March 29, 2024
Box Office: 'Old' is the new Number 1
HOLLYWOOD - In a twist fitting for an M. Night Shyamalan thriller, “Old” is the No. 1 movie at the domestic box office with $16.5 million in ticket sales.

Last week, reigning champ “Space Jam: A New Legacy” and fellow newcomer “Snake Eyes” were projected to lead North American charts. Instead, “Space Jam 2” had a huge decline from its opening weekend and “Snake Eyes” fell slightly short of expectations, leaving “Old” to slither to a surprising first place finish.

It demonstrates how wild and unpredictable the box office can be as it tries to recapture momentum during the pandemic and grapples with new hybrid distribution strategies. Stability won’t return anytime soon. New variants of COVID-19 have been driving a spike in infections, recently forcing Los Angeles, the country’s top moviegoing market, to reinstate its mask mandate. David A. Gross, who runs the movie consulting firm Franchise Entertainment Research, says the Delta variant presents a setback for not just the film industry, but the world.

“With only half of the U.S. fully vaccinated and the pace of shots at around half a million per day, the business can operate profitably, but full strength is going to take more time now,” Gross says.

Universal’s “Old,” a horror story about a family vacationing at a beach that causes them to age rapidly, as well as Paramount’s “Snake Eyes,” a “G.I. Joe” origin story starring Henry Golding — are only playing in theaters. That’s a deviation from the release strategy deployed by other summer movies, including Disney’s “Black Widow” (also on Disney Plus for an extra fee) and Warner Bros.’ “Space Jam: A New Legacy” (on HBO Max at no additional cost to subscribers). “Snake Eyes” is moving to Paramount Plus 45 days after its theatrical debut, while “Old” will have a traditional home entertainment release.

“Snake Eyes” opened in second place with $13.3 million from 3,521 locations. That’s a disappointing start for a movie that cost $88 million to produce, Variety.com reported.
Story Date: July 31, 2021
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