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Tuesday, July 27, 2021

Cinema Industry Fights Back!

 'Black Widow' rocked the box office at an $80m debut weekend in the U.S. and scored the biggest gate since the pandemic struck. Opening in 4,160 screens it posted the largest box office since 'Star Wars: The Rise of Skywalker' in December 2019.

This performance demonstrated that consumers are ok with the idea of returning to cinemas - as in the U.S., 76% polled that they are now comfortable going back.

Disney went with a hybrid release. The 'Widow' opened in cinemas day-and-date with Disney+ streaming (for a $30 surcharge). This added $30m to surpass a $100m opening. 

Marvel fans, superhero fans, and critics all raved about the film. Exiting polling was a 4.5 out of 5 overall.

The 'Widow' was a great success for Disney and exhibitors as it demonstrated that moviegoing is returning and in a BIG way. 'F9' has generated over $541m globally. 'A Quiet Place - II' has gated $258m and 'Cruella' $205m. Moviegoing is back! The industry is recoiling and the second half of 2021 should be steller at the box office. 

As of July 7th, Comscore has reported that 90% of cinemas around the world are now open. According to a Comscore press release, "As the studios continue to ramp up the rollout of their most anticipated films, audiences are showing up at their local cinemas to enjoy the big screen experience."

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