BLOCKBUSTER BUSINESS
Big-budget movies overshadowing mid-level films as audiences flock to see superheroes and dinosaurs
Hit movies like Jurassic World and Minions are accounting for an ever-growing share of movie ticket sales, a trend that latest Star Wars movie is expected to add to
If it isn’t a superhero or a dinosaur, there’s a growing chance moviegoers aren’t buying tickets.
More than ever before, blockbusters — such as the latest entry in the Minions franchise and megahit Jurassic World — are devouring box-office ticket sales at the expense of other films.
And the shift is expected to only intensify heading into the holiday season, as audiences prepare for Star Wars: Episode VII - The Force Awakens, billed to be one of the top-grossing films in Hollywood history.
Advance ticket sales for Star Wars have already shattered records, which has the head of Cineplex Inc. predicting that attendance will soar to near-historical levels for the company.
“It’s the highest we’ve ever had — by far,” Cineplex’s chief executive Ellis Jacob said of presales. But as the company rushes to pack theatres full of dedicated fans, that means other movies are losing a spotlight in the run-up to awards season.
In the first nine months of 2015, the top-five grossing films represented 26.1 per cent of ticket sales — versus 19.5 per cent in the same window of 2014 — as movies such as Jurassic World and Avengers overshadowed mid-sized titles including Magic Mike XXL, Vacation and Black Mass, which generated plenty of attention but only lukewarm attendance.
Over the next seven weeks, a barrage of major Hollywood movies will charge into theatres, including the final instalment in the Hunger Games series and Quentin Tarantino’s The Hateful Eight.
“I think our problem is there’s going to be too many movies,” said Jacob.
In the second quarter, which marked the start of summer movie season, a trio of Hollywood smashes dominated, with Avengers: Age of Ultron, Jurassic World and Furious 7, representing 43.5 per cent of box-office revenue.
Cineplex Inc. said attendance during the third quarter was up 7.6 per cent from a year ago, to 19.4 million patrons.
Revenue jumped 9.8 per cent to a record $328.2 million as more people bought premium-priced tickets for its VIP cinemas and Imax screens.