In the first half of the year, global cinema revenue was six percent lower than in the same period last year. Analysts suspect that many Hollywood sequels have exhausted the audience, and cinemas have to cope with ever-increasing streaming giants like Netflix or Amazon.
In the first six months of 2019, cinematographers exchanged tickets for $ 19 billion (for $ 5,500 billion) worldwide. Last year’s first half-year earnings amounted to $ 20.2 billion (HUF 5842 billion).
According to analysts quoted by The Guardian British newspaper, viewers are simply tired of the many sequels, as Men in Black came to the cinema in the first half of the year – Dark cops around the earth, Godzilla II: King of the Monsters, This is how to raise your dragon 3. And Lego Adventure 2. Although the sequels usually perform well at the cashier, this time several films were somewhat below expectations.
The first half-year decline was mostly driven by US cinema revenues: ticket sales fell 9.4 percent to $ 5.6 billion ($ 1,620 billion) compared to the previous year. The number of tickets sold also dropped in America: according to Box Office Mojo, it fell by eight percent to 623.6 million.
In Great Britain, the figures were better: half-year cinema revenue fell by 6 percent from the previous year, so it was $ 613.5 million ($ 222 billion), ”added The Guardian.
The author of the article reminded us that in 2018 the global ticket sales reached a record high, especially the Black Panther and the Revenge: The Endless War with a blockbuster pre-summer season. Last year was a good start, as popular films like Star Wars: The Last Jedi or The Biggest Showman, which were launched at the end of the previous year, were still running at the beginning of the new year. However, this year was not the momentum, but the first quarter was much quieter in cinemas.
Meanwhile, streaming giants such as Netflix and Amazon, which Disney and Apple will soon be catching up with their new streaming service, and HBO, are making great strides in the fight for the audience. Last year, Netflix produced as many films – about 80 – as all the big Hollywood studios together, and also won the Oscar gala with Alfonso Cuarón’s Roma. Netflix will soon be launching a 6 Underground action thriller with $ 150 million ($ 43 billion) budget, featuring Ryan Reynolds.
However, according to Phil Clapp, head of the British Cinema Association, there are many signs that the first half of the year may be overwhelmed by cinemas. American analysts also believe that in the year ahead, thanks to demonstrations such as the Lion King, the Joker, the Ice Hockey 2, the Downton Abbey, the Jumanji: The Next Level, the Deadly Stuff: Hobbs and Show, the The age of the Second Chapter, the Cats and the Star Wars: Skywalker, may eventually reach and even exceed last year’s.