Box Office Results, News & Reviews 2014: A Look at the Top Disappointments of the Year
Box offices across North America are causing concern for Hollywood executives and analysts who believe that 2014 will not be able to recoup from already low sales. Although several big-name titles are set to release later this year, sources are worried that it will not save an already low-performing year.
Thus far in 2014, revenue is down to $7.2 billion, a 5.6 percent drop from 2013's $7.6 billion at this time, according to the Hollywood Reporter. The sharpest time of slip was this summer, typically a time where blockbusters rake in big money for studios, where films brought 15 percent less in grosses. Most recently, the Sept. 5 weekend totals were the weakest since the period just after the 9/11 attacks.
Even with large-budget action movies rolling out this summer, such as "Transformers: Age of Extinction" from Paramount and Sony's "The Amazing Spider-Man 2," sales were underwhelming compared to previous years.
"It was a disaster," analyst from Cowen & Co. Doug Creutz said of the summer's film performances. "There was plenty of stuff for people to go see that they normally want to see. Something is going on that isn't good for studios and theater chains. U.S. consumer habits are changing."
Therefore, it is up to this fall and winter to make up as much ground as possible. However, even the most optimistic scenarios estimate that the U.S. could close the deficit to a 3 or 4 percent gap. The pressure is raised for titles such as the latest installment of "The Hunger Games," out Nov. 21, and "The Hobbit," released Dec. 17, franchises, as well as Chistopher Nolan's "Interstellar" on Nov. 7 and David Fincher's "Gone Girl," on Oct. 3.
"Unless something comes out of left field, we'll be down in the third and fourth quarters," Eric Handler, an analyst of MKM Partners. "Something needs to really break out."
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