With July bringing the summer into full force, more than half of 2019 has come and gone already. For Hollywood, the industry has seen a slew of blockbuster-level films go live, but it seems consistency has not been key with their outings.
As it turns out, the box office is struggling despite the best of predictions, and the summer hasn’t been keen on turning the tide.
Recently, The Hollywood Reporter put up a new article breaking down revenue of the domestic box office to date. The latest report breaks down earnings through June 30, and it confirms overall revenue is down about 9.4% from last year.
Oh, and as for ticket sales? They do not seem to be faring any better as they’re done just over 7% year of year.
"I'm not giving up yet, and am trying to stay optimistic. But I thought we would catch up a lot quicker. For every two steps forward, we are going three steps back," box office analyst Paul Dergarabedian of Comscore told the website.
So far, a slew of meandering franchises have hit Hollywood where it hurts at the box office. Lackluster earnings from Godzilla: King of the Monsters, Men in Black: International, and even Toy Story 4 didn’t match up to box office expectations. Original films took even harder hits with critical successes like Booksmart failing to reel in audiences.
Still, there is one studio bringing in the big bucks, and that would be Disney. The entertainment empire not only acquired Fox this year, but it owns about 40% of the domestic market share. These figures were raked in thanks to hits like Avengers: Endgame and Aladdin. And with the release of The Lion King on the horizon, analysts are sure Disney will come out as the box office winner this year.
After all, four of this year’s top-grossing domestic films belong to Disney. Avengers: Endgame is in the clear lead with a whopping $841 million while Captain Marvel, Aladdin, and Toy Story 4 follow. When the global box office is added to these totals, Disney is well over $4 billion with just four films.1comments
While this mid-year report is not a positive ones, analysts says they are not giving hope on a stellar box office return in 2019. A slew of anticipated films are still to come like Spider-Man: Far From Home, Joker, Once Upon a Time in Hollywood, and Star Wars: The Rise of Skywalker. So, there is time yet for revenue to turn around for Hollywood.
So, why do you think the box office has struggled this much in 2019 so far? Let me know in the comments or hit me up on Twitter @MeganPetersCB to talk all things comics and anime!
Disclosure: ComicBook is owned by CBS Interactive, a division of ViacomCBS.