“Top Gun” is bringing more audiences back to the movie theatres. But the industry’s recovery is far from complete
Save time by listening to our audio articles as you multitaskCinema owners are feeling similarly defiant. Worldwide box-office receipts fell by 72% in 2020, when the pandemic forced film buffs to say goodbye to the silver screen and hello to their sofa. After ticket sales recovered only partially in 2021, many predicted curtains for theatres. Yet “Top Gun”, a sequel to a classic of the genre from 1986, raked in $248m on its opening weekend, the biggest-ever debut for a film starring Mr Cruise.
Theatre owners hope that “Top Gun” heralds the beginning of a broader recovery. It is only the fourth-biggest opener of the pandemic era . However, the other big hits—Sony’s “Spider-Man: No Way Home” last December, Marvel’s “Dr Strange in the Multiverse of Madness” in May, and Warner Bros’ “The Batman” in March—have all been superhero flicks, with young fans. “Top Gun”, by contrast, sold 55% of tickets to over-35s.
The recovery is far from complete. This year’s worldwide box office will be only about three-quarters of 2019’s, forecasts Gower Street Analytics, a research firm. China, which these days rivals America as the biggest cinema market, is still locked down and in any case increasingly hostile to Hollywood . Russia is also off-limits since its invasion of Ukraine. Above all, studios are focusing attention and resources on their streaming platforms, releasing fewer films in cinemas, for shorter runs.
The summer release slate is promising: June will see “Jurassic World: Dominion” from Universal and “Lightyear”, the latest in Disney’s “Toy Story” series. “Thor: Love and Thunder”, the next Marvel movie, is out in July. Yet there will be strong reasons to stay at home, too. On the day that “Top Gun” was released, Netflix unveiled its latest season of “Stranger Things” and Disney+ launched a “Star Wars” spin-off, “Obi-Wan Kenobi”.
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