The Last Jedi can’t save 2017 box office
After two consecutive LOS ANGELES record-breaking years at the domestic box office, 2017 was the year the momentum slowed — even with the late adrenalin boost of a new Star Wars film.
When all is said and done on Jan. 1, the domestic box office is estimated to net out with $11.1 billion in grosses, down about 2.6 per cent from 2016’s $11.4 billion, according to projections from box office tracker comScore. (U.S. figures include Canadian screens, all figures in U.S. dollars.) Looked at another way, it’s also likely to be the third-highest-grossing year in cinema history.
Experts and insiders are somewhat divided on what this might mean for the current state and future of movie-going and whether it is reason for alarm or just part of the natural ebb and flow of business. But one thing remains clear to all parties: Quality rules. If the movies are good, audiences will turn out. If they’re not, they won’t.
Overall, “2017 was the tale of two cities,” said Adam Aron, the CEO of AMC, the largest U.S. movie theatre chain.
“The year started really big. January to April were smash successes and September, November and December are huge successes, but the middle of the year ... markedly underperformed.
“We think the record of 2017 demonstrates that when Hollywood makes good movies, (audiences go) to see those movies.”
The year saw tremendous highs, with three biggest-grossing films Beauty and the Beast ($504 million), Star Wars: The Last Jedi ($424 million) and Wonder Woman ($412.5 million), notably all femaleled, and the remarkable successes of a handful of non-sequels including It ($327.5 million), Dunkirk ($188 million), Get Out ($175.5 million), Wonder ($117.4 million) and Girls Trip ($115.1 million).
Some superhero films even found renewed energy, either thanks a new director and vibe (Thor: Ragnarok, $309.4 million), as part of a farewell tour (Logan, $226.3 million) or a successful reboot with a new star (Spider-Man: Homecoming, $334.4 million).
It was also a year peppered with failed starts and serious lows for everything from R-rated comedies, like Baywatch, to formulaic actioners and burgeoning cinematic universes. Franchises die on the vine every year, but 2017 was particularly brutal for some spectacularly expensive efforts like Valerian and the City of a Thousand Planets, King Arthur: Legend of the Sword and Blade Runner 2049.
There are the ones that buckled under negative reviews like The Dark Tower, and then the Dark Universe kickoff The Mummy failed to make a notable impact.
The summer as a whole was the lowest-grossing in more than 10 years, and August was the worst in two decades. And not all longrunning franchises continue to be the cash cows they once were. Disney’s Pirates of the Caribbean had a franchise worst domestically with Dead Men Tell No Tales ($172.6 million) — although worldwide was a more positive story. The same was true for another fifth instalment, Paramount’s Transformers: The Last Knight ($130.2 million).
For the second straight year, the Walt Disney Company is at the top of the ladder with more than $2.2 billion in domestic revenue making up over 21.2 per cent of the market share from releases including The Last Jedi, Beauty and the Beast and Guardians of the Galaxy Vol. 2 ($389.8 million).
Warner Bros. followed in second with 18.9 per cent of the market share, and over $2 billion thanks to films including Wonder Woman, It, Dunkirk and even Justice League, which underperformed domestically with $223.2 million. The studio also had its best worldwide year ever with around $5 billion in grosses. Universal took third with around $1.5 billion compliments of Despicable Me 3 ($264.6 million), The Fate of the Furious ($225.8 million) and Get Out.