Hollywood movie box office slumped to near 40-year low in 2020

      Published on Wednesday, 20 January , 2021      302      
Hollywood movie box office slumped to near 40-year low in 2020


Hollywood movies suffered an unprecedented 80 per cent slump in box office revenue in North America in 2020 as the coronavirus pandemic closed movie theatres and studios held back the release of scores of new films.




Research firm Comscore said in an end-of-year report on Tuesday that the North American box office brought in $2.2 billion in 2020, compared with $11.4 billion for 2019.

The 2020 revenue marked an almost 40-year low, according to historical data from Box Office Mojo.

The lowest previous take for North American box office receipts was 1981, with a total of $918 million, in a year when “Superman II” was the biggest film.

Comscore did not release worldwide data for 2020, but Variety said global returns slumped some 71 per cent.

The pandemic forced movie theatres to close around the world in mid-March, bringing some small and big chains like AMC Entertainment to the brink of bankruptcy.

Theatres have still to reopen in the biggest US markets of Los Angeles and New York City.

Some 274 movies – including blockbusters like “No Time to Die,” “Top Gun: Maverick” and the ninth “Fast and Furious” action film – were moved to 2021 release dates, according to the Comscore report.

That left Sony Pictures cop caper “Bad Boys for Life,” released in January last year, as the top-earning movie in North America for 2020 with $206 million.

In 2019, “Avengers: Endgame” ruled the domestic box office with $858 million.

Thriller “Tenet” from Warner Bros, which hoped to tempt movie-goers back into theatres in the summer, took in just $58 million in the US and Canada.

Paul Dergarabedian, senior media analyst with Comscore, said that 2020 revenue – much of it from drive-in venues – was grounds for hope given that some industry observers had feared the figure would be even smaller.

“That should be extremely encouraging to anyone who was worried that movie-going would not come back at all,” Dergarabedian said.

Keywords:
Category Life | 2021/01/20 latest update at 5:00 PM
Source : GDN Online | Photocredit : Google
303
Comments Add comment



Gulf Media

Related Articles

The editorial staff of Bahrain Today would like to give all of its readers from Gulf and Bahrain and the whole world the opportunity to participate actively in the development of the website! If you have something interesting, fun, scandalous - just something worth to be seen from more people. Capture it and share it in the Bahrain Today with a short text.

Do you have information you want to reach our readers?

Send article/s

You can subscribe to our Facebook, Twitter and Google pages or use our RSS feed channel to always read the most important news about Bahrain, the Gulf and the world.