‘Spider-Man: No Way Home’ provides hope for the 2022 box office, but there are still hurdles ahead


Tom Holland stars as Spider-Man in “Spider-Man: No Way Home.”

Sony

The opening weekend of “Spider-Man: No Way Home” was a welcome boost to the domestic box office.

Not only did the SonyMarvel collaboration shatter box office sales records set prior to the pandemic by raking in the second-highest debut in history, it also ensured the movie industry would tally more than $4 billion in total ticket sales for 2021.

“‘No Way Home’ proves that people will go back to cinemas if the right movie is there,” said Shawn Robbins, chief analyst at BoxOffice.com

Since reopening to the public, movie theaters have seen many ups and downs in ticket sales. The domestic box office has rebounded from historic lows in 2020, but has yet to reach the consistency seen prior to the pandemic.

Franchise films have always been popular with audiences, but during the pandemic era, this content has been the strongest draw for cinemas. In fact, Spider-Man’s $260 million opening haul is more than the total domestic gross of any movie released during the pandemic, according to Comscore data.

The three other Marvel Cinematic Universe titles released in 2021 — “Black Widow,” “Shang-Chi and the Legend of the Ten Rings” and “The Eternals” — all hold spots on the top six highest-grossing films of the year alongside Sony’s “Venom: Let There be Carnage” and Universal’s “F9.”

While these blockbuster features have rekindled faith in the future of the box office, concerns over new Covid variants as well as lackluster ticket sales for non-franchise films could mean a slower recovery for the industry.

A shift away from some genres

Since movie theaters reopened, films aimed at older audiences like “House of Gucci,” “The Last Duel” and “West Side Story” have had a harder time drawing in large crowds of moviegoers.

“Adult dramas. Comedies. Indie films. These have all been struggling before the pandemic and have come to a screeching halt during the pandemic,” said Jeff Bock, senior analyst at Exhibitor Relations. “In 2022, just looking at the release calendar, you can see Hollywood shifting away from these genres and angling more towards tentpoles even more than before.”

While these genres often make less money than major tentpoles, they are still vitally important to the overall box office. Together, these “mid-level” features contribute billions to the total annual haul, said Eric Handler, media and entertainment analyst at MKM Partners.

“The mid-level just seems to be gone right now,” he said. “We are already seeing several films from the first quarter get pushed to the summer, so omicron is definitely spooking studios. People will clearly show up for the big blockbusters.”

Throughout the pandemic, some studios opted to sell already finished movies to streamers like Netflix and Amazon Prime Video in order to breakeven and still get the movie out to the public. Paramount sold “Coming 2 America” to Amazon and “The Trial of the Chicago 7” to Netflix while Sony got a paycheck from HBO Max for Seth Rogen’s “An American Pickle” and one from Hulu for the Kristen Stewart-led “Happiest Season.”

Others, who foresee a solid payday at the box office, have continued to punt release dates further down the calendar. This includes Paramount’s “Top Gun: Maverick” and Universal’s “Minions: The Rise of Gru.”

“Streaming is always going to be the box office’s biggest foe going forward,” Bock said. “And this boils down to content and the creators of that content. With huge deals involving major talent, the streamers are syphoning A-list talent away from the big screen at a rate the industry has never seen before.”

In the U.S., many movie theaters require audiences to wear masks, even if local and state governments don’t have mandates. On Monday, Quebec shut down movie theaters in its province, but it’s unlikely that a similar move would occur in the U.S. As the pandemic has worn on month after month, there has been less of an appetite for mask mandates and even less for lockdowns.

A break from hybrid releases



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