NEW YORK – Hollywood’s summer at the box office isn’t just missing nearly 20 percent of last summer’s revenue. It’s lacking swagger.
Summer is the season for mega-budget, chest-thumping, globe-trotting monstrosities – films so big they lure droves of Americans with heavily promoted promises of shock and awe. But this season’s blockbuster output has been curiously low on the summer’s stock in trade: bigness.
Two months into the summer, there haven’t been any $300 million grossers at the North American box office. The only movie to surpass $100 million in its weekend debut was Transformers: Age of Extinction, and it did so by such a smidge that some box-office watchers claimed it was artificially inflated.
The Fourth of July, the customary launching pad for some of Hollywood’s flashiest fireworks, was the worst July Fourth holiday weekend in at least a decade.
The first half of the year was extremely strong, as was last year, said Dan Fellman, domestic distribution head for Warner Bros. Then all of a sudden, it turned the other way.
Since kicking off in early May, the summer box office has totaled $2.25 billion, a 19.3 percent downturn from last summer. Propelled by hit sequels Iron Man 3 and Despicable Me 2, last year was a record summer at the box office, despite a series of high-profile bombs such as The Lone Ranger, White House Down and After Earth.
But when you bet big, you can also win big. While Hollywood’s summer has featured no shortage of major blockbusters, it has in some ways been more content to hit a double than swing for the fences. This summer’s box office has been dragged down not so much by flops than by a slate of modestly ambitious movies.
The only major July Fourth release was the Melissa McCarthy comedy Tammy, made for just $20 million. It debuted with a lackluster $21.6 million.
One of the season’s biggest sensations, The Fault in Our Stars, was a niche-based hit that appealed to the ardent fans of John Green’s young-adult book. A whopping 82 percent of its $48 million opening weekend was female.
The ensemble comedy sequel Think Like a Man Too topped a weekend in June with $29.2 million despite little crossover appeal.
These movies will likely all be quite profitable for their respective studios due to their cost-conscious budgets. But they aren’t superhero-sized hits.
Many of the blockbusters have seen revenue quickly tumble after the first weekend or two. Paramount’s Transformers – the biggest movie of the summer – nosedived 63 percent in its second weekend. X-Men: Days of Future Past opened big with $90.8 million but slid 64 percent the following week. Godzilla bowed with $93.2 million, only to drop 67 percent.
Instead, the studios have been banking on their biggest growth coming from overseas markets.