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The effects of the pandemic are reflected in Hollywood with irreversible changes, such as the drop in the distribution window between theaters and other media, which is now 45 days (half the time).
Despite taking a hit from Covid-19, the film industry, at least in the United States, is expected to see growth of 8.3 percent between 2021 and 2027.
Though “Everything Everywhere All at Once” is now available on home entertainment platforms, ticket sales have continued to rise.
A24’s wacky comedy;“Everything Everywhere All at Once“, surpassed a major milestone at the box office, grossing more than $100 million in ticket sales worldwide. It’s the first movie A24 to reach that box office benchmark.
Since the film hit theaters in March, the multiverse adventure has become the rare independent box office hit on its journey to become A24’s highest-grossing film of all time. Until now, “Everything Everywhere All at Once” it has generated $68.9 million in the United States and another $31 million internationally, bringing its global tally to $100 million.
The impact of COVID-19 on the film industry
The effects of the pandemic continue to be experienced in many industries. For Hollywood it has already implied irreversible changes such as the decrease in the distribution window between cinemas and other media and that is now 45 days (half the time). This and the change in dynamics has made the return to the cinema more complicated than expected.so this milestone is a breakthrough in the industry since Covid-19 started.
Despite taking a hit from the Coronavirus pandemic, the US film industry is expected to see 8.3 percent growth between 2021 and 2027. And this despite a market size decline of 10 percent. .2 percent per year between 2016 and 2021. In 2019, the industry was worth $42.2 million and was not expected to exceed that previous figure until 2027, when the industry is estimated to reach $43.9 million..
But “Everything Everywhere All at Once” It’s not the only movie taking the lead this week “Top Gun: Maverick” surpassed “Avengers” to become the ninth highest-grossing feature film in US history.
According to information from Variety, “Top Gun: Maverick” reached 623 million dollars in the North American country; thus moving from ninth position to “avengers“ and its 623.3 million. However, analysts Hollywood believe that Tom Cruise’s film still does not have enough and, in a few days, could surpass “Titanic” and “Jurassic World”, which occupy the seventh and eighth position with 659 and 653 million dollars, respectively.
The success of “Everything Everywhere All at Once”
In A24, Adam Sandler’s anxiety-inducing drama “Uncut Gems” previously ranked as the company’s biggest North American opening at $50 million, while Ari Aster’s gruesome horror film “hereditary” It was ranked as the one that generated the most income worldwide with 79 million dollars. Other popular A24 films at the box office include “Ladybird” by Greta Gerwig ($78 million worldwide) and Oscar winner “Moonlight” by Barry Jenkins ($65 million).
Though “Everything Everywhere All at Once” is now available on home entertainment platforms, ticket sales have continued to rise. Over the weekend, A24 re-released the film in theaters across the country with an additional eight minutes of outtakes, as well as a pre-recorded message from the filmmakers. The film grossed $650 billion from 1,490 locations between Friday and Sunday.
With its $25 million production budget, “Everything Everywhere All at Once” it appears to be one of the few independent films to turn a profit theatrically in times of pandemic. The film was able to benefit from a platform release, meaning the film was released in select theaters to build awareness and increase word of mouth before slowly expanding nationally.
Despite the impacts of the coronavirus pandemic, the film industry continues to produce films, and the figures show that there are still people interested in attending certain types of premieres.