Los Angeles, USA
Once again, chaos and mass destruction are back at the box office. It’s almost like in the old days.
“Godzilla vs. Kong”, one of the few high-budget films that dare to be released in the COVID era, Is set to break a new box office record during the pandemic. It won’t be the kind of box office success that a mega-production like this would normally achieve, but experts predict it will raise at least $ 25 million.
On Wednesday, the first day of “Godzilla vs. Kong” ticket sales in the United States, $ 9.6 million was billed, Warner Bros. said Thursday. It was a record for a day during the pandemic and more than most of what the 2020-2021 films have garnered on its release weekend. Last weekend, the battle of monsters raised an impressive $ 123.1 million internationally. In China, where film attendance is close to reaching pre-pandemic levels, the film grossed $ 70 million, double the 2014 “Godzilla”.
For the first time in a long time there is a hint of success at the box office.
“It’s a good omen that consumer tastes haven’t changed as much as not being able to restart the film business,” said Joshua GRODE, executive director of Legendary Entertainment, which produced “Godzilla vs. Kong.” “That says the film business is here and yes, it could be different after the pandemic, but there’s a viable industry here.”
There are still great challenges to revive the habit of going to the movies. With so many cinemas closed for almost an entire year, many viewers have lost the habit. Some will probably not sit in closed rooms with strangers unless they have been vaccinated or the pandemic is over. And even those who have been convinced that it is safe to go to the movies with health protocols now have more options at home. The same “Godzilla vs. Kong” is available for streaming on HBO Max in the United States.
But few claim as much for a big screen as King Kong and Godzilla. To help boost attendance and bring some roar to the movies, the industry is betting on two of the most iconic and ancient giants of the seventh art. Destroying another metropolis could help rebuild cinemas.
“The problem is not so much convincing consumers to go to the movies, but convincing studios to showcase their films,” said Rich Gelfond, IMAX’s executive director. “Hollywood studios have hesitated to release movies because they are not convinced that there is demand. I really hope this weekend shows that there is a lot of demand here and they are convinced to release a lot of movies that have been in the drawer “.
since the premiere of “Tenet” failed last August and coronavirus cases skyrocketed, most studies have postponed or earmarked their biggest releases to streaming services. But with the advent of the vaccine and the easing of restrictions, more cinemas have opened. About 60% of cinemas will be open this weekend, according to specialist firm Comscore. On Monday, Los Angeles County will expand movie theater capacity from 25% to 50%. For the first time since last winter, a wide-ranging release would mean presenting a film in more than 3,000 cinemas. The figure is still 1,200 fewer rooms than I used to have with a movie like “Godzilla vs. Kong.”
Recently ticket sales, although still well below usual levels, have been on the rise. The best release so far in 2021 has been “Tom & Jerry” (“Tom and Jerry”), with $ 13.7 million at the end of February. The record during the pandemic is “Wonder Woman 1984,” which grossed $ 16.7 million when it premiered in December. The two were Warner Bros. premieres that came simultaneously on HBO Max, a plan in principle controversial that has helped cinemas hold up and proved to be an interesting experiment on how viewers prefer to watch, and pay for, a movie .
However, The Walt Disney Co postponed until July the premiere of “Black Widow” and directed some of his titles on his Disney + streaming platform. Part of what is holding back box office successes is the need for a global premiere to recoup its considerable production costs and marketing expenses. (“Godzilla vs. Kong” cost about $ 160 million). Although in Asia people are returning to cinemas, the increase in VOCID cases in Europe and countries like Brazil has made full global deployment impossible at the moment.
Paul Dergarabedian, a senior analyst at Comscore, believes “Godzilla vs. Kong” will be “another pillar in our education about the direction the industry is taking.”
“The cinematic experience will prove to be as viable and resilient as it has always been,” Dergarabedian said. “But it’s going to be a different world, no doubt. I think it’s going to be a leaner, tighter business from now on.”
Some of the old practices that have ruled in big-budget movies will not return. Studios like Warner Bros. and Universal Pictures have reached agreements to reduce exclusive display windows. Next year, Warner Bros. will keep movies in theaters for a minimum of 45 days, or half the traditional time, before bringing their releases to home platforms. These new models involve recalibrating which films are approved and how much they are worth.
“The value of these streaming and pay TV streaming rights is greater now because you are getting access to them long, long before,” GRODE said. “So somehow you have to rethink the model of how a film will develop over time.”
This has also meant some tense negotiations over profit sharing. When Warner Bros. surprised with its hybrid release plan for 2021, Legendary – the anticipated “Dune” to be released later this year by Warner Bros. – considered taking legal action before reaching an agreement.
“Obviously we didn’t like the way they announced what they were doing in 2021, and I think they would admit they didn’t handle it perfectly,” GRODE said. “But when you look at how the world is, the facts that we all knew at the time, his decision made a lot of sense.”
“One overcomes it quickly and gets back to work,” he added.
To help cinemas get back to work, Gelfond believes, there are big screens that “differ as much as possible from sofa”. IMAX accounted for 14% of the Chinese box office of “Godzilla vs. Kong”. This weekend, the film will be screened on 1,170 IMAX screens worldwide. Functions in New York and Los Angeles, Gelfond said, are already exhausted, albeit at a lower capacity.
The box office may not roar as before this weekend, but “Godzilla vs. Kong” will show that it has some power left. As GRODE said, “In a few years, when people write about going back to the movies, I’ll be very proud that ‘Godzilla vs. Kong’ is part of this story.”