Hollywood's Self-Inflicted Box Office Problems
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There’s been a lot of gnashing of teeth in recent weeks because the box office has been so sluggish, most notably the failures of The Fall Guy and Furiosa, which both painfully underperformed in their opening weekends and beyond.
The Fall Guy had such bad box office numbers it actually went to VOD 17 days after premiering in theatres. Not good for a movie boasting two “movie stars” and a gigantic marketing push.
If one were to look at the dismal box office results this Spring and come away thinking the sky is falling, that would be understandable.
Ever the optimist, let me put your mind at ease though regarding the sky is falling pessimism. The sky isn’t falling regarding the movie business…because it’s already fallen. Many will point to last year’s duel strikes as a reason for this year’s box office gully…but that misses the big picture.
The movie business, like American empire, is a dead man walking. That doesn’t mean it’ll vanish off the face of the earth and never be seen again…no, it just means that it will continue its descent into irrelevancy year after year after year until a giant asteroid comes and wipes us off the earth.
The reasons for this are numerous but here are a few of the major ones.
The corporatization of Hollywood that began in the Reagan years is now complete. The corporate mindset has destroyed the mid-level budgeted movie in favor of blockbuster hunting, and that has led to bloated budgets, and bad movies. The stark decrease in the quality of cinema is pretty dramatic (with notable exceptions).
Another issue is that movie theatres and the theatre-going experience are both abominable. Theatres throughout the country, thanks again to corporate short-sightedness, are equipped with sub-par projectors which result in a greatly diminished viewing experience. Why go to the theatre and pay all that money when you can have a better visual experience at home on your big screen tv in a darkened living room?
As Sartre once taught us…hell is other people…and that is never more apparent than when you go to the movies. Dipshits and dumbasses talking and looking at their phone throughout a screening makes for a very tense and distracting movie going experience….another issue that is resolved by watching a movie at home.
Add to this that very, very few movies are so culturally compelling that people NEED to see them right away in order to stay in the loop. Barbie and Oppenheimer filled that bill last Summer, but those are definitely outliers. For example, would you be “out of the cultural loop” if you didn’t see Dune II in theatres this winter? It’s now streaming on Max just a few short months after premiering in theatres and you can watch it without all the bullshit of theatres, in the comfort of your own home…and go to the bathroom when you want without missing anything and not have to tell people to shut the fuck up or put their phones away. Will a big budget film like Dune II be diminished at a home theatre? One would expect the answer is ‘yes’ as it was made to be seen on a big screen…but considering when I saw it at a movie theatre I felt like I was watching it under three feet of water because the projector sucked so bad, my answer would be no.
The same is true of Furiosa. I like the Mad Max movies, but I’m not itching to go see Furiosa in the theatre because it isn’t mandatory in order to stay current culturally. So, I’ll see it when it comes to Max in a few months…or sooner.
The same is true for the glut of Marvel movies. For the longest time Marvel movies were must-see because everyone was talking about them….and now they’re not. Marvel movies ran its course but Disney keeps cramming them down our throat expecting the same results. I’m sorry but The Marvels isn’t moving the needle. No one cares.
Speaking of Marvel and Disney, another issue is that the massive success of the Marvel movies pre-2020 totally skewed the expectation IN HOLLYWOOD for what constitutes a successful movie.
Marvel movies routinely hit the billion-dollar mark and that became the standard for success. But that was then and this is now and studios and analysts are delusional about the box office potential for most movies. And that delusion gets baked into the cake regarding the budget for films.
Once again Barbie and Oppenheimer were outliers in this regard, and ironically have done more harm than good in regards to setting expectations for studio executives (and the general public).
For example, spending over $300 million to make a new Indiana Jones movie or Mission Impossible movie, is frankly nuts since neither of those creaky franchises are going to generate the kind of interest that will satiate a billion-dollar box office yearning.
The same is true for the new Marvel movies, as the stars of that franchise and the characters they played, are gone. Robert Downey Jr. as Tony Stark is not walking through that door…and I’m sorry but Brie Larson isn’t going to fill that void.
The solution to the Hollywood problem is to change the corporate strategy, and instead of trying to make a billion dollars with a single blockbuster that costs at a minimum $250-300 million to make and another$150-250 million to market, is to make six or seven medium budget films for $50 million or less each with a focus on quality, in the hopes that one of those movies will hit big and fill the coffers.
Examples of what I’m talking about are movies like Parasite, which costs $15 million to make and brought in $262 million at the box office. I understand that Parasite is a remarkable movie from a brilliant filmmaker, but it shows what is possible.
The same is true of movies like Spotlight, which had a $20 million budget and made $98 million. Or even Good Will Hunting, which starred nobodies (Affleck and Damon) and was directed by a non-mainstream guy (Gus Van Sant) on a $10 million budget and raked in $225 million.
The key of course is that the movies have to be good and they have to avoid bloated budgets. The other benefit of making good movies is that more often than not if you make a good movie, it will get Oscar recognition and thus free marketing and a second life at the box office.
It goes without saying that Hollywood will not change its approach if for no other reason than corporations are allergic to actually thinking. And so, the studios will continue to relentlessly bang their heads against the bank vault door in the hopes one of these times it’ll open, even if just for a moment…like it did with Barbie and Oppenheimer, but if Barbie and Oppenheimer type success only comes along every five years or so, that won’t work as a business model.
The bottom line is that Hollywood fucked up their business and fucked up movies in the process…and we are all paying for it and will continue to pay for it for years to come. As a cinephile it gives me no pleasure in saying this but movies, much like popular music, is essentially dying as an artform and is too beholden to corporate interests to be able to save itself.
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