![]() Universal Studios and Paramount Pictures have a spending problem. Ever-ballooning production budgets, further spending on advertisements, troubling headlines, streaming, and audience fatigue all explain why audiences are not going to the theaters as much as they used to. ![]() While studio executives are reeling at their financial disappointments, it does not take a financial expert to figure out why the summer box-office is flat-lining. 3 was a box-office success the others fell far below studio expectations. Of these six, only Guardians of the Galaxy: Vol. 3, Fast X, The Little Mermaid, Transformers: Rise of the Beasts, The Flash, and Elemental) with budgets of $200+ million. Hollywood studios have a spending problem, but unlike previous summers, the tentpole releases are failing in larger numbers than ever before.īetween May 5, 2023, to June 23, 2023, there were six major Hollywood releases ( Guardians of the Galaxy Vol. Going into July 2023, that hope has all but evaporated. While the ever-growing pressure from the Writers Guild of America strike shows no signs of ending, studio executives hoped to find relief in their signature summer box-office profit earnings. We’re six months into 2023, and Hollywood is in trouble.
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