The opening week comp of 2019’s The Lion King proved to be very difficult for 2021’s openers to overcome. For the week, the 2021 box office came in at only 34% of 2019. The 3rd Quarter, YTD and run rate numbers all rose slightly but still not out of the loss category. The all-important run rate rose to 46%.
As each week goes by, the data becomes more and more weighted and thus more and more difficult to move. This week’s comp from two years ago is Once Upon on Time in Hollywood which produced $57.6M for the week. The Lion King did $76M in its second weekend, which is more than the top ten pictures from this weekend combined!
Next week we will be introducing the concept of velocity in measuring the speed of the recovery. This metric will give exhibitors guidance as to when they might expect to be able to put money back into the bank, putting an end to the constant drain of their cash. Both the size and speed of the recovery are key factors in determining the overall health of the exhibition.