The weekend box office has taken a major hit due to the ongoing actors strike, with ticket sales plummeting to $58.3M. This is the third-lowest weekend box office of 2023. The strike, which is now in its 114th day, has had significant ramifications on the film industry. In particular, the absence of major releases like Dune: Part Two has resulted in a substantial loss of revenue. In this article, we will explore the effects of the actors strike on the box office and analyze the importance of actors in promoting and driving ticket sales for blockbuster films.
One of the most significant consequences of the actors strike is the delay of Legendary/Warner Bros’ highly anticipated sequel, Dune: Part Two. Originally scheduled to release during this weekend, the film’s delay to March 2024 has left a significant void in the box office. It is estimated that at least $50M, if not more, has been lost due to the absence of this major release. Legendary made the decision to postpone the film so that the actors could properly promote it. The first film already experienced reduced ticket sales due to its day-and-date release on a streaming platform. The delay of Dune: Part Two emphasizes the crucial role of actors in generating hype and drawing audiences to theaters.
The Success and Challenges of Five Nights at Freddy’s
While the availability of Five Nights at Freddy’s on the streaming service Peacock and its young adult appeal have contributed to its success, the film has faced significant challenges in its second weekend. The movie experienced a drastic drop in ticket sales, with a decline of 78%. This decline can be attributed to a combination of factors, including the film’s availability on Peacock for paying subscribers and the absence of major competing releases like Dune: Part Two. The success of Five Nights at Freddy’s highlights the importance of both intellectual property (IP) and star power in attracting audiences. However, the substantial decline in ticket sales also emphasizes the need for actors to promote films and create a buzz that drives audiences to theaters.
The ongoing actors strike has raised questions about the role of actors in the box office success of films. While some argue that it is challenging to quantify the impact of the strike, it is evident that actors play a vital role in promoting and delivering successful tentpole films. Particularly in the case of horror films like Nun II and Five Nights at Freddy’s, IP can drive ticket sales to some extent. However, brand recognition alone is insufficient; the presence of stars is crucial. The upcoming release of Disney/Marvel Studios’ The Marvels faces challenges in its promotion due to the strike, raising concerns about its potential box office performance. Even if the strike settles, it remains uncertain whether the film’s cast will be able to attend promotional events. This situation could negatively impact the film’s opening weekend and result in a lower box office gross compared to other Marvel Studios releases.
In the absence of major studio releases, smaller distributors have seized the opportunity to gain a larger share of the stagnant marketplace. A24’s critically acclaimed film Priscilla, directed by Sofia Coppola, has expanded its release from four theaters to 1,350 theaters. The film has performed well, earning around $4.9M and securing the fourth-place position at the box office. Priscilla’s success demonstrates the appetite for quality independent films during this period of limited competition. Similarly, Pantelion’s Spanish-language film Radical, starring Eugenio Derbez, has achieved strong results with a theater average of $5.2K from 419 theaters. The film has capitalized on word-of-mouth among Latino and Hispanic audiences, following its successful release in Mexico. The thriving performance of these smaller releases suggests that audiences are seeking diverse content outside of mainstream studio offerings.
The return of Meg Ryan to the director’s chair and her first starring role in eight years has generated interest in the romantic comedy genre. Ryan’s film, What Happens Latter, is projected to have an opening weekend of $1.5M, placing it in the ninth position at the box office. While the film’s reception among both critics and audiences has been lukewarm, its theatrical release will help establish it as a holiday title. Additionally, What Happens Latter is expected to perform well on PVOD platforms in December, capitalizing on the short theatrical window strategy. The film’s moderate success hints at a potential resurgence of romantic comedies with the right star power and marketing approach.
The actors strike has significantly impacted the box office, resulting in decreased ticket sales and the absence of major releases. The delay of Dune: Part Two highlights the importance of actors in promoting films and driving audience attendance. The success of films like Five Nights at Freddy’s emphasizes the significance of intellectual property and star power. Smaller distributors have capitalized on the lack of competition, showcasing the appetite for quality independent content. The return of Meg Ryan underscores the potential for a revival of the romantic comedy genre. As the actors strike continues, the industry grapples with the challenges of promoting and releasing films without the full participation of its stars.