Many working in entertainment were no doubt hoping 2024 would be a comeback year for the industry.
After a series of terrible disasters — a 2023 filled with box office flops, union strikes, skyrocketing production costs, the collapse of the streaming model, etc. — it appears that 2024 is indeed a comeback year for entertainment… though, not in the way many were hoping.
The “comeback” now taking place is a return of content from years ago before “wokeness” overtook the industry.
Streaming audiences are watching older shows more than newer ones. Gamers are playing older video games more than the latest releases. And now, theatergoers would rather spend their money on a re-release of 2004’s “Shrek 2” than on many of Hollywood’s latest animated films.
Universal Pictures decided to bring the film back to theaters for one week beginning this past Friday to celebrate its 20th anniversary.
Based on the returns from the re-release’s opening weekend, it appears that decision was a smart one.
According to Box Office Mojo, the film brought in an impressive $1.45 million over the weekend in the U.S.
Though it is a modest number compared to a typical big-budget opening weekend for a new release, $1.45 million is actually more than several recently released films made during their entire domestic runs.
Would you rather see a classic re-release than a new Hollywood movie?
And, mind you, these films were being released for the first time rather than as re-releases (though, each of the three listed below first debuted on Disney Plus).
‘SHREK 2’ re-release earned more money on its opening weekend than ‘TURNING RED,’ ‘LUCA’ and ‘SOUL’ made in their entire theatrical run. pic.twitter.com/I7ljDGTz6O
— The Hollywood Handle (@HollywoodHandle) April 14, 2024
One example, the highly controversial 2022 Pixar film “Turning Red” (parents decried the film for showing a child character twerk), only made $1.39 million in its entire run, per Box Office Mojo.
Similarly, the Disney films “Luca,” released in 2021 and “Soul,” released in 2020, only earned $1.32 million and $946,154 in their domestic runs.
It appears that this re-release trend is catching on.
Doug Davis, the CEO of the film distribution company Park Circus, claims it’s “a definite boom time” for classic movie re-releases.
“As a company and a classics market, we think it’s an all-time high,” Davis said according to Screen Daily.
“That’s partly because during Covid, exhibitors – while they were still able to operate – had a dearth of product. They experimented with classic products and, in almost all cases, it worked and they wanted to stick with it.”
