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That includes Universal’s “ET The Extra Terrestrial,” which took in $1.07 million last weekend — more than the totals of new movies like “Mac and Rita” and “Emily the Criminal.” Not bad for a 40 year old movie.
And the comeback isn’t the only big hit.
why? Covid has played a role.
Re-released re-released
Because there were no new movies coming in, the pandemic encouraged reruns in movie theaters, Dergarabedian said. “Theaters are no longer looking for new movies to put on their screens, and with 30% fewer releases this year, it’s no surprise that this is a great trend.”
Bringing back favorites is good business for theaters and studios, says Dergarabedian.
“The re-release is great for theaters because it allows them to put more films on their screens,” he said. “And it’s great for studios who can dig into their coffers and find revenue from movies that were released years ago, but are now being given new life on the big screen.”
“‘Top Gun: Maverick’ is a natural phenomenon at this point,” Sean Robbins, chief analyst at Boxoffice.com, told CNN Business. “The film’s raw staying power has reinforced calls for it to be given premium screen allocations again and again when other content has dried up.”
And there are more re-releases coming next year.
“I think there’s an argument that small to medium scale should happen again with IMAX and other formats more often,” Robbins said. “While there’s no substitute for new releases that hold large audiences, selecting older content can provide valuable additional revenue for many theater owners and studios.”
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