulletproof Marvel Cinematic Universe, the highly anticipated “Aquaman and The Lost Kingdom” sequel lands in theaters on Dec. 22 as a massive question mark. The overwhelming sense of uncertainty about the movie’s success has left theater owners pondering whether it can cut through the negative DC noise.
As the holiday stretch approaches, movie theater owners are diversifying their bets, with a mix of films such as “Wonka,” “Migration,” “The Iron Claw,” and “The Color Purple.” However, these are unlikely to make up for the absence of a billion-dollar tentpole.
While the lack of a blockbuster could be a blessing in disguise for other movies to overperform, it also signals larger concerns in Hollywood. The collapse of major franchises and oversaturation of sequels, spinoffs, and reboots has left audiences craving original content.
With this year’s box office revenue surpassing 2022 but trailing behind 2019, studios are still grappling with the aftermath of the strikes and the pandemic. The release calendar remains fluid as studios figure out which strike-impacted projects will make it to the finish line on time.
For theater owners, the current holiday season comes with a glimmer of uncertainty. As studios over-rely on existing IP, audiences are seeking original content, leaving the industry at a crossroads as it looks ahead to the future of moviegoing.