Member News Category: Box Office

Headlines Newsletter, 10/4/2024

Release Calendar

Deadline: Paramount Dates & Shifts Slew For 2025: Glen Powell’s ‘Running Man’, ‘Smurfs’, ‘Naked Gun’, ‘Vicious’ & More

Paramount is making some big shifts on the 2025 release calendar, the biggest title date being Edgar Wright’s reboot of The Running Man starring Glen Powell. The pic is going the Friday before Thanksgiving next year, Nov. 21.

Running Man will race against Wicked: Part Two on that date as well as Angel Studios’ David and a Warner Bros. event movie.

In regards to this year, their awards season contender, September 5 is now opening Nov. 29 limited before getting a Dec. 13 expansion. Previously, the Venice and Telluride world premiere pic was set to go on Nov. 27. The Tim Fehlbaum directed movie starring Peter Sarsgaard, John Magaro, Ben Chaplin, Leonie Benesch follows what happens the ABC Sports TV control booth has to contend with a live act of terrorism during the Munich Olympics.

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Headlines Newsletter, 9/26/2024

NATO

This Week on the Boxoffice Podcast: NATO COO Lou DiGioia on Cinemas’ Investment in the Future

[Boxoffice:] Let’s talk about the big news that came in: Theater owners announcing that they’re going to be investing more than $2.2 billion back into the cinematic experience. Can you give us a little bit of context on this? What does that $2.2 billion figure mean, exactly?

[Lou DiGioia:] Let’s put that $2.2 billion into context. That’s eight of our top members, so it’s not the entire industry. What’s important to note is that the reason we put out this release was to raise awareness about the investments that are being made throughout the entire exhibition industry. We had the data point for the top eight, so that’s why we used that in the release. But understand, it is not just eight chains that are investing in themselves. It’s all of them, and we’re really excited about that. It’s a trend that we heard when we would talk to our members; what we kept hearing people saying was, “We’re investing, and we’re investing in lots of different ways. Certainly, great sight and sound is very important. But there are lots of investments beyond that, in seating, in the facilities, in HVAC, in carpeting, in concessions. All of these things help make a better experience for moviegoers, no matter where they go. That’s what we want. That’s what our members want. They want to make this experience as amazing as it can be for all of their audiences. I’m glad that people are responding to this release, because this is great news for the industry.

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Chicago Tribune: Column: The nation’s movie theaters are getting a $2 billion makeover. Now it’s up to the movies to make it pay off.

Chris Johnson serves as regional representative and executive board member of NATO as well as the CEO of Downers Grove-based Classic Cinemas and its 141 screens in 16 Illinois and Wisconsin locations. I asked him why, coming off that 13% drop after the summer of Barbenheimer, NATO is pushing the familiar, optimistic tale of moviegoing’s resilient future.

He acknowledged the challenges ahead. He remembers 2020 and the eerie, unwanted main attraction titled the pandemic all too clearly. His banker didn’t want to lend Johnson money to help keep Classic Cinemas afloat: “I was told, ‘Yeah, I think your industry’s done.’”

But it wasn’t. Classic Cinemas stayed afloat and has sailed through harsh economic weather better than most theater chains.

Every year, he tells me, the company spends at least $5 million on reinvestment. “Every single year. We’re committed to it. And when we’re hit with all sorts of cost increases, from supply and labor expenses, we try not to pass it on to the guest.”

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Headlines Newsletter, 9/20/2024

Exhibition

Press Release: Theatre Owners To Invest More Than $2.2 Billion In The Cinematic Experience

“There is no question that movie fans of all ages love heading to the local theatre to see great movies on the big screen. But the competition for consumers’ hard-earned dollars is fiercer than ever,” said NATO President & CEO Michael O’Leary. “Going to the theatre is an unparalleled entertainment experience, and exhibitors are dedicated to making every visit to their theatres memorable.  This investment reflects that commitment in a tangible way that every moviegoer will see and enjoy.”

