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Photo: Daniel Fung/SOPA Images/LightRocket via Getty Images

Summer box office revenues were down 2% this year from the same period (beginning of May to beginning of September) as last year, per Comscore.

Why it matters: Mega hits like "The Lion King," "Aladdin" and "Toy Story 4" were supposed to keep the box office alive this summer, but broader economic trends and less-than-compelling storylines kept audiences from turning out in droves.

  • "[E]conomic factors may be a part of this equation, but it’s much more than dollars and cents that hang in the balance," says Paul​ Dergarabedian, senior media analyst at Comscore.
  • "It's not that audiences no longer want to go to the movie theater, they just need a compelling reason to go," Dergarabedian says.
  • He argues that while streaming is a formidable competitor to theaters, it doesn't stop people from wanting to go to the movie theater. Rather "it just means that the movies have to be a cut above, attractive in a way that is undeniable and a 'must see' event."

What to watch:  Netflix unveiled its fall movie slate last week, and said that it's planning to have 10 fall movies debut with exclusive theatrical release windows ahead of releasing those movies to subscribers on its streaming service.

The big picture: The move highlights the tricky balance Netflix needs to strike between playing ball with theater chains in order to ensure it gets enough buzz and critical claim around films, while also keeping its subscription retention high.

Go deeper: Disney smashes box office records with more blockbusters to come

Go deeper

Dan Primack, author of Pro Rata
12 mins ago - Economy & Business

Momentum builds for major antitrust reform

Illustration: Aïda Amer/Axios

President Trump's outgoing antitrust chief Makan Delrahim on Tuesday endorsed a proposal from House Democrats that would put new limits on acquisitions by large companies, during comments made at a Duke University event.

Why it matters: Momentum is building for major antitrust reform, updating rules that were written for railroads instead of routers.

Updated 1 hour ago - Politics & Policy

Inauguration Day dashboard

U.S. Capitol and stage are lit at sunrise ahead of the inauguration of Joe Biden. Photo: Patrick Semansky - Pool/Getty Images

President Trump has delivered a farewell speech and departed Washington for the last time on Air Force One, kicking off the day that will culminate with President-elect Joe Biden taking office.

What's next: The inaugural celebration for young Americans is being livestreamed, starting at 10am.

Updated 2 hours ago - Politics & Policy

Trump departs on final Air Force One flight

President Trump and his family took off on Air Force One at 9 a.m. on Wednesday morning for the final time en route to Florida.

The big picture: Trump's final hours as president were punctuated by his decisions to snub his successor's inauguration and grant pardons to many of his allies who have been swept up in corruption scandals.