Transcript

Why the Movie Business Is Suddenly Back in a Big Way · Direct From Hollywood with Ryan Seacrest

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Speaker 1: Direct from Hollywood with Ryan Seacrest.
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Speaker 2: After the crippling impact of the global pandemic, it was
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Speaker 2: almost a foregone conclusion that the days of going to
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Speaker 2: the movies would become a thing of the past sooner
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Speaker 2: than later. But I'm happy to report that the death
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Speaker 2: of the movie theater overestimated. In fact, driven by the
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Speaker 2: phenomenal success of several movies this year, the movie business
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Speaker 2: is booming. According to Variety, the US box office has
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Speaker 2: already raked in three point two billion in twenty twenty three,
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Speaker 2: which is more than a thirty six percent improvement from
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Speaker 2: this time last year. Well, what's even more astonishing, it's
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Speaker 2: nearly five hundred and ninety percent better than twenty twenty one.
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Speaker 2: There are a few things at play here, perhaps most importantly,
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Speaker 2: the public's comfort with being back in theaters, plus familiar
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Speaker 2: franchises with a big draw help. It's also many studios
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Speaker 2: realizing that debuting their top releases on the big screen
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Speaker 2: rather than going straight to streaming, just makes more business sense.
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Speaker 1: That's Direct from Hollywood,