The box office could be revitalized by family films featuring 'Inside Out 2' as the lead.
- A constant flow of family-oriented films have been released in theaters recently, including Paramount's "IF" and Sony's "The Garfield Movie."
- During its domestic opening weekend, "Inside Out 2," a joint production by Disney and Pixar, generated $155 million in revenue.
- The success of each family-film release has been built upon the success of the previous one, revitalizing the box office and giving movie theater operators hope for a stronger second half of the year.
A big piece has been missing from the box office — family films.
"Super Mario Bros." and other kid-friendly hits have boosted ticket sales. However, many family features either debuted on streaming platforms or were released too far apart on the calendar, causing ticket sales momentum to disappear.
A series of family-friendly movies have been released in cinemas in recent months, with each release building on the success of the previous one. This has revitalized the box office and given movie theater operators optimism for the remainder of the year. Pixar's "Inside Out 2" was particularly successful, generating $155 million during its opening weekend, which helped to restore the animation studio's industry reputation after a period of struggle.
Chris Johnson, CEO of Classic Cinemas, a Midwestern theater chain, stated that momentum plays a significant role in ticket sales.
In 2024, the domestic box office has decreased by 23% compared to the previous year and is 40% lower than 2019. The current revenue is $3.08 billion, as per Comscore.
Maybe having more fun movies, like "Despicable Me 4," could help with a better box office.
The genre of family-friendly films is broadly defined, with some experts basing the classification on the film's rating, while others consider the content of the movie.
"According to Shawn Robbins, founder and owner of Box Office Theory, family movies encompass a diverse range of genres and themes."
Superhero flicks, live-action adventure films, and comedies are frequently found in family movies, as Robbins observed.
"Consider the number of families required for movies like Star Wars, Marvel, Top Gun: Maverick, and Barbie to achieve their earnings," he stated. "Ultimately, the key is to create content that is friendly, accessible, and relatable to a wide range of demographics."
While some families may opt for family-friendly fare such as Universal's "Twisters" or "Beetlejuice Beetlejuice" for their "Inside Out 2" viewing experience, others may prefer Sony's "Harold and the Purple Crayon," "Transformers One," or Universal's "The Wild Robot." The much-anticipated "Moana 2" will be released at Thanksgiving, and a third "Sonic" film will hit theaters in December.
"According to Paul Dergarabedian, senior media analyst at Comscore, the family-film genre was hit the hardest by the pandemic, with parents understandably hesitant to take their families to brick-and-mortar theaters during the pandemic. However, by 2024, family films have emerged as the bright spot in an otherwise challenging summer for the movie industry."
In 2019, over two dozen family films were released in theaters, with Disney's "Aladdin," "The Lion King," "Toy Story 4," and "Frozen II" among the top 10 highest-grossing films of the year.
In 2020, the number of family films released was significantly below 2019 levels due to production shutdowns from the pandemic and dual Hollywood labor strikes.
"Johnson, of Classic Cinemas, stated that 2023 was a record year for the company, but it could have been even better if there had been more family-friendly fare. He emphasized the importance of catering to the family audience."
Much-needed momentum
Johnson stated that he felt "rejuvenated" following the premiere of "Inside Out 2."
On Monday, the film earned an additional $22.2 million, which was 14% of its weekend earnings and the second-best Monday performance for a Pixar film.
Johnson observed that the sequel's success was aided by the recent releases of "IF" and "The Garfield Movie," which grossed $33 million and $24 million, respectively.
Those who attended screenings of the films would have witnessed posters and cardboard cutouts advertising the upcoming release of "Inside Out 2" and possibly viewed a trailer for the film during the theater's previews.
"Johnson stated that "Inside Out 2" was successful on its own, but the lead-ins likely contributed to its success. He believes that the momentum of the box office and the similar genre will positively impact "Despicable Me 4.""
Despicable Me 4" is predicted to earn between $60 million and $80 million during its first weekend, similar to previous films in the franchise, according to Comscore data. According to Dergarabedian, the success of "Inside Out 2" could increase the potential for "Despicable Me 4.
NBCUniversal, the parent company of CNBC, owns the distributor of "Despicable Me 4," Universal Pictures.
Business News
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