Post Covid, no doubt the box office has been rocked by fewer wide theatrical releases as streamers gobble up genres.
But AMC CEO Adam Aron hears there is a silver lining in the future.
AMC CEO Adam Aron
Getty/Courtesy
“In our conversations with Hollywood studios, one thing we’re most encouraged about is that so many studios are trying to increase the number of movies that they release now as compared with what they were releasing one or two or three years ago,” said Aron on today’s Q3 earnings call.
“We need the blockbusters, but we need the medium and smaller sized movies,” he said.
“Some studios were producing 25 films and were down to 10-12. We talked to one major studio two weeks ago, who said their calendar aspiration for 2025 is to release 38 movies!” beamed Aron.
“That’s a lot of movies by the way,” he said.
“Now whether they can actually release 38, there’s no commitment. What I’m comforted by is that each and every studio that we talk to, wants to issue more product,” added Aron.
This year between Searchlight, 20th Century Studios and Disney fare, the Walt Disney company has released some 20 movies. Universal and Focus are poised to have potentially 30 next year.
However, post Covid what has proven to be so is that just because there’s more movies, doesn’t necessarily mean there’s more money at the box office. Lionsgate released six wide windowed entries between August and October this year, but all of them deep sixed at the box office with openings ranging from $1.5M-$9M. Some studios have adjusted their marketing spends to what they believe will be the outcome at the box office, and bank on downstream monies. But if you want to succeed theatrically, ya gotta spend big.
