What we’re about to inform you about cannot be read into as an indication of long-term trends, or even short-term. The state of exhibition and the domestic box office is changing by the hour …
circuits remain open, as they vary their capacities in the 50% range and practicing social distancing policies and staggered seating as they vie to keep the lights on. All are ensuring heightened cleaning and hygiene practices throughout their theaters, not just auditoriums, but in food prep areas and bathrooms, and all are in close contact with the CDC, health authorities, etc.
As of this minute, assuming coronavirus conditions ease in the next few weeks, DreamWorks Animation/Universal’sis expected to bring moviegoers back on Easter weekend, April 10, but many know that comes with asterisk.Says one exhibition vet who has been programming for decades, “I was told during hard times in the business, to do it with class.” That means bringing back the Oscar season titles or programming popular catalog titles i.e. Marvel movies,etc.
While catalog titles and older holdovers will return at favorable terms to exhibition, I hear that recent wide releases —were billed at the typical scaleable norms which see the majority of the gross going to the studio in early weeks, a percentage break that eventually works its way to a theater’s favor in later weeks as they continue to hold a movie.
But there was some buoyancy in other markets, for example, Dallas which is typically the no. 5 market in a given weekend was No. 2 , only off 29% this weekend versus last, while Phoenix which typically ranks No. 9 was No. 4 off only 26%. That indicates that those markets weren’t hit as hard as others. Chicago was the 5th best market of the weekend with $922K, -55% from last weekend. Illinois ranks 10th with 64 coronavirus cases.
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