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Deadline: Top Cinema Chains Will Spend $2.2 Billion Over Three Years To Upgrade Theaters As Box Office Accelerates

A group of exhibitors in the U.S. and Canada will invest more than $2.2 billion over the next three years to upgrade and modernize their theaters amid renewed optimism at the box office after a battering by Covid and Hollywood strikes, said industry trade group NATO.

The chains, representing over 1,600 locations across all 50 states and Canada, include AMC Entertainment, Regal Cinemas, Cinemark USA, Cineplex, Marcus, B&B Theatres, Harkins Theatres and Santikos Entertainment. Together they handle 21,000 screens and 67% of the North American box office.

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Distribution

Variety: Amazon Joins Motion Picture Association, as Entertainment and Tech Converge

Amazon will become the newest member of the Motion Picture Association next month, adding its tech industry clout to the Hollywood lobbying group.

Amazon is both a streamer and a traditional studio, operating Prime Video and MGM Studios, which it bought for $8.5 billion in 2021. Its decision to join the MPA is a symbol of the convergence of entertainment and Big Tech, which were separated by a sharp divide not that long ago.

“Amazon’s mission is to entertain customers around the world with compelling film and television,” said Mike Hopkins, the head of Prime Video and Amazon MGM Studios. “In order to do that, we must support storytellers, while also helping to sustain a robust entertainment industry that works for both studios and our creative partners. We are proud to join the MPA and its member studios in their collective efforts to protect creators, content, and consumers worldwide.”

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Headlines Newsletter, 8/20/2024

Distribution

Axios: Scoop: Edgar Bronfman Jr. raises $5.5B to bid for Paramount

Edgar Bronfman has raised a total of $5.5 billion for a bid for Paramount Global’s parent, National Amusements Inc. (NAI), a source familiar with the process tells Axios.

The big picture: Bronfman submitted an initial $4.3 billion bid Monday night to meet a deadline that would put his offer in for consideration. He plans to submit a higher bid in the coming days.

State of play: The bid could scuttle an $8 billion agreement struck last month between Paramount and Skydance Media.

  • It would also draw out an already long and complicated sale process for Paramount. NAI, which controls 77% of Paramount’s voting power, began talking with Skydance about a deal last December.

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Headlines Newsletter, 7/3/2024

Distribution

Deadline: Back In Business: Skydance And Shari Redstone Reach Terms On New Merger Proposal For Paramount

In a stunning reversal, David Ellison’s Skydance Media and Paramount Global controlling shareholder Shari Redstone have returned to the M&A altar.

The companies have reached terms on a revised merger agreement for Redstone’s National Amusements Inc. just three weeks after Redstone abruptly pulled out of a planned combination, multiple people familiar with the talks told Deadline. NAI controls almost 80% of voting shares in Paramount.

A special committee of Paramount’s board of directors, which was formed to evaluate strategic options for the troubled media company, is currently reviewing the updated deal terms, according to sources. The Wall Street Journal earlier Tuesday reported on the revived discussions.

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Domestic Box Office

The Hollywood Reporter: Marvel’s ‘Deadpool & Wolverine’ Tracking for Record $160M-$165M Debut

Three weeks out, Deadpool & Wolverine’s claws are looking plenty sharp.

The Marvel Studios movie — the third outing in the celebrated superhero franchise that’s the brainchild of star Ryan Reynolds — is tracking to open to at least $160 million to $165 million domestically over the July 26-28 weekend, with plenty of upside. That would be the best start of the year to date, as well as the biggest launch ever for an R-rated title. It would also be a needed boost for the Marvel Cinematic Universe and the superhero genre in general.

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Los Angeles Times: How the power of the Minions and Gen Z propelled the ‘Despicable Me’ franchise

“All these big family titles will help,” said [Francisco] Schlotterbeck, whose chain [Maya Cinemas] has five locations in California and one in Las Vegas. “It’s pretty important to have these kind of very well-known franchises.”

Theaters are preparing for all kinds of Minions fans to flood the gates this weekend. Dine-in theater chain Cinépolis Luxury Cinemas USA plans to raffle off themed baby carriers that hold a popcorn bucket to tie in with supervillain Gru’s new role as a dad, said Luis Olloqui, company chief executive.

