Nearly 40 years later “Ghostbusters” became a smash hit — one that launched a lucrative franchise spanning film, television and video games — Sony is proving the business of busting ghosts need not be a relic of the past.
“Ghostbusters: Afterlife,”The latest installment of the comedy sci-fi franchise, $44 million, was the domestic box office debut. This is a strong start in uncertain times. The drop in ticket sales between its first and second weekend in theaters will be an important indication of audience’s affinity for all things paranormal, but at least for now, positive reviews and a healthy dose of nostalgia appear to be a winning mix for Sony. It’s an important victory for the studio after it failed in 2016 to revive the decades-old paranormal series.
David A. Gross, the head of the movie consulting company Franchise Entertainment Research, called the results for the opening weekend “excellent”Notes that there are four installments. “Ghostbusters”is the longest-running franchise in action-comedy. He predicts that ticket sales will increase for “Afterlife”Sony will be encouraged to continue with new installments. “The series is set to break ground and continue into the future,”Grosses adds.
For Sony, the stronger-than-expected debut of “Afterlife” couldn’t come at a better time. Pandemic or no, audiences are increasingly gravitating toward action-packed showpieces and shunning mid-budget dramas. Traditional studios have become more dependent on successful franchises that can produce sequels, reboots, and offshoots. Sony has found success through Spider-Man characters, which it licenses from Marvel Studios, but outside of Venom and everyone’s favorite web-slinger, the studio has revisited some of its biggest properties to mixed results. The 2017 “Jumanji: Welcome to the Jungle” ($962 million globally) and its sequel, 2019’s “The Next Level”($800 million global), and its 2020 threequel “Bad Boys for Life”Dwayne and Kevin Hart’s commercial success, which brought in $426 million globally, were due to the incredible chemistry between them and Will Smith (and Martin Lawrence) in the latter. But 2019’s “Charlie’s Angels”($73 Million Worldwide) “Men in Black: International”($253 Million Worldwide) failed to capture the magic of its predecessors and was an immediate failure at the box-office. Retreads from other studios, like Paramount’s “Terminator: Dark Fate” and Universal’s “The Mummy”Other high-profile efforts, such as Tom Cruise’s, fell flat in the theaters. Even before COVID-19 upended the moviegoing landscape, Hollywood had been finding out the hard way that familiar properties don’t necessarily translate into box office glory. It’s something Warner Bros. will test in December with “The Matrix: Resurrections,” the fourth entry in the sci-fi series that hasn’t had a new chapter in theaters since 2003.
“Audiences are becoming very selective because they have so many options available at home,”Paul Dergarabedian is a senior media analyst at Comscore.
With “Ghostbusters,” it’s worth noting the 2016 ill-fated revival, starring an all-female cast of Kate McKinnon, Melissa McCarthy, Leslie Jones and Kristen Wiig, earned $46 million in its box office debut — $2 million more than “Afterlife.”This film was able to close its theatrical run with $128million domestically and $229million globally. “Afterlife”You would be very lucky to have the opportunity to do so, at least here in America. The production cost of the 2016 film was $144 million. This made it impossible for the studio to make a profit and cost them millions. For the newest installment, Sony sliced the budget in half to $75 million so it doesn’t have to make nearly as much money to get out of the red. Sony will need to keep future installments’ prices low to be able to afford a return to the big-screen.
Studios and movie theatres can both benefit from the success of franchise revivals. Fans of the original films will likely bring their grandchildren and great-grandchildren to the latest chapter. The case of “Afterlife,”There was strong participation from parents with young children, and male moviegoers (60%). PostTrak reports that 33% bought tickets Saturday morning before the closing time, which is a strong sign of family presence. But at a time when Netflix, HBO Max and other streaming services are unveiling new films and television shows almost daily, name recognition alone isn’t enough to sell tickets.
“I used to think you had to have the stars from the original,” says Dergarabedian. “I still feel that way, but we’ve seen some reboots attempt that…and it doesn’t guarantee success.”He says that ultimately it all comes down to quality. “It has to be seen as a good movie, and not a money-grab.”
Film critics were positive toward “Ghostbusters: Afterlife,”But audiences were particularly enthusiastic, making it an unforgettable experience. “A-”CinemaScore average and