1 Problem That's Holding Back Movie Theater Operators
There's a popular bearish narrative out there when it comes to the local multiplex, and you've probably even repeated it yourself. Folks aren't going to the movies the way they did before. Streaming from home is too easy and convenient, and the retro charm of a cinema screening is a fading art form.
The numbers tell a different story. Paramount Global's (NASDAQ: PARA) Scream VI was the top draw at the box office over the weekend. The $44.5 million in domestic ticket sales is an opening-weekend high for the franchise. The $22.6 million collected overseas was also a high-water mark for the Scream films.
It's not a fluke. Creed III topped the big-screen chart a week earlier, taking in a better-than-expected $58.7 million in its stateside weekend debut. It wasn't just the biggest opening for a Creed or Rocky movie -- it was the highest-grossing opening for any sports film.
Source Fool.com
