Hollywood’s tendency to forget its past failures is well-known. Analysts consistently predict the downfall of the film industry, only to be proven wrong by unexpected successes. This summer has been no different, with underperforming blockbusters like “The Flash” and “Indiana Jones” sparking concern among experts. However, there was a dramatic turnaround last weekend, thanks to the head-to-head releases of Greta Gerwig’s “Barbie” and Christopher Nolan’s “Oppenheimer.” Despite their stark differences, both films exceeded their projected earnings and collectively contributed to the fourth-largest opening weekend in history. This success offers a glimmer of hope for the industry this summer. Unfortunately, ongoing strikes by actors and writers seem to indicate that studios are determined to sabotage any real progress in the field.
Initially, pitting “Barbie” against “Oppenheimer” seemed like a risky move. However, the stark contrast between Gerwig’s comedic, brand-name film and Nolan’s serious, three-hour biographical epic generated its own buzz. Ultimately, “Barbie” grossed $162 million, breaking the record for the highest-earning film directed by a woman, while “Oppenheimer” earned $82 million, marking Nolan’s biggest non-Batman opening weekend.
This tremendous success is a welcome relief after months of lackluster sequels. It clearly demonstrates that audiences crave high-quality content. While blockbusters continue to have their place, relying solely on established franchises like DC Comics and “Fast & Furious” is no longer a guaranteed formula for success. “Barbie” and “Oppenheimer” resonated with audiences because they received positive reviews and offered compelling experiences. “Barbie” was a hilarious and joyful film to watch with a crowd, while “Oppenheimer” dazzled visually, particularly on large premium screens like IMAX. Both movies received outstanding CinemaScores, indicating positive word-of-mouth, which bodes well for their continued success at the box office throughout August.
Nevertheless, trouble looms on the horizon, as evidenced by the recent events of the past weekend. The romantic tennis dramedy “Challengers,” featuring Zendaya, changed its release date from September 15 to April 26 of the following year, effectively canceling its premiere at the Venice Film Festival. Directed by Luca Guadagnino (“Call Me by Your Name”), the film was set to receive a grand theatrical push from MGM. However, due to the ongoing strike by the Screen Actors Guild (SAG), Zendaya and her co-stars may not be able to promote the movie, posing challenges for a project heavily reliant on star power.
Several other projects have already suffered delays due to the strike, including A24’s indie comedy “Problemista,” Lionsgate’s inspirational drama “White Bird,” and a sequel to “Dirty Dancing.” Rumors are circulating that Warner Bros. might further postpone the release dates of their highly anticipated films such as “Dune Part Two,” “The Color Purple,” and “Aquaman and the Lost Kingdom,” all scheduled for 2023. This strike-induced uncertainty also affects other major upcoming releases, including Martin Scorsese’s “Killers of the Flower Moon,” superhero entry “The Marvels,” and a “Hunger Games” prequel. The success of these films relies heavily on stars engaging with the press circuit, a task that becomes impossible when actors are on strike. The casts of “Barbie” and “Oppenheimer” were fortunate enough to complete their media interviews before the strike commenced.
A crisis is not only brewing; it is already here. Each day that movie studios neglect to resume negotiations with SAG and the Writers Guild of America (WGA) puts the future of Hollywood at risk. The film industry was already grappling with existential anxieties exacerbated by the COVID-induced delays. With more movies opting for streaming distribution, audiences grew accustomed to watching new releases from the comfort of their homes. However, the success of “Barbenheimer” is a powerful reminder to audiences of all ages about the value of experiencing films on the big screen. Failing to capitalize on this renewed enthusiasm would be a catastrophic mistake.
Unfortunately, it seems that the Alliance of Motion Picture and Television Producers (AMPTP), the trade association representing major studios, is willing to make this mistake. The WGA strike has been ongoing for 84 days, and there are no signs of negotiations resuming in the near future. According to an article by “Deadline,” quoting an anonymous “top-tier producer,” the studios are likely to prolong the standoff until at least October. The AMPTP refutes this claim, asserting its commitment to reaching a deal. Nevertheless, the article highlights the toxic dynamic between the WGA and the studios, with disputes involving residuals, generative AI usage, and streaming data sharing.
The entertainment industry has weathered numerous WGA strikes over the years. However, the surprising and immediate impact of the SAG strike stands out as particularly influential. It effectively halted major film productions and disrupted future release schedules. The negotiations for both unions involve similar issues, such as streaming residuals and AI usage, which perhaps explains the studios’ reluctance to quickly strike a deal with SAG. The higher-ups in Hollywood seem determined to spiral into self-destructive behavior, unsure of how to negotiate a mutually beneficial agreement that avoids punishing both the unions and themselves.
At this point, any further delays in resolving the strikes could prove borderline apocalyptic for the film industry. If studios continue to delay negotiations for months, attempting to force the unions into a desperate state, their products will remain locked away from cinemas, resulting in plummeting ticket sales. Hollywood’s best opportunity to recapture pre-pandemic levels of success will slip away. While “Barbie” and “Oppenheimer” will continue to attract audiences, and a few action films like “Teenage Mutant Ninja Turtles” and “Meg 2” might achieve moderate success in August, the current celebration of box office achievements will soon fade into insignificance. Hollywood has received its clearest confirmation since 2019 that movies can still draw in-person audiences, and it would be wise to continue releasing films to capitalize on this momentum.
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