GET WOKE, GO BROKE: U.S. Box Office Revenue Falls 4 Percent in 2019, Sharpest Decline in 5 Years.

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via hollywoodreporter:

Many had predicted that the year would match 2018’s record domestic haul of $11.88 billion, but audiences rejected a number of studio films as home entertainment options grew.

There were cracks in The Force at the 2019 box office as the Age of Streaming strengthened its foothold and the number of major Hollywood studios decreased from six to five following the Disney-Fox merger.

With Dec. 31 fast approaching, industry leader Comscore projected Sunday that box office revenue in North America will hit $11.45 billion for the full year, a decline of 3.6 percent from 2018’s record bounty of $11.88 billion.

If Comscore’s rough estimate is correct, that would be the biggest year-over-year decline since 2014, when domestic revenue tumbled a steep 5.1 percent over 2013 to $10.36 billion. The North American box office rebounded in a major way in 2015, rising 7.5 percent to $11.13 billion.

The good news: $11.45 billion would represent the second-best showing of all time, besting the $11.38 billion collected in 2016 (a 2.2 percent uptick). Underscoring the cyclical nature of the film business, revenue was down 2.3 percent in 2017, followed by last year’s dramatic 6.9 percent jump.

While international box office numbers aren’t yet tallied for 2019, analysts expect worldwide ticket sales to match, or best, last year’s all-time high of $41.1 billion.

“Given the level of competition from a plethora of options across multiple platforms on an incalculable number of devices, it should be actually heartening to the industry that 2019 will deliver the second-best annual box office revenue in history,” says Paul Dergarabedian of Comscore.

 

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