Americans have finally had enough of Hollywood’s pandering to the liberal agenda (among other flaws), and Tinseltown is paying the price, literally.
Box office numbers for the summer reveal a continued and accelerating downward trend, with domestic revenues 6.3% behind last year, and even further behind 2015, 2013 and 2012.
Attendance numbers are even worse – 16% below last year, and at a 25-year low.
There are a number of reasons for this. Customer service has been waning, ideas have been lackluster resulting in a LOT of movie bombs, and, most importantly to some, Hollywood has become so unbearably liberal that it’s now difficult to take many actors seriously.
America’s growing frustration with Hollywood wasn’t seen only in declining ticket sales, but also in falling investment.
With 11,873 screens in 1,009 theaters, AMC Entertainment is the single largest theater operator in America and — are you ready for this? — its stock price has collapsed a whopping -45% since Memorial Day. Two other monster chains, Regal and Cinemark, have seen their stocks drop by -28% and -18%, respectively. Even Imax, one of the pillars (along with 3D) of the premium pricing schemes that have kept the box office looking relatively good these past few years, saw a -31% drop in the price of its shares.
And, so, Hollywood has entered a vicious cycle of its own making.
If investors start pulling out, Hollywood can’t make the big blockbusters that put movie-goers in the seats. And if the selection of good blockbusters thins out even further, who’s going to bother going to the theater?