It is Oscar week. Actually, I’m recording this program before the Awards show, so I can’t tell you what I think of any of the winners. The reality is that I would be hard pressed to have much of an opinion since I have not actually seen ANY of the nominated movies. Not one.
And that’s a problem that is deeply worrying to the industry.
Not about me, per se. But the numbers for the movies are on the decline. The most significant number is also the most frightening. Fewer people are buying tickets. You can inflate the numbers for box office by simply charging more per ticket. In the end, that’s almost always a losing business proposition. For it to work, you have to be cranking out new product with increasing quality. And that’s just not happening.
In 2011, the top seven movies of the year were sequels, in 2015, the eight biggest opening weekends went to sequels. When sequels are at the center of your industry you face the inevitable challenge of having to outdo yourself every single time. The bar never gets lower, only higher. In 2016 the industry largely failed to meet that mark.
So you’ve got product that isn’t exciting. You have a limited palette of movies. The top ten grossing films of last year include four superhero/comic book movies, three children’s movies, two movies that are extensions of existing franchises, and a re-boot. And not one of them is up for a major Oscar category. I will post the list of the top movies on my website with my podcast at the end of the week.
Now add in that the Millennial generation (no, I am not joining the “It’s All the Millennials Fault” chorus), hasn’t made the connection to going to the movie theater that previous generations have, and you have the makings of a serious and long-term problem for the industry.
Seventy years ago, the average American went to the movies about once a week. Today the average is four to five times a year. Part of it is cost, part of it is quality of product, part of it is a greater spectrum of options for free time.
While ten times more movie tickets are sold in North America than the top four professional sports leagues combined, the movies have to come to grips with what is happening.
Once upon a time, going to the movies was a major social event. The movies fired the imagination of generations. Now Hollywood seems to be suffering a serious lack of imagination while training the next generation of movie goers to only watch what they’ve seen before.
I’m waiting for the best sequel category at the Oscars soon. Go with your strengths, right?
As promised, the top ten grossing movies of 2016:
- Captain America/Civil War
- Finding Dory
- Zootopia
- Jungle Book
- Secret Life of Pets
- Batman vs Superman
- Deadpool
- Fantastic Beasts and Where To Find Them
- Suicide Squad
- Star Wars – Rogue One
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