While Larger Theater Chains Fear Slow Fall Slate, Smaller Chains Are ‘Not Alarmed’
By Movieguide® Staff
Despite initial concern from AMC and other large theater chains over the lack of looming blockbusters for the fall box office, smaller exhibitors are less worried.
As Cineworld Group, which owns Regal Cinemas, faces bankruptcy, other theater chains with less debt said that the traditionally slow months of August, September, and October are not an issue due to the help of arthouse movies.
Movieguide® previously reported on the slow Fall slate:
Despite a solid start to the summer box office, thanks to blockbusters like TOP GUN: MAVERICK, MINIONS: RISE OF GRU, and ELVIS.
According to Comscore, the summer box office has grossed $3.027 billion, which is only 17.5% below the last pre-pandemic numbers in 2019.
Although the numbers encouraged theater owners who struggled to stay afloat amid COVID-19 shutdowns, some expect a slow decline without the prospect of more blockbusters.
“As great as the summer has been, we’re about to hit a lull,” Chief revenue officer of Flix Brewhouse Chris Randleman said. “The problem isn’t that people don’t want to go to theaters. We don’t have movies to show in August or September.”
University Mall and Cinema Arts owner Mark O’Meara echoed Randleman’s concerns.
“I’m hoping there are some sleeper hits,” he said, adding that the only surefire audience grab is the next family-friendly movie.
“I’m a little nervous about the next couple months. I don’t need to have gigantic blockbusters. It helps…but we need to have choices,” he said. “Hopefully we’ll get a couple more weeks out of [playing] ‘Minions’ and ‘Super-Pets.’”
However, the next children’s movie, LYLE LYLE CROCODILE, won’t be released until October.
“This is a slower than normal slow period, but it’s not a catastrophic crater,” Tim League, executive chairman and founder of Alamo Drafthouse, said.
Jeff Brein, a managing partner of Far Away Entertainment, said he would likely reduce showtimes and staff for the upcoming months to try to cut costs.
“We don’t have much control over what the studios give us and when they give it to us. All we can do is control our operations and respond and react accordingly,” Brein said.
Many theater chains hope to weather the storm until October, which will see an uptick in blockbuster movies like DC Comics’ BLACK ADAM, Sony’s LYLE LYLE CROCODILE, and TICKET TO PARADISE starring Julia Roberts and George Clooney.
Then, in November, Marvel will release BLACK PANTHER: WAKANDA FOREVER.
“If we’re looking for a $100 million opener, we have to wait till November, but hopefully these movies will bridge the gap and collectively add a lot to the bottom line for theaters,” Paul Dergarabedian, senior media analyst at Comscore, said.
“I’m really not alarmed or losing a lot of sleep over the slate, as it is, for us and for the industry,” Brein added.
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