After summer smashes, box office returns to the big emptiness
If you've enjoyed a return to big-ticket moviegoing after a long pandemic break, it's time to get used to a slowdown again.
After a late spring/summer that's delivered a few nine-digit blockbusters - notably Top Gun: Maverick (PARA) (PARAA), Doctor Strange in the Multiverse of Madness (DIS), Jurassic World Dominion (NASDAQ:CMCSA) and Minions: The Rise of Gru (CMCSA) - back-to-school season ushers in what may be the quietest schedule in a year and a half.
There are no major releases coming this weekend - Gravitas Premiere's body-swapping dramedy Mack & Rita and Bleecker Street's drama Summering are the only wide debuts - and none really coming down the pike until October.
Two other films are widening their launches after limited openings before. A24 is expanding horror/comedy Bodies Bodies Bodies to 1,200 theaters, and Lions Gate's (LGF.A) (LGF.B) thriller Fall is moving onto 1,548 screens.
The schedule is empty enough that it's notable a 40-year-old hit is back in theaters: 1982's E.T. the Extra-Terrestrial (CMCSA) celebrates its anniversary with its latest re-release, now including IMAX screens. Top Gun: Maverick (PARA) (PARAA) heads back to IMAX by popular demand as well.
The smaller aspirations from new films leaves some room for holdovers to pile up cash. Last weekend's leader, Bullet Train (NYSE:SONY), is likely to repeat at the top with some fraction of its $30M opening. DC League of Super-Pets (WBD) will look to add some more millions after drawing $11.1M last weekend. And Jordan Peele's Nope (CMCSA), third last weekend with $8.5M, may make a jump as it starts a global release.
Bracing for a slowdown - and looking to keep the summer vibes going - are the exhibitors: AMC Entertainment (NYSE:AMC); Cineworld (OTCPK:CNNWF); Cinemark (NYSE:CNK); (IMAX); Marcus (MCS); Reading International (RDI); Cineplex (CGX:CA); National CineMedia (NCMI).