After a strong October, theaters hoped recovery would stabilize.
Better yet, that improvement would continue over the holidays, starting with the five-day Thanksgiving period.As is typical, a Disney animated film — this time, “Encanto” — leads the field.
It grossed $40.3 million over five days, which is a pale comparison against 2019.
That’s when “Frozen II” grossed $125 million in its second weekend and “Ralph Breaks the Internet” opened to $85 million.
“Coco” grossed $73 million in 2018.It’s impossible to compensate for that gap.
Over five days, total box office will be around $146 million, more than $115 million under 2019 — a 55 percent decline.
Against the rolling four-weekend gauge, it performed at 62 percent of 2019.As October showed, results vary.
But if that shortfall continues, it would be deeply problematic for theaters.
Not only would it impact their immediate financial capacity, but it could also impact distributors’ enthusiasm for theatrical exclusivity.Not only are grosses lagging, but fewer films are being released.
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