New "Indiana Jones" up against tough movie market
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The July 4 weekend box office record set last year by a group of walking and talking Twinkies will likely be safe next week.
Driving the news: "Indiana Jones and the Dial of Destiny" is only expected to bring in about $100 million at the top end of expectations, while "Ruby Gillman, Teenage Kraken" may come in under $13 million, according to Box Office Pro.
Flashback: "Minions: The Rise of Gru" last year raked in more than $123 million over four days — thanks in part to young moviegoers starting a "Gentleminions" trend.
The big picture: About 15% of movie watchers still haven't returned to theaters post-pandemic and amid growing competition from streaming platforms, according to Hollywood Reporter.
- That percentage is even higher for family genres and films targeting older moviegoers, the report notes.
- "This summer is a stress test," an unnamed top studio executive said.
💠Hope's thought bubble: It's indeed a stressful time to be in the content business.
- A Hollywood writers strike is in its ninth week, the threat of AI replacing creative work has led artists across disciplines to file lawsuits and speak out, and the online influencer economy is seeing a hollowing out of opportunities.
🛸 1 fun fact: Seeing "Independence Day" in theaters as a kid is what inspired me to become interested in special effects and technology.
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