As August saw the steepest monthly decline in box office revenue in history with a 16% tumble from last year, September isn't shaping up to do much better, according to the Hollywood Reporter.
For the first time in a quarter century, there are no new films debuting nationwide this Labor Day weekend, putting September off to a soft start already. August marked the first time a summer didn't make $4 billion in ticket sales since 2006, according to data from comScore, and summer attendance slid to a 25-year low in terms of tickets sold last month.
The Weinstein Co. period drama "Tulip Fever" will open this weekend, but only to a limited audience in 600 locations. It was originally set to open last summer, but has been pushed back repeatedly. Labor Day hasn't been without a nationwide opener since 1992, which was the worst Labor Day ticket sales performance ever.
Absent a new title, Lions Gate (LGF.A) holdover "The Hitman's Bodyguard" will likely take the top spot for a third week, tracking to earn $5 million to $7 million this weekend. Sony Corp.-owned (SNE) - Get Report Sony Pictures Entertainment will release Steven Spielberg's "Close Encounters of the Third Kind" in about 900 theaters to commemorate the film's 40th anniversary.
Stock of movie theater operator AMC Entertainment Holdings Inc. (AMC) - Get Report has crumbled this summer, down 43% since Memorial Day. Industry peer Regal Entertainment Group (RGC) is down 25% in the same period.
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