
Over the past decade, claiming the title of being a “billion-dollar” movie has become a thing.
The Box Office Mojo website, currently lists 48 movies with a global box office of $1 billion or more. The list isn’t adjusted for inflation. But the $1 billion mark has become a sign of box office success.
The list includes 2012’s Skyfall at No. 28 ($1.11 billion), the first billion-dollar Bond film. Regardless what was once rare (The Dark Knight in 2008, Avatar in 2009) has become almost common place.
Until COVID-19, that is. But more on that in a moment.
The New Standard
The thing about achieving billion dollar status is that suddenly becomes the floor. If you fail to match it, that almost becomes failure.
Marvel’s The Avengers (2012) got a lot of attention. It scored an opening weekend in the U.S. of more than $200 million and $1.5 billion globally. Marvel films, after four years of build up, had arrived.
Yet, when 2015’s Avengers: Age of Ultron came out with a $1.4 billion box office, it was almost seen as a disappointment. Marvel followed up with a two-part Avengers adventure (Avengers: Infinity War and Avengers: Endgame) which generated more than $2 billion for each installment.
Keeping this to the cinema world of James Bond, 2015’s SPECTRE generated $880.6 million. By any reasonable standard, that would be seen as popular. But it’s not a billion dollars!
At the same time, this isn’t just hype. So-called “tentpole” movies are getting so expensive a billion-dollar box office is almost a necessity. No Time to Die, the 25th Bond film, had generated production costs of almost $290 million as of mid-2020, according to a U.K. regulatory filing. Making a “tentpole” movie is not cheap.
Life Changes
All of that was before COVID-19 hit in the first months of 2020.
With the pandemic, movie theater attendance plunged. Theaters were closed or had severe limitation on attendance. Some movies got released on streaming.
The industry is changing. Theaters had enjoyed a 90-day window to show films before home video kicked in. After COVID, that window is tightening even when films come out “exclusively in theaters” (now an advertising tagline)
Industrywide, the financials are shifting. There’s a legitimate question whether an expensive No Time to Time can even make a profit on its theatrical release.
This post isn’t a matter of being doom and gloom. It’s more a description of an industry in change.
Want to hear doom and gloom? Veteran entertainment executive Barry Diller told The Hollywood Reporter this month that he expects only 10 percent of movie theaters to survive.
Again, keeping this to Bond, No Time to Die was made while one world existed. It will debut after a new world has taken hold.
Filed under: Comic book movies, James Bond Films | Tagged: Avengers: Age of Ultron, Avengers: Endgame, Avengers: Infinity War, Bond 25, COVID-19, Marvel's The Avengers, No Time to Die, Skyfall, SPECTRE, The Dark Knight | 3 Comments »