“Having the previous ‘Minions’ movie was really good, in terms of performance,” he said. “We saw that excitement among the people going to the movie dressing up and making it more of an event. This time, we are expecting kind of the same.”

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Headlines Newsletter, 7/2/2024

Release Schedule

Variety: ‘Wicked’ Moves Up Release Date, Will No Longer Open Against ‘Moana 2’

“Wicked,” Universal’s film adaptation of the hit Broadway show, is landing in theaters on Nov. 22 — five days ahead of schedule.

It was originally supposed to open on Nov. 27, the same day as Disney’s “Moana 2.” On its new release date, “Wicked” is smartly avoiding a box office battle royale against another movie musical that appeals to a similarly female demographic. Now, “Wicked” will get a jump on the Thanksgiving holiday, but it won’t be completely devoid of competition. The film is set to debut on the same day as Paramount and Ridley Scott’s historical epic “Gladiator II,” though there’s presumably much less overlap in the audience and thus, a threat of cannibalization.

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The Hollywood Reporter: Snoop Dogg-Produced ‘1992,’ Starring Tyrese Gibson, Lands Summer Release

Lionsgate is going back to the early 1990s this summer, with help from Tyrese Gibson and Snoop Dogg.

The company announced Monday that it will release director Ariel Vromen’s crime thriller 1992 in theaters Aug. 30. Snoop Dogg has boarded the feature as executive producer through his Death Row Pictures production company, with Gibson (known for the Fast & Furious franchise) starring alongside Scott Eastwood and the late Ray Liotta in one of his final movie roles.

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Headlines Newsletter, 6/25/2024

Release Schedule

Variety: ‘Freaky Friday 2’ Set for Theaters in 2025; Lindsay Lohan and Jamie Lee Curtis Reunite in Behind-the-Scenes Look as Filming Kicks Off

Lindsay Lohan and Jamie Lee Curtis are finally back together on set as Disney has released a first behind-the-scenes look at the production of “Freaky Friday 2,” which is officially now filming. Lohan and Curtis are reprising their roles of Anna and Tess Coleman, respectively.

Disney has not yet announced plot details for the follow-up to the 2003 comedy favorite, but the studio has now confirmed “Freaky Friday 2” will open in movie theaters in 2025. Rumors the sequel might be exclusively for Disney+ are not true. The original film grossed $160 million in theaters worldwide.

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The Hollywood Reporter: New Yorgos Lanthimos Movie ‘Bugonia’ Gets 2025 Release Date

Bugonia, Yorgos Lanthimos’ next film to star Emma Stone and Jesse Plemons, will be released wide in the U.S. on Nov. 7, 2025, Focus Features said on Tuesday.

Universal Pictures will release Bugonia internationally, excluding Korea, where CJ ENM will handle the local release. The film, written by Will Tracy, follows two conspiracy-obsessed men who kidnap the high-powered CEO of a major company, convinced that she is an alien intent on destroying planet Earth.

Bugonia sees Lanthimos leave his recent home of Searchlight Pictures, which has released many of his films, including the Oscar winners Poor Things and The Favourtie as well as the upcoming Kinds of Kindness. Lanthimos’ latest movie is based on the South Korean sci-fi comedy, Save the Green Planet!, written and directed by Jang Joon-Hwan and produced by Sidus.

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Variety: ‘Nobody 2’ With Bob Odenkirk Lands ‘The Night Comes for Us’ Director Timo Tjahjanto, Filming to Start Late Summer

Bob Odenkirk is back for more “Nobody” — this time with a different director.

The sequel to the 2021 action thriller will be helmed by Timo Tjahjanto, the Indonesian director known for “The Night Comes for Us” and “May the Devil Take You,” as well as the horror thrillers “V/H/S/2” and “V/H/S/94.” Tjahjanto is also one half of the filmmaking duo the Mo Brothers, alongside Kimo Stamboel. Together, they have written and directed the films “Macabre,” “Killers” and “Headshot.”

From Universal Pictures, “Nobody 2” will begin production in August. It’s set to premiere Aug. 15, 2025. Sources say Connie Nielsen will return as Becca Mansell, the wife to Odenkirk’s lead. No other casting has been announced.

