Monday, July 7, 2014

Hollywood's Summer Box-office Catastrophe

In terms of box-office performance, summer 2014 is not exactly turning out to be the blockbuster season Hollywood had been hoping for. The Fourth of July holiday weekend, which is typically a key revenue generating time period for Hollywood, has turned out to be an unmitigated disaster.

Newly released movies actually brought in 44 percent fewer dollars than they did in last year’s matching time slot, handing the entertainment industry one of the worst Independence Day weekends it has ever experienced.

Contributing to the downtrend is the raunchy R-rated film "Tammy," which stars Melissa McCarthy. The comedy recently underperformed in a dramatic way, bringing in an estimated $21 million over the weekend and a total gross of $33 million since its release. By comparison, analysts and studio executives harbored expectations that the movie would gross around $45 million in the five-day span. [more...]

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