The weekend box office tally has plummeted a staggering 96% compared to this time last year. The sad state of affairs for cinemas globally has been a consistent worry for cinephiles, filmmakers, and theatres alike since early last spring, when the world began to understand the severity of the COVID-19 pandemic.
Not all theatres and cinema chains have had to shut down over the disease—some have fought back against restrictions, while others have not been forced to shut their doors at all. The sole commonality among all venues, however, has been that people simply aren’t turning up in significant numbers to see films. In addition to this, Hollywood studios have had to severely curb and alter their release models, with most realizing the futility of theatrical releases at this current point. Warner Bros. created a tremendous buzz recently when the studio determined that it would release its 2021 slate of films in theatres and on subscription streaming service HBO Max on the same day. This somewhat radical move has caused concern among many, as it considerably limits the role that theatres play in hosting major releases.
But as more and more theatres make it clear that their livelihoods are at stake if current regulations and the spread of the pandemic continues, the box office tallies are more than enough proof that things are bad. The latest box office report comes via a Tweet from Box Office Guru editor Gitesh Pandya, revealing that the top 10 domestic receipts have only managed to tally $5 million over the weekend. When compared to last year’s $110.4 million total at this time last year and the $101.5 million total of the year before that, the difference is a drop of 96% and 95%, respectively. More specifically, the current drop in totals means that nine of the ten top films are averaging less than $400 per theatre.
For many, the huge drop in profits isn’t surprising at all. COVID has rearranged nearly every aspect of life around the world, and it makes sense that with lockdowns and pandemic fears alive and well, cinemas wouldn’t be doing good business. But when the actual numbers are presented in this way, and the comparison to previous (pre-COVID) years is taken into account, it’s clear that if something isn’t done very soon to remedy this sorry state, theatres are in serious trouble. Arguments have been made that cinemas are a dead format and studios now have no choice but to sever their attachments and restructure—much like Warner Bros. has. Still, a trip to the cinema is arguably at the heart of the entire film-viewing experience and to give up on it at this point is to give up on a lengthy and rich history.
Recent weeks have brought news of a COVID vaccine, and with it come hopes of a return to a world in which public life can at last return to normal. However, even if the vaccine accomplishes what is hoped of it, the time needed to inoculate global populations still remains significant. In the meantime, weekend box office totals will continue to slip, and all that can be hoped for is that cinemas can hold on a little longer—a daunting task that’s easier said than done.
Source: Gitesh Pandya via Twitter