Summer is NOT vacation time in Hollywood. Rather it is that time of yr where studios find out whether their investments from $100-$250 M in production costs and 1-2 yrs of production time will “payoff”. So while kids are out of school and adults go on vacation, Hollywood is hoping you spend some time, some money and recline in a nice cool movie theatre with summer flicks. After a record setting 2013 summer box at over $4.8 B the 2014 summer box decreased by more than 16% to $4 B+. Even though a few big potential blockbusters are going to be delayed this summer (like the new Star Wars & Superman flicks), 2015 still shows a lot of promi$e. So far our $$ talk ONLY addresses the domestic box office. Having said that, most domestic hits earn almost 2/3 of their total box, OVERSEAS. It is safe to say therefore, that if the summer of ’15 hits $5 B ± that the global box will gro$$ b/t $12 B & $14 B. Increasingly, the movie market is worldwide as Hollywood aggressively markets to its foreign customers. For example it films segments of its movies in foreign lands, uses international stars and even opens “sure fire” domestic “blockbusters” in other than NYC or LA. To the point the 2nd Avengers which opens in the US this wknd, opened last wknd in many overseas markets (except mainland China 5/12 & Japan 7/4) with a resounding box of $200 M+. WOW!
AVENGERS: AGE OF ULTRON
The 2nd Avengers movie is so big and so highly anticipated that it probably deserves its own Scope. Estimates show that the film’s budget is about $250 M which is $30 M more than the 1st film. Movie ticket sales websites like Fandago & MovieTickets have already reported heavy traffic advancing ticket sales. Both websites say the sales are ahead of the 1st film & according to the Hollywood Reporter (4/9/15) “MovieTickets.com said its advance sales are 6 times that of Avengers 1”. In 2012 the 1st Avengers opened to $207.4 M an ALL-TIME “Opening Box Office Wknd Record” that still stands, today (but probably not for long).
|FA$T & FURIOU$ 7
Furiou$ 7 hit the box office on 4/3. In less than 30 days it has become the 3rd movie EVER to hit $1 B in the foreign market. Yes, as of right now (though Avengers 2 is right around the corner) the highest grossing films of ALL-TIME overseas rank Avatar, Titanic & Furiou$ 7 in that order. If that wasn’t enough, Furiou$ 7 is even setting domestic box office records as well. Until last yr the Fa$t & Furiou$ franchise had the 2 biggest April openings of ALL-TIME, then Marvel’s Captain America (Winter Solider) opened with a $95 M opening surpassing Fa$t Five from 2011 by $9 M. Well Furiou$ 7 decided it wanted its April title back & opened at an astonishing $147 M! The previous biggest movie Easter wknd opening was Clash of Titans with a nice $61 M. Furiou$ 7 destroyed that # almost 2.5 times more with its $147 M Easter wknd opening. Any movie would be happy with the list of accomplishments we have just listed for Furiou$ 7 but that wasn’t enough for Universal. Furiou$ 7 is NOW officially the highest grossing film in China, surpassing last yr’s Transformers’ record of $320 M with $323 M and that’s in only 3 short wknds. WOW! Furiou$ 7’s opening wknd in China was $182.4 M It was $35 M more than its US opening. Its current China box of $323 M+ is $3 M bigger than its US box. THE GLOBAL BOX OFFICE IS EVOLVING QUICKLY!
|A JAM PACKED WKND!
Avengers: Age of Ultron is adding to what is already a jammed back sports & entertainment wknd. As usual NBA & NHL playoffs will be continuing as the Kentucky Derby is held on the 1st wknd of May. This yr we have 2 other events to add to the mix. The biggest boxing fight of ALL-TIME (financially speaking) is taking place at the MGM in Las Vegas on May 2nd b/t Floyd Mayweather & Manny Pacquiao. This fight has been anticipated for yrs and is finally happening. So a boxing match (ie THE boxing match) has been added to this wknd, who cares? Well the NFL in it’s never ending attempt to monopolize the sports world and make its sport a 365 day a yr spectacle moved its Draft to this wknd and to ChiTown. (It’s the 1st time the Draft has NOT been held in NYC since 1965). Starting Thursday night going thru Saturday afternoon NFL fans will be glued to their TV’s seeing which players will be the future of their franchises. Of course not every sports fan is going to watch or partake in ALL of these events however, a goodly number of people will watch many and/or attend them. Here is the breakdown: