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Sony Pictures Is ‘Optimistic’ About Box Office Recovery: ‘Bad Boys: Ride or Die’ Is Going to Be ‘Just Fine’
Sony Pictures' management says it is optimistic about the further recovery of the box office once supply has normalized.
Sony Pictures Entertainment’s senior management says it remains “optimistic” about the future of cinema, despite a slow start to the North American summer season and industry talk of superhero fatigue. Speaking on a Sony Group Corporation conference call (on Thursday in Japan, Wednesday in Los Angeles), Sony Pictures Entertainment CEO Tony Vinciquerra blamed current box office torpor on three prongs of disruption that have affected movie production over the past five years: competition with streaming; the disruptions and cost increases brought on by the COVID-era; and last year’s writers and actors strikes. Consultancy firms such as Gower Street Analytics have forecast a slight year-on-year reduction in global box office in 2024.
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