Hollywood Studios Showcase Upcoming Films at CinemaCon, Facing Box Office Challenges
ICARO Media Group
Hollywood studios descended upon Las Vegas this week at CinemaCon, aiming to reassure movie theater owners and executives that they have captivating content to keep audiences coming back to cinemas in the years to come. However, there was a sense of desperation lingering in the air as the box office struggles to regain its pre-pandemic momentum.
With estimations that around 15% to 20% of regular moviegoers have yet to return to theaters post-COVID, studios face a daunting task in enticing audiences back. Furthermore, labor strikes in the media industry and production delays have resulted in fewer film releases, making it even more challenging for theaters to attract patrons.
Amidst these concerns, studios offered a glimpse into their upcoming projects at CinemaCon. Disney, in particular, made a notable effort this year, considering their previous blockbusters, such as "Avengers" and "Avatar," didn't require elaborate presentations to garner theater owners' attention. With a rough year in 2023, Disney seeks to reclaim its former glory over the next 12 months.
Pixar's "Inside Out 2" received positive feedback, expected to be a much-needed success for the animation studio. Additionally, the R-rated superhero collaboration of "Deadpool and Wolverine," starring Ryan Reynolds and Hugh Jackman, is anticipated to alleviate concerns of superhero fatigue, with predictions of it becoming the year's biggest release.
However, not all Disney presentations received equal enthusiasm. The prequel "Mufasa: The Lion King" was met with skepticism, lacking the beloved tunes that made the original film a classic. Similarly, "Kingdom of the Planet of the Apes" faces the challenge of engaging audiences without Andy Serkis' performance capture work, which was vital to the previous trilogy.
Lionsgate impressed theater owners by announcing plans to release a dozen or so movies in the upcoming months. However, some of their offerings, like "Flight Risk" and "The Killer's Game," were criticized as violent retreads of the successful "John Wick" franchise. While "Borderlands" showcased a different aesthetic, its action sequences were compared to a "Guardians of the Galaxy" imitation.
Paramount faced uncertainty as a studio up for sale, casting a shadow over their presentations. They compensated by announcing numerous projects at various stages of production, but the fate of these projects remains uncertain. John Krasinski's "IF," an original idea aimed at younger audiences, is considered a high-risk gamble in a market that heavily favors established intellectual properties.
Universal focused on promoting the magical world of Oz, generating excitement for the highly-anticipated "Wicked," with stars Ariana Grande and Cynthia Erivo captivating the audience. They also announced "Despicable Me 4," which is expected to be another family-friendly hit, and "Twisters," an updated version of the 1996 classic known for its thrilling tornado sequences.
Lastly, Warner Bros. captured attention with "Joker: Folie a Deux," featuring Joaquin Phoenix reprising his Oscar-winning role alongside Lady Gaga as Harley Quinn. "Furiosa: A Mad Max Saga" promises to be visually stunning in IMAX, while "Beetlejuice Beetlejuice" taps into nostalgia. "Super/Man," a tear-jerking biopic about Christopher Reeve's life, aims to be a compelling crowd-pleaser.
As Hollywood studios showcased their upcoming releases, the challenges facing the box office were evident. With some eagerly anticipated films and potential crowd-pleasers on the horizon, the industry hopes to overcome the lingering effects of the pandemic and reignite the passion for cinema in audiences worldwide.