Have you heard the news? Godzilla and King Kong have unfortunately completely decimated Hong Kong, however also they may have just brought the film industry back to life.
Warner Bros. ‘ Godzilla vs. Kong opened in theaters nationwide last Wednesday, and although it was also released simultaneously on HBO Max, it did not prevent the giant government from listing monster numbers. At the end of the Easter weekend, the tent pole brought in almost $ 50 million and easily smashed the pandemic’s previous film participations, as if they were a multi-storey apartment complex. So far, no other release from the COVID era has even exceeded $ 25 million Overall sales in the first weekend in the US and only Raya and the last dragon, Wonder Woman 1
The box office success suggests, first and foremost, that consumers are increasingly comfortable sitting in cinemas after a year of social distance. More subtly, it’s also a bit of a middle finger – albeit a very early and cautiously raised one – to those naysayers who said streaming would overcome theater, which was the dominant method of film consumption when Warner announced his simultaneous release strategy in December. While HBO Max said the film had a larger audience than any movie or TV series it released since the service first launched in May last year (HBO Max did not release specific issues), it seems that consumers have spoken out loud and clearly: They want to go back to the cinema.
“I think a great movie like this should tell everyone if we are rational in how we release a title that is an appetite for people to have a shared experience in the theaters,” said Joshua Grode, CEO of Godzilla vs. Kong‘s production company, Legendary Pictures, said about the results.
As some media analysts have maintained as the streaming age took hold in recent years, home viewing and theater performance can coexist, if not symbiotically. Godzilla vs. KongDominance on both platforms is a great reminder that, of course, there will be a better evaluation when society is fully reopened and the choice is based on leisure and convenience rather than security.
Yet industrial observers had spoken up Godzilla vs. Kong—A film so cheeky and daring that it almost demands to be seen on the big screen – as the first real stress test of the theater industry’s recovery. The stakes got even higher when it was announced that both New York City and Los Angeles theaters would reopen in time for the fighter’s release date. (The two metro areas alone account for more than 16 percent of domestic box office sales.) And while theaters in these two markets are currently limited to 25 percent capacity, Los Angeles and New York were the most lucrative areas for Godzilla vs. Kong, with nearly 8 percent and 6 percent of the box office, respectively, according to Comscore.
“Without these two great entertainment hubs back online, we would not see them
“This is why studies have been waiting for the two cities to return,” he added. “It would be a tougher sale to be convinced of releasing a huge giant if New York and Los Angeles were not available. It’s not just about consumer confidence, it’s about student confidence. “And increased student confidence means that a number of other lively titles are planned for this summer –Black widow, Fast 9, A quiet place 2, Top Gun: Maverick– probably does not need to be pushed back any further.
Dog mens Godzilla vs. Kong may have just defibrillated the film industry, there is a long way to go before it is completely away from life support. For now, $ 50 million is amazing; in normal times it would be pretty mediocre considering the film cost $ 160 million to produce. And while GvK seems to prove that big budget-big shows still have a place in the theaters, the fate of smaller ones, literally, explosive titles in cinemas are still less clear. As with many aspects of our lives, some things after COVID will never be the same.
Still with vaccinations increasing daily and more and more theaters returning to business, study leaders and consumers can see the light at the end of the tunnel. And unlike the fictional universe of Godzilla vs. Kong, there is reason to hope that it is not crushed in a black rubble.