Quick Bite | Barbenheimer helps box office get back on track
August 09th, 2023 | Article
By: Paul Zwi
Anyone not aware of the Barbenheimer phenomenon must be living in a cave. Just five days after their marketing masterstroke simultaneous release, the inextricably linked “Barbie” and “Oppenheimer” have crushed the box office. Ticket sales for Greta Gerwig’s pink-tinged romp has crossed $200 million and Christopher Nolan’s serious three-hour “Oppenheimer” has surpassed $100 million, with lots more to come. Although I’m not a movie critic, I do take my films seriously and so I’ll share my scores with you. “Oppenheimer” is a must-see masterpiece, and although probably 30 minutes too long, it still gets 5/5. “Barbie” is lots of fun, suitable for date-night, and both Margot Robbie and Ryan Gosling are terrific: I give it 4/5.
How about the rest of the box office?
With theaters shuttered in 2020, box office revenues plummeted. In 2021, global theatrical revenues jumped 70%. Superheroes like Spiderman drew audiences back to the big screen. In 2022 the recovery continued, rising 27% year on year as studios released further installments of big franchises like Top Gun, but nevertheless, the global box office in 2022 was still 39% beneath the market in 2019. In the US total attendance in 2022, as measured by the number of tickets sold, was 34% lower than in 2019.
The decline in movie theater attendance began well before the pandemic as flat-screen technology improved, streaming services gained ground, and as content shifted focus to high quality television series like Game of Thrones. Those developments also drove continued declines in cable television.
If you want a good movie experience, Barbenheimer might just do the trick.
Disclaimer: Clime Asset Management Pty Limited | AFSL 221146 | ABN 72 098 420 770. The information provided in this post is intended for general use only. The information presented does not take into account the investment objectives, financial situation and advisory needs of any particular person, nor does the information provided constitute investment advice. Under no circumstances should investments be based solely on the information contained therein. Please consider the relevant disclosure document/s before investing in one of our products. Investment in securities and other financial products involves risk. An investment in a financial product may have the potential for capital growth and income but may also carry the risk that the total return on the investment may be less than the amount contributed directly by the investor. Investors risk losing some or all of their capital invested. Past performance of financial products is not a reliable indicator of future performance or returns.
The information contained in this website and video presentations is of a general nature. It is not advice or a recommendation to invest in a financial product and constitutes general financial product advice only. The advice has been prepared without taking into account your objectives, financial situation or needs. You should, before acting on the advice, consider the appropriateness of the advice having regard to your objectives, financial situation and needs. Before making a decision about whether to acquire a financial product, you should obtain and consider the Product Disclosure Statement, Information Memorandum or Financial Services Guide. We encourage you to obtain professional advice before deciding to invest in a financial product.
Investment in securities and other financial products involves risk. An investment in a financial product may have the potential for capital growth and income but may also carry the risk that the total return on the investment may be less than the amount contributed directly by the investor. Investors risk losing some or all of their capital invested. Past performance is not a reliable indicator of future performance.