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After a slump in revenue, box offices are ready for a comeback | Entertainment | themountaineer.com

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Date: 2022-09-22 23:19:27

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Throughout the pandemic, movie theaters across the country suffered the blow of plummeting ticket sales. Cineworld Group PLC, the second-largest cinema chain in the world, which owns Regal Cinemas, confirmed in August 2022 that it is preparing to file for bankruptcy protection as a result of poor box office sales in large part due to the pandemic. Cineworld still expects to continue its operations even after filing, but investors in the company could face significant losses.

Nonetheless, there have been sure signs that going to the movies remains a staple activity for Americans. The top movie of 2021, "Spider-Man: No Way Home," took in more than $572 million in the U.S. that year alone and has grossed more than $800 million overall, making it the third most financially successful movie in history. And thus far 2022 has outearned 2021 by nearly $700 million, with four months yet to go before the year's end.

Perhaps the biggest reason? Paramount Pictures and Skydance Media's "Top Gun: Maverick" has been call sign "smash," surpassing $1.4 billion worldwide in its 13th weekend of release.

Original Source: https://www.themountaineer.com/lifestyles/entertainment/after-a-slump-in-revenue-box-offices-are-ready-for-a-comeback/image_71aadc36-9ba6-50ff-9938-86c9e0dfaa81.html