After one of the worst summer’s for ticket sales in over a decade, major film studio’s are starting to feel the hurt. While Hollywood may have started out 2017 strong with hit movies such as ‘The Fate of the Furious’ and ‘Get Out’ they went on to have their worst summer since at least 2006. Going into the fall, this losing streak continues.
Over the weekend, several featured films were released to North American audiences, the worst of which being ‘The Snowman.’ Michael Fassbender stars as a dedicated detective pursuing a serial killer in Norway who builds snowmen over his slain victims. Produced by Universal Studios at a cost of $35 million, not including marketing, ‘The Snowman’ opened at less than $9 million at the box office. Critics panned the film as a boring, confusing piece that was anything but scary. Rotten Tomatoes holds the film at an abysmal 11% approval.
Warner Brothers disaster film ‘Geostorm’ was released at midnight last night and stars Gerard Butler as a scientist named “Dutch Boy” whose weather controlling satellite system has been hijacked by an unknown assailant. Warner Brothers sunk $120 million into the project, not including marketing costs, and our guess is they won’t recover these costs anytime soon. The film currently holds a 38% approval rating on Rotten Tomatoes as critics and audiences expressed disappointment with the films lame attempt to mimic other recent disaster films such as ‘San Andreas’
Hollywood’s recent dropoff comes as upstarts like Netflix and Hulu begin to produce their own shows and movies, conveniently delivering them direct to viewers televisions, while causing an overall decline in American’s attendance to movie theaters. Indeed the polarizing political situation doesn’t help either. President Trump has expressed his disdain for a long list of major actors and has torqued his supporters into seeing the same hypocritical characters in Hollywood that he see’s.
Other factors are putting pressure on the film industry as well, including a recent string of sexual harassment scandals that have come to light over the past several weeks. Some of Tinseltown’s most powerful have been caught up in damning allegations of wrongdoing, most notably being major filmmaker Harvey Weinstein, causing film studios to fear the worst is yet to come.