The idea that movies and theaters are things of the past has been proved wrong in 2018. With new amenities like reclining seats and alcoholic beverages in theaters, movies theaters are popular again.
The exhibition, or movie theater, business came roaring back over the last year thanks to blockbusters like “Black Panther”, “Avengers: Infinity War”, and “Jurassic World: Fallen Kingdom”. The domestic box office hit a new high of $11.5 billion in global revenues and the number is only getting higher with the recent release of “Aquaman” and “Mary Poppins Returns”.
Theater owners have a positive outlook for 2019 even after being written off as old-fashioned in the last few years and said to be replaced by streaming services like Amazon and Netflix.
Films like “Crazy Rich Asians”, “Black Panther”, and “Oceans 8” allowed Asians, black people, and women to star. In a time where diversity and inclusion are in the headlines, audiences around the world were happy to see movies that reflected human differences in a positive way.
Disney, with Marvel, Pixar, and Lucasfilm, continues to dominate the movie industry with more than $3 billion in stateside revenue. Disney raked in more than $1.3 billion more than its closest competition, Universal. As part of a $71.3 billion merger, Disney will move even farther above the competition when they absorb a large portion of Fox’s film assets.
Although the future is bright, there are still a few concerns that the film business relies too much on a handful of specific genres. Six of the top 10 domestic released in 2018 were superhero related while nine of the top 10 were sequels or spinoffs. The only movie in the top 10 that wasn’t part of a pre-existing series was “The Grinch”, obviously something that has inspired other movies before.
Source: Variety.
Photo Copyright: Variety.
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