Firstly, the Hollywood film industry has faced significant challenges due to the ongoing strikes by writers and actors last year. This situation has led to a noticeable decrease in the number of films being released, particularly in the horror genre, which has traditionally been a staple for the industry. Audiences have had to wait longer to experience anticipated blockbusters, resulting in a decline in ticket sales and a noticeable shift in the overall dynamics of film releases.
Alongside this, the rise of streaming services has also contributed to the diminishing allure of movie theaters. With a vast library of films available at home, audiences are increasingly opting to watch their favorite titles from the comfort of their living rooms. The convenience and diversity offered by streaming platforms have made visiting theaters less appealing, especially for films that do not generate significant public interest.
The combination of these factors has created a “perfect storm” for the box office, leading to a sharp decline in ticket sales anticipated for 2024. The question remains: can the film industry overcome this “storm” and regain its former glory? Or will theaters continue to face unprecedented challenges? The answer is still uncertain, but it is clear that the film industry must navigate significant hurdles in the coming years.
Below are some of the most notable box office failures of recent times.
Furiosa
‘Furiosa’ debuted with a modest box office gross of $32 million during its long Memorial Day weekend release. According to The Wrap, this film was the top box office draw during the holiday but still underperformed compared to any previous release during this weekend since 1995.
Additionally, as reported by Screen Rant, ‘Furiosa’ recorded the largest second-week drop in the history of the “Mad Max” franchise, plummeting by 59%. This is a concerning indicator for the film’s overall performance.
Moreover, although Anya Taylor-Joy (playing Furiosa) has gained fame, she has not yet reached the level of an A-list movie star. Her breakout role in “The Queen’s Gambit” has been overshadowed by other major films like “Dune: Part Two” and “The Menu,” which featured more prominent actors such as Timothée Chalamet, Zendaya, and Ralph Fiennes.
The Garfield Movie
We cannot fully attribute ‘Furiosa’s box office struggles solely to its performance, as another film, ‘The Garfield Movie,’ was released concurrently. This animated film, featuring Chris Pratt as the voice of Garfield, only earned $31 million during its opening week. Together, both films only managed to achieve a combined total of $63 million at the box office.
Following the tremendous success of “The Super Mario Bros Movie” (which also starred Pratt), ‘Garfield’ appears to be lagging behind. In contrast, another major animated release this year, “Kung Fu Panda 4,” opened with $57 million and has already grossed $541 million globally.
‘Garfield’ will face another challenge when it competes with ‘Inside Out 2’ on June 14.
The Fall Guy
‘The Fall Guy’ did not manage to create a significant box office impact, much to the surprise of many. This action-comedy featured two major stars currently dominating the box office, yet it fell short of expectations. Variety reported that the film was projected to earn between $30 to $40 million during its opening week, but it only accumulated $28.5 million. To date, the film has grossed $158 million worldwide.
As Jason Guerrasio from Business Insider pointed out prior to the film’s release, May marked the first time in 17 years (since 2020) that a Marvel film did not dominate the summer box office. The Marvel film released in May last year, “Guardians of the Galaxy Vol. 3,” earned $118 million during its opening week.
Argylle
‘Argylle’ has failed to even cover half of its production costs. It is hard to believe that a spy action film featuring a star-studded cast, including Sam Rockwell, Henry Cavill, Bryce Dallas Howard, Samuel L. Jackson, Catherine O’Hara, Bryan Cranston, and Dua Lipa, has not managed to gross $100 million at the box office.
With a production cost of $200 million backed by Apple, ‘Argylle’ is officially considered a box office “bomb.” Although Apple has not publicly acknowledged ‘Argylle’ as a failure, the film’s low box office revenue has led many to believe that it has been a significant loss for the company.
Drive-Away Dolls
‘Drive-Away Dolls’ is the lowest-grossing film by the Coen brothers in 33 years. Directed by Ethan Coen, this is his first solo directorial effort without the involvement of his brother Joel (who had directed the documentary “Jerry Lee Lewis: Trouble in Mind” in 2022).
This film also marks the first time a Coen brother’s film has grossed under $10 million since 1991, with ‘Barton Fink’ earning $6.2 million compared to ‘Drive-Away Dolls’ which has garnered only $6.8 million. Since then, the Coen brothers have produced 14 films, with one reaching as high as $252 million in box office revenue (“True Grit”).
