Box office profits back on the rise after COVID-19 shut many theaters down
As COVID-19 cases in the US go down, theaters are back to being the place to be to watch upcoming and long awaited movies with friends.
March 24, 2022
The COVID-19 pandemic caused a substantial dip in profit for box office movies, since the lockdown left many watching new movies in the safety of their own homes.
Before COVID-19, some of the greatest blockbusters were grossing huge sums of money. Popular movies such as Avatar, which is the top-grossing movie, earned about $2.8 billion and Avengers: Endgame grossed $2.7 billion.
“I think that Avengers: Endgame was so popular because it was not a sequel but a finisher to Avengers: Infinity War, and as everyone knows, Infinity War didn’t end on a satisfying note, so everyone wanted to see Endgame so they could end the story,” said Shantelle Tupaz (‘24).
During the pandemic, more movies like Mulan and Trolls: World Tour were released through streaming, not by traditional theater. Box office profits suffered as more money went to different streaming services such as Netflix and Disney+.
“Streaming at home in recent years has been a preference because of COVID-19 and the amount of exposure at a theater, and I can understand wanting to watch a movie in the comfort of one’s own home too,” said Nolan Lees (‘23).
In December of 2021, Black Widow star Scarlett Johansson sued Disney and won, as she lost over $60 million by the movie being released in both theaters and Disney+.
“Since the agreement for a dual-release wasn’t on the contract, Disney should not have released it on Disney+ and Scarlett Johansson ended up losing millions, ” said Niel Pal (‘25).
Although there were doubts of the success of movies back in theaters, recent statistics have quickly shown massive profits for new hits like Spider-Man: No Way Home. According to reports in Variety, it has grossed more than $1.69 billion globally.
“I really enjoyed how they brought together all three Spidermans and other characters. I think that’s why it became such a big hit,” said Janani Prasad (‘23).
As COVID-19 cases in the US spiral downwards as of March 2022, theaters are now fully open and are bustling with people. Streaming has its benefits, but ultimately, most prefer the in-person viewing experience.
“I like theaters because I enjoy the larger screen which leads to a much more interesting cinematic experience. I also like the ambience of the theater and all the snacks you can get, ” said Paul Lee (‘24).
