A Gloomy Summer for Hollywood


Vanessa Obioha

New Bloomberg reports indicated that Hollywood blockbusters didn’t have a glowy summer after all. The reports revealed that top movies in the industry lost a staggering $1bn, compared to last year’s deficit: $546.3m. The loss is hugely blamed on top movies not breaking box-office records such as the worst-hit film Ben-Hur (estimated loss $120m) than small films unable to attract much attention.

Critics also imputed the falling figures to sequel fatigue, the rise in popularity of streaming and small-screen programming, bad reviews and other factors.

Other major falls include the rebooted Ghostbusters, Pete’s Dragon, Star Trek Beyond, Alice Through the Looking Glass, among others. Only films like ‘Me Before You’, ‘The Conjuring 2’, ‘Central Intelligence’ and few others were rated best performance of the season.