The box office delivered its worst Memorial Day performance in nearly 30 years

The US box office may need to call Life Alert – because it’s fallen and needs help getting up. Over the four-day Memorial Weekend, movies shown in theaters generated an estimated $128 million in sales, a 29-year low (excluding 2020 when theaters were closed) and down ~37% from last year.

• Furiosa: A Mad Max Saga led the US box office with ~$32 million, while the lasagna-powered Garfield Movie came in second with ~$31 million.

Last year’s Hollywood strikes are having a lasting impact. Production schedules were pushed back as a result of the labor disputes, causing studios to delay the release of so-called “tentpole” movies.

• Case in point: Marvel Studios usually premieres a superhero tentpole in the first weekend of May – this year it was supposed to be Deadpool & Wolverine – but ended up pushing the film’s release back nearly three months.

No tentpole movies = lower box office numbers. So far this year, no movie has come close to hitting a $100 million domestic opening – while by this time in 2023, three had already accomplished the feat.

👀 Looking ahead… Industry analysts estimate the total US box office this summer to come in at slightly over $3 billion, compared to last summer’s $4.1 billion (driven in large part by Barbenheimer). But this summer does offer some potential hits to right the box-office ship – including Despicable Me 4 (July 5), Twisters (July 19), Inside Out 2 (June 14) and Deadpool & Wolverine (July 26).