The 2024 Memorial Day weekend, traditionally a significant period for movie theaters, saw the worst box office sales in decades, marking a severe setback for Hollywood, which has faced challenges in recent years.
This weekend’s box office performance was notably poor, with Warner Bros.’s “Furiosa” leading the sales but still falling short with a $32 million domestic opening. This marks the lowest Memorial Day weekend number one performance since 1995’s “Casper,” which earned $22.5 million, excluding the pandemic-affected year of 2020 when theaters were closed.
In comparison, recent Memorial Day weekends have seen much stronger performances. Last year, Disney’s live-action adaptation of “The Little Mermaid” opened with $118 million, and Paramount Picture’s “Top Gun: Maverick” launched with $160 million in 2022. Even “Furiosa’s” predecessor, “Mad Max: Fury Road,” opened with $45 million in 2015.
Analysts attribute this year’s disappointing results to several factors. Last year’s strikes halted production for months, delaying releases such as Disney’s “Deadpool & Wolverine” to late July and pushing Disney’s “Lion King” origin story, “Mufasa,” to December. Paramount’s eighth “Mission: Impossible” installment has also been postponed until next year, leaving a notable absence of major summer kickoff films.
John Nolte of Breitbart News comments on the underlying issues, stating, “Furiosa is shaping up to be a financial catastrophe. It cost $168 million to produce, so let’s call it an even $200 million with promotion costs. That puts break-even at around $400 million. The global take this weekend is a dreadful $59 million.” He argues that the core problem is the quality of the movies themselves, rather than external factors like the pandemic or production delays.
Millions of viewers have reportedly turned away from new films due to Hollywood’s increasing focus on political messaging rather than entertainment. Nolte suggests that Hollywood will continue to face difficulties until it prioritizes entertaining its audience over delivering progressive political lectures.
Hollywood’s hopes for a strong summer start have faltered, highlighting the industry’s ongoing struggle to regain its footing and appeal to a broad audience.