With Box Office Flying High, How Do Exhibition & Distribution Maintain The Momentum?: CineEurope
20.06.2022 - 03:15
/ deadline.com
The CineEurope conference kicks off here in Barcelona on Monday with distribution and exhibition expected to be in fine spirits, coming off a series of mega-drivers in the first part of the year and heading into a lucrative second half. There’s reason for backslapping and high-fiving, but there are also concerns that all sides need to continue to work together for the ongoing good of the business.
The annual gathering of European theater owners and Hollywood studios is happening in its usual slot for the first time since the beginning of the pandemic, and comes as international box office (excluding China) is about 166% up on 2021 as of June 11 at $6.06B, according to Gower Street Analytics. Also as of June 11, global box office (including China) was estimated at $11.7B which is 62% above last year’s same period and 37% behind the average of 2017-2019.
The first part of 2022 has seen such blowouts as Warner Bros/DC’s The Batman, Disney/Marvel’s Doctor Strange In The Multiverse Of Madness, Paramount/Skydance’s Top Gun: Maverick and Universal/Amblin Entertainment’s Jurassic World Dominion. Each of those has exceeded $600M worldwide, with Maverick and JWD still in the early stages. Lightyear, to be fair, had a rocky start — let’s see how that plays out.
While there is clear demand, the industry can’t live on blockbusters alone. That’s one of the key issues on execs’ minds today, along with the relationship between exhibition and distribution, and boosting the reach of premium format opportunities.
Both exhibs and distribs agree that mid-size movies, and even bigger movies that are not based on existing IP, need to exist within the ecosystem in order for it to thrive.
To be sure, that was already seen prior to the pandemic, but
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