Super Bowl Weekend Marks Historic Low Box Office Revenue
Introduction
The recent Super Bowl weekend has seen a significant decrease in box office revenues, hitting a record low in more than three decades. This downfall can be attributed to the enthusiasm surrounding the football game, as well as a general decline in major Hollywood studio releases. Despite the disappointing numbers, Hollywood studios are planning to unleash expensive advertising campaigns to promote their upcoming movies.
Ticket Sales Plummet
The combined ticket sales during the Super Bowl weekend amounted to a mere $40 million, marking the worst showing for this particular event in more than three decades. The revenue in 2021 was only $7.7 million, attributed to widespread theater closures caused by the ongoing COVID-19 crisis. Compared to the mid-to-late ’80s, the box office revenue has witnessed a sharp decline.
Shifting Priorities
Interestingly, Hollywood studios are no longer placing great emphasis on weekend grosses. Instead, they are focusing on introducing splashy and expensive advertisements for their upcoming releases. This shift indicates a change in strategy and a move toward capitalizing on the post-game era to regain momentum in the market.
Argylle and Lisa Frankenstein’s Performance
Over the Super Bowl weekend, Matthew Vaughn’s big budget film, Argylle, secured the top spot with underwhelming ticket sales of $6.5 million. This places it among the lowest-grossing films during this period, experiencing a 63% drop from its opening weekend. With a domestic total of $28.1 million, the film is distributed by Apple Original Films and Universal.
Focus Features’ horror-comedy, Lisa Frankenstein, debuted in second place with earnings of $3.8 million. Unlike a platform release, the film was launched nationwide to capture the attention of female viewers who might not be engrossed in Super Bowl mania. Uniquely, Taylor Swift’s influence has contributed to a surge in football viewership among girls and women.
Implications for the Industry
According to Paul Dergarabedian, Comscore’s chief box office analyst, “This year unfortunately marks a low ebb for the football-centric weekend, and with only one new wide release film hitting theaters and a lack of momentum in the marketplace, the industry will now have to look toward the post-game era to get back on track.” Lisa Frankenstein, the modern take on a horror story, received a B Cinemascore and was preferred by female viewers under the age of 35.
Other Films Performing on Super Bowl Weekend
Among the other films achieving noteworthy rankings during the Super Bowl weekend are The Beekeeper, Wonka, and Migration. The Beekeeper, from Amazon MGM Studios, secured the third place with additional earnings of $3.5 million and a total domestic tally of $54.7 million. Fathom’s faith-based sensation, The Chosen: Season 4 Episodes 1-3, generated $3.2 million in its second weekend, resulting in cumulative earnings of $6 million. Warner Bros.’ Wonka continues to perform strongly, accumulating $3.1 million over the weekend, raising its total domestic earnings to $205 million.
Persistence and Opportunity
Despite the unpredictability of box office performance during the Super Bowl weekend, certain notable releases have proven that revenue can be generated during this time. Record-breaking openings such as Hannah Montana/Miley Cryus: The Best of Both Worlds Concert, which generated a remarkable $31 million in 2008, demonstrate the financial potential. While the weekend total revenue has crossed $100 million only a few times over the past 17 years, releases like Death on the Nile and Magic Mike’s Last Dance in 2022 and 2023 have shown promise, providing alternative entertainment for audiences.
