Hollywood revenues hit 8 year low

Hollywood Reporter  -To understand the upside-down summer at the box office, consider that Sony's 22 Jump Street, made for about $50 million, ended up grossing nearly as much in North America as The Amazing Spider-Man 2, the studio's $200 million-plus tentpole that represents the type of movie on which Hollywood long has relied to drive summer slates. 22 Jump Street earned $193.3 million domestically, versus $202.8 million for the Spider-Man sequel (Neighbors, another R-rated comedy, also prospered).

All the usual rules were tossed out as comedies, female-fueled films and Guardians of the Galaxy, the season's top-grossing title despite being released in the dog days of August, were left to make up for underperforming franchise pics. "Ultimately, it comes down to content, and the content just wasn't as good as it has been in previous years," says entertainment analyst Eric Handler of MKM Partners. Adds one studio executive, "many of the tentpoles that underperformed were more of the same and way too long. People ate up Guardians because it was a departure from the norm."

Domestic revenue from May 2 through Labor Day came in at an estimated $4.05 billion, an eight-year low and, when accounting for inflation, a 17-year low. Moreover, revenue was down 15 percent from last summer's record $4.75 billion, while attendance tumbled more than 5 percent. Not one film has crossed $300 million domestically for the first time since 2001, though Guardians of the Galaxy will ultimately reach that mark (its domestic cume is just north of $280 million).