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 The exhibition industry, a sector of the film business reliant
on the communal experience, has been the one institution
reluctant to entirely close its doors amid the ongoing public
heath crisis. Prior to Friday, fears of coronavirus didn't
appear to impact moviegoing. But this weekend's box office
results display that significantly fewer people are going to
their local multiplex.
Ticket sales in North America hit the lowest levels in over two
decades, generating roughly $55.3 million between Friday and
Sunday. Only one movie, Disney-Pixar's "Onward," made more than
$10 million over the weekend. The last time revenues were this
depressed was a weekend in mid-September of 2000 ($54.5
million). The steep decline pushed the year-to-date box office
down almost 9%, according to Comscore.
Domestic receipts were inevitably going to plummet this weekend
because AMC and Regal, two of the biggest movie theater chains,
and several other circuits like Alamo Drafthouse and Arclight,
cut capacity in individual auditoriums by 50% to avoid crowding.
Reducing the number of tickets sold per theater helped
multiplexes comply with Center for Disease Control and
Prevention recommendations for "social distancing." Theaters
also kept room between rows and seats to ensure patrons had
ample space.
So in all, low ticket sales were a combination of audiences
staying home and theaters capping seating capacity.
"The impact of this unprecedented situation was apparent across
many industries," said Paul Dergarabedian, a senior media
analyst with Comscore. "Of course, movie theaters, amidst
reduced capacity and an ever-evolving set of circumstances, had
a very challenging weekend."
Last weekend's champion, Disney-Pixar's "Onward," remained the
No. 1 movie at the domestic box office, as three new films
opened to varying degrees of disappointment. "Onward" pulled in
$10.5 million in its second outing, a brutal 73% decline from
its inaugural weekend. After two weeks of release, "Onward" has
made $60.8 million in North America and $101 million globally.
Faith-based drama "I Still Believe," from Lionsgate and Kingdom
Story Company, pulled in the biggest haul among newcomers and
placed second on box office charts. The film, starring KJ Apa as
Christian singer Jeremy Camp, earned $9.5 million from 3,250
theaters, slightly below expectations. "I Still Believe" was
directed by brothers Andrew and Jon Erwin, whose last
collaboration, 2018's "I Can Only Imagine," debuted to $17
million and ended up grossing $86 million. "I Still Believe" has
an "A" CinemaScore and is performing strongest in the south and
midwest. Among opening weekend audiences, 74% were female and
73% were over the age of 25.
Sony's superhero thriller "Bloodshot," starring Vin Diesel,
launched at No. 3, bringing in $9.3 million from 2,861 venues.
Though only slightly behind the studio's projections, it's still
a disappointing result for a film that cost $45 million to
produce. "Bloodshot" -- which earned a "B" CinemaScore from
audiences -- was co-financed by Columbia Pictures, Bona Film
Group and Cross Creek Pictures. Diesel has had trouble
attracting crowds to non-"Fast and Furious" endeavors, although
in this case, the virus certainly didn't help draw ticket
buyers.
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"The Hunt," an R-rated political satire from Universal and Blumhouse,
came in fifth place with $5.3 million from 3,028 locations, about
half of what was expected heading into the weekend. It carries a $14
million price tag. "The Hunt" had been the subject of controversy
since it was initially slated for last September. But Universal
scrapped its release in wake of three mass shootings, as well as
intense media scrutiny after President Donald Trump criticized it on
Twitter. The film, meant to poke fun at the divide between red and
blue states, follows elites who kidnap and prey on average Americans
for sport. In an early trailer, those being hunted were referred to
as "deplorables." Universal turned the turmoil into a marketing
play, calling it the "most talked about movie of the year that
nobody has seen... yet." However, once moviegoers did watch "The
Hunt," they seemed somewhat apathetic. It has a "C+" CinemaScore and
a 54% average on Rotten Tomatoes.
"The Hunt" came in behind fellow studio release, "The Invisible
Man," now in its third frame. The Elisabeth Moss-led sci-fi thriller
generated $6 million, enough for the No. 4 spot. So far, "The
Invisible Man" has a cumulative tally of $64.4 million in the U.S.
and Canada and $122 million worldwide.
Though most theaters in North America remain open to some degree,
China, South Korea, Italy and other areas greatly impacted by
coronavirus have either completely or partially have shuttered
multiplexes for weeks. The mass closures have already resulted in
billions of dollars in lost revenues.
In light of concerns over coronavirus, exhibitors in the U.S. that
stayed open for business took extra precautions to increase
sanitation. That included sterilizing seats, arm rests and cup
holders more frequently and disinfecting all hand-contact surfaces
during peak times.
Studio executives and media analysts recognize the global box office
is in uncharted territory, with crucial developments unfolding at a
rapid pace. By last Thursday, most major Hollywood films that were
set to hit theaters over the next two months -- including Disney's "Mulan,"
Paramount's "A Quiet Place Part II," Universal's "Fast 9" and MGM's
"No Time to Die" -- had been removed from release calendars as the
virus's infection rate continues to increase. That means even if
theaters do keep the lights on, the volume of content available will
have dramatically shrunk.
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