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Distribution

Variety: Paramount Global Co-CEOs Have Hired Bankers to Evaluate Asset Sales, Tell Employees They’ve Identified Areas for Job Cuts

Paramount Global‘s trio of co-CEOs provided an update Tuesday at a town hall for the company’s more than 20,000 employees on where things stand with their plan to cut costs, boost revenue and pare down debt after a potential merger with Skydance was called off.

The three execs — George Cheeks, president and CEO of CBS; Chris McCarthy, president and CEO, Showtime/MTV Entertainment Studios and Paramount Media Networks; and Brian Robbins, president and CEO of Paramount Pictures and Nickelodeon — were installed as co-CEOs after Bob Bakish’s dismissal in late April.

At the June 25 town hall, which kicked off at 10 a.m. Pacific at the Paramount Theatre on the studio’s lot in L.A., the execs addressed a key topic of concern among the rank and file: layoffs and other measures aimed at achieving $500 million in annualized costs, which the trio laid out at the June 4 annual shareholder meeting. According to the co-CEOs, since then, they have made progress to eliminate duplicative job functions, with work well under way across corporate functions like legal and corporate marketing, sources tell Variety.

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Academy Awards

Variety: Academy CEO Bill Kramer Gets Contract Extension Through Oscars 100th Birthday

Academy of Motion Picture Arts and Sciences CEO Bill Kramer has had his contract renewed and will continue to lead the organization behind the Oscars through July 2028, taking him through the Academy’s centennial. His contract was up for renewal in 2025, but the organization said it was approved one year early “due to [Kramer’s] exceptional leadership and significant contributions.”

“Bill is a dynamic and transformational leader, and the Board of Governors agrees he is the ideal person to continue to broaden the Academy’s reach and impact on our international film community and successfully guide the organization into our next 100 years,” said Academy President Janet Yang in a statement.

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Headlines Newsletter, 6/20/2024

Exhibition

Screen Daily: Seven talking points from CineEurope 2024

Premium large format is our present and future
Premium large-format cinema (PLF) is not a new topic for the annual CineEurope trade convention in Barcelona. But there is no doubt that 2024 represented a breakthrough year in terms of the focus and emphasis – a reflection of the increasing slice of the box office revenue pie that PLF has been delivering globally.

Instead of featuring mainly as a topic in panel discussions, in sponsor reels and on the tradeshow floor, as was previously the case, this year the message came from studio leaders loud and clear in the slate presentations at CineEurope. The official convention of UNIC, the International Union of Cinemas, ends today (June 20) with an awards ceremony honouring achievements in exhibition and distribution.

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Academy Awards

Variety: Academy CEO Bill Kramer on Oscars’ Future, ‘Exploring’ Gender-Neutral Acting Categories and Upcoming ABC Negotiations

The Oscars will turn 100 in 2028.

But with dwindling ratings for its telecast, to say nothing of the existential problems facing the movie business, will the show be around for another 100 years? It’s falling to Bill Kramer, the CEO of the Academy of Motion Picture Arts and Sciences, the organization behind the awards, to figure out a way for the Oscars to stay relevant and financially secure.

“The Academy sits in two worlds: the film industry and the nonprofit arts and culture sector,” Kramer says. “And both are undergoing radical shifts in their business models right now. We need to diversify our support to ensure we thrive for the next century.”

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Advertising

Marketing Brew: Movie theater ad spend is climbing: report

The data, which spans almost 4,000 movie theaters across the country, found that advertisers spent $42 million on cinema ads in the first quarter of 2024, an uptick from the $33 million spent a year prior, Vivvix found. Three sectors dominated that ad spend: public transportation, hotels, and resorts; communications; and insurance.

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Headlines Newsletter, 6/19/2024

Box Office

CNBC: Family films led by ‘Inside Out 2’ could reignite the box office

[Chris] Johnson said he feels “reenergized” after the opening performance of “Inside Out 2.”

The film tallied another $22.2 million on Monday, 14% of its weekend and the second-best Monday ever for a Pixar film.

