This year’s North American summer box office revenue is expected to come in at an 11-year low, according to The Hollywood Reporter’s cited figures from comScore.
The analytics company predicts domestic revenue for the box office will reach roughly $US3.87 billion, which represents a 15.7-per cent decline since last year.
It will also be the first time since 2006 that the summer box office season didn’t reach $US4 billion in revenue.
One reported cause of the drop is that a number of “tentpole,” or franchise, films drastically underperformed in the domestic market, including “Transformers: The Last Knight” ($US132 million) and the Tom Cruise-led “The Mummy” ($US80.1 million).
Many films that underperformed domestically were, however, rescued by a more robust international market, according to The Hollywood Reporter. For instance, “Transformers: The Last Knight” earned $US604 million globally, but $US474 million of its revenue came from overseas.
“The lesson for Hollywood this summer is that every movie counts when it comes to box office and there are no ‘throwaway’ titles,” Paul Dergarabedian of comScore told THR. “At least three tentpoles missed the mark in North America as well as a handful of R-rated comedies that left audiences frowning, and the missing revenue from those failures could arguably have left a $US500 million-plus void in the marketplace — enough to turn a potentially strong $US4 billion-plus summer season heavyweight into a 98-pound weakling.”
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