Văn hóa - Giải trí

Four big questions for Hollywood after the Covid-19 pandemic

CinemaCon is an annual event organized by the Association of American Cinemas (“The National Organization of Theater Owners” or NATO). This is where many movie studios have the opportunity to “show off” their new and best brainchild to the box office bosses.

Four big questions for post-pandemic Hollywood - Photo 1.

CinemaCon this year takes place in Vegas. (Photo: Dealine).

This year, CinemaCon will take place in Las Vegas, studios will come here to introduce their “pets”. Bold moves like Warner Bros. is to send the entire 2021 list to HBO Max at the same time that the movies in theaters are also rolling out. According to Variety Here are four burning questions facing the movie theater business.

Does the movie make money?

There is a harsh truth that, except Spider-Man: No Way Home (US$1.9 billion worldwide), most of the blockbusters that will come out since Covid-19 premiered have not been as successful at the box office as before. That’s partly because older audiences still don’t want to go back to the cinema. It also means that while movie franchises like No Time to Die and F9: The Fast Saga among the highest-grossing films of 2021, still far behind the previous installments.

In fact, they may not be profitable when taking into account marketing costs. Another issue is the increased cost of making films during the pandemic as the crew had to take strict safety precautions. Studios say costs have added 7% to 15% to the budgets of almost every movie since 2020. This could lead to studios asking for a larger share of ticket sales… or force them to cut back on the number of movies they make for theatrical release.

Four big questions for post-pandemic Hollywood - Photo 2.

The Batman was a commercial success. (Photos from the movie).

Will geopolitical tensions hurt Hollywood?

The answer is yes. For example, China bans big movies like Black Widow or Spider-Man: No Way Home entry or agree to release at a less favorable time. At the same time, Chinese domestic products have become popular, with films such as Water Gate Bridge, The Battle at Lake Changjin and Hi, Mom attracted a large number of ticket sales. The relationship between the Chinese government and the US is at a low point, China doesn’t seem to allow many foreign films to play in domestic cinemas, which cuts off Hollywood’s access to the movie market. largest in the world and bring in potential revenue of hundreds of millions of dollars.

Then there is Russia, the sixth highest-grossing film market in 2021. Since the country broke out in war with Ukraine and sanctions went into effect, Hollywood studios have publicly stated that , they won’t release the movie there.

What other movies do audiences want to see besides superhero genre?

The Batman ($754 million worldwide to date) is possibly the highest-grossing film of the year so far. Sandra Bullock and Channing Tatum’s Romantic Comedy The Lost City is an example that illustrates how movies outside the superhero genre still attract audiences.

A new study backs that up. Movie ticketing service Fandango recently polled 6,000 ticket buyers and 93% of those surveyed said they want to see movies in a variety of genres, not just comic book adaptations.

Cinema closed?

The past two years have put many movie theater owners on edge, but most have managed to keep themselves from being “stabbed”, with only 2% of theaters in the US closing since Covid-19 raged. It’s a miracle, as cinemas have suffered from extended theater closures, followed by a seemingly endless wave of release date delays.

Still, more places are likely to close in the future, especially if domestic box office grosses don’t return to pre-pandemic levels anytime soon. Barry Diller, who once ran Paramount and Fox, has predicted that only 10% of brick-and-mortar theaters will survive as streaming becomes increasingly a priority.

You are reading the article Four big questions for Hollywood after the Covid-19 pandemic
at Blogtuan.info – Source: danviet.vn – Read the original article here

Back to top button