2018 is on its way to be one of the worst years for movies, and movie fans are wondering what’s going on in Hollywood. It seems that Hollywood has perennial problems because even the sequels can no longer keep the audience in their seats. The state of affairs in Hollywood is really bad right now – the atmosphere is stifling and airless, and good fresh ideas are not being encouraged.
The industry is devoid of ambition and it begins to reflect on the quality of the movies. However, not all hope is lost for the movie industry as there is the light at the end of the tunnel. Let’s take a look at some of the statistics and facts regarding the entertainment industry.
Statistics & Facts
Despite the fact that Hollywood is going through a rough patch, the global film industry shows good projections for the following years. According to the statistics portal, global box office revenue will increase to more than $55 billion in 2020. The US is only behind China and India in terms of the number of tickets sold per year with more than 1.4 billion tickets sold in 2017. More than 30% of Americans visit the cinema less frequently than once a year, and 53% prefer watching movies at home.
What Triggered the Decline in Popularity?
First of all, Hollywood is too dependable on sequels, and the strategy seems to be deflating. The market is overrun by sequels and many of the follow-ups have greatly disappointed the viewers. This movie production studio is starting to lose its grip on the younger population because studios are trying to squeeze every successful movie and make a blockbuster out of it. It’s true that the box office is rising, but that’s mostly because the ticket prices have gone up.
With the rise of technological trends and innovations, kids are no longer interested in the traditional sources of fun. That somewhat includes going to the cinema or even watching a good movie at home with friends or family. Nowadays, kids like to watch only fast-paced, action movies on 3D, like Fast and Furious or Aquaman. Genres like dramas have almost completely sunk into oblivion as good Oscar-worthy performances are not appreciated as before.
All this decline in popularity has caused the movie industry to fall from grace. Although there are countless acting schools, there are not so many genuinely talented actors in the business. All it takes to be successful and well-paid actor in Hollywood is to work on your body, get the most out of your physique, and you are good to cast for a starring role in an action blockbuster.
Maybe we are biased because, after all, movie-going is a lifelong habit. Make no mistake, Hollywood is still making more than $800 billion per year, but it has lost its originality while trying to richly monetize movies through deals and theme parks.