Axios Aug 31
Hollywood's worst summer in 25 years
"The number of movie tickets sold in the U.S. this summer (425 million) is likely to be the lowest level since 1992," the L.A. Times' Ryan Faughnder writes in a front-pager, "Theaters, studios hit by summer box-office blues."
- Short-term factors: "Too many bad movies, including sequels, reboots and aging franchises that no one wanted to see. Some point to rising ticket prices, which hit a record high in the second quarter."
- Long-term factors: "competition from streaming services such as Netflix and the influence of the movie review site Rotten Tomatoes, [which is part of] an unforgiving social media environment in which bad movies are immediately punished by online word of mouth."
- How studios are trying to adapt: "discussing ways to make movies available for streaming earlier after their theatrical releases through iTunes and video-on-demand services, despite resistance from theater chains."