While it was clear there was an appetite for the sequel, Johnson noted that it benefited from the recent releases of Paramount’s “IF,” which opened to $33 million, and Sony’s “The Garfield Movie,” which opened to $24 million.

Families that attended screenings of these films would have seen posters and cardboard cutouts marketing the approaching release of “Inside Out 2” and likely saw a trailer for the film as part of the theater’s coming attractions reel.

″‘Inside Out 2’ was certainly it’s own entity and was going to do well,” Johnson said. “But I think those lead-ins helped. I think the momentum of the box office and the similar genre does [have an] impact and I can’t wait for that to roll into ‘Despicable Me 4.’”

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[SUBSCRIPTION] The Wrap: Latino Audiences Are the Secret to ‘Godzilla x Kong,’ ‘Bad Boys 4’ and ‘Inside Out 2’ Box Office Boom

Latino and Hispanic moviegoers are helping propel big-budget movies to box office success — a welcome shot in the arm as the 2024 box office struggles to come back to life following a pandemic and two crippling labor strikes.

Recent tentpole releases like “Godzilla x Kong: The New Empire,” “Bad Boys: Ride or Die” and “Inside Out 2” (fresh off a record-breaking opening weekend) have all seen significant numbers of Latino and Hispanic moviegoers. They are disproportionally higher ticket buyers than other demographic groups because they tend to go to movies in larger groups of family and friends, according to research from management consultant McKinsey.

Case in point: “Godzilla x Kong: The New Empire,” the latest and now most successful entry in the MonsterVerse franchise at $571 million worldwide, counted on Latinos and Hispanics for 35% of its audience, just behind Caucasians at 36%, with Asian/other at 18% and Black viewers at 17%. The film played well across the board, with men making up 62% of ticket buyers, but the Hispanic and Latino audience was a defining factor in some areas, according to data from Warner Bros.

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Headlines Newsletter, 6/17/2024

Exhibition

NATO Celebrates CineEurope 2024

“NATO is excited to celebrate the kickoff of CineEurope as the summer box office begins to build momentum,” said Michael O’Leary, NATO’s President & CEO.

“Led by the visionary team at UNIC, CineEurope continues to be an essential event that brings together exhibition, distribution, and the creative community to build the future of the cinematic experience. CineEurope is a yearly opportunity to celebrate the importance of the international box office to the overall strength of our global industry.”

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Domestic Box Office

Associated Press: An emotional win for theaters, Hollywood: ‘Inside Out 2’ scores massive $155 million opening

On the ground, theater owners saw their cineplexes come to life this weekend.

“It has been magical,” said Jeff Whipple, a vice president for Megaplex Theaters. “We have seen literally generations of families brought together for this movie.”

Megaplex Theaters operates 15 locations and 173 screens in Utah and Southern Nevada. And the energy was palpable, Whipple said. Not only have families been hanging around after the showtimes to discuss the film; They’ve also been scoping out what’s coming next with kids taking pictures of the “Despicable Me 4” posters and displays and dads taking note of the “Deadpool & Wolverine” date.

“I think word is going to spread on this film and help draw people into theaters throughout the summer,” Whipple said.

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[SUBSCRIPTION] The Hot Button: THB #546: What Inside Out 2’s Numbers Do Mean

The first thing that I take away from this opening of Inside Out 2 – wherever it eventually lands – is that Disney created a theatrical opportunity from what was once meant to go to Disney+ and proved that the classic windowing model is clearly the best option in success.

The theatrical market will be as large or limited as the distributors make it.

It is not the weather. It is a choice that creates the circumstances by way of the action of the people who market and distribute films.

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Release Calendar

The Hollywood Reporter: Francis Ford Coppola’s ‘Megalopolis’ Lands at Lionsgate for Fall Release

After much speculation over its fate, Megalopolis is officially headed to North American movie theaters.

Lionsgate has picked up the Francis Ford Coppola feature, and is planning a September 27, 2024 release.

Megalopolis bowed at Cannes last month after a dramatic backstory surrounding its making. After decades in development, Coppola put part of his personal fortune into the $120 million project, which stars Adam Driver as a man obsessed with creating utopian city.

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