Thursday, July 20, 2017
H'wood's Aging Franchises
Big name franchises that the studios could count on for the next blockbuster sequel are now marquee fodder and are hard-pressed to justify their fourth and fifth versions. The studios have made little attempt to correct the situation and when they have the results have been depressing.
Recent attempts to build new franchises have failed. For example, 'King Authur: Legend of the Sword' from Warner Bros. was met with a box office yawn. 'The Mummy', which was touted as being the movie needed to kick-start Universal's Dark Universe of monsters and sci-fi creatures, failed to connect.
On the bright side, 'Spider-Man: Homecoming', was a successful reboot but it stands alone. 'War for the Planet of the Apes' held its own and cinemas are looking for big gates from 'Atomic Blonde', and 'Dunkirk'. There is always an ebb and flow from year-to-year in box office results but this summer was not one where franchise films performed. It should be noted that what didn't do well domestically did very well globally. For example, 'The Mummy' and 'Transformers' earned over 75% of their grosses overseas and 'Pirates' did over $565m worldwide.
This dichotomy in box office gate between domestic and international points to the fact that it is getting harder to create films that appeal to every audience around the world. There is a disconnect between what plays well in the U.S. and what overseas moviegoers view as must sees.
Still, 2017 may not turn out all that bad, as the fall and holiday films look very promising. 'Justice League', 'Coco', and 'Star Wars: The Last Jedi' will all be big hits and led the pack. They may just push 2017 into record territory.