Films made for the Oscar seem to no longer interest the public: what happens?

A year ago, Hollywood watched in despair as Oscar-oriented films like “Licorice Pizza” and “Alley of Lost Souls” struggled at the box office.

The day seemed to have come when prestigious films were no longer viable in movie theaters. and streaming had forever altered the seventh art.

However, the studios did not give up hope, deciding that November 2022 would give them a more accurate read of the market. By then, the coronavirus would no longer be as big a factor. This fall would be an opportunity to show that not only superheroes and sequels could be successful.

It has been a carnage.

One after another, adult films have failed to find a large enough audience to justify their cost. “Armageddon Time” cost an estimated $30 million to make and promote and grossed $1.9 million at the US and Canadian box office.

“Tár” cost at least 35 million dollars; ticket sales total $5.3 million. Even a charming Steven Spielberg film got off to a shaky start: “The Fabelmans” grossed $5.7 million in its first four weeks of limited runs. It cost $40 million to do so.

The problem is that “people have felt more comfortable watching these movies at home,” said David A. Gross, who publishes a box office newsletter.

Some studies still blame the coronaviruss. But older audiences, initially reluctant to return, have come to see movie theaters as safe from the virus, analysts said.

Others see a problem with the content. Most of the films that are struggling are downbeat at a time when audiences want an escape.

Some studio executives insist that the box office total is an outdated way of evaluating a feature film’s financial performance.

Focus Features films such as “Tár” and “Armageddon Time” are now available for video-on-demand rental at a premium after just three weeks in theaters. (Before, theaters got an exclusive window of about 90 days.)

The concern in Hollywood is that conglomerates that have specialty film studios decide that there is no performance enough to continue releasing prestigious films in theaters.

Others recommend patience. Gross said that “The Fabelmans” is reaching more theaters, hoping to take advantage of the awards rumors and the holiday season.

“I think the movies are going to come back,” Spielberg recently told The New York Times.

By: Brooks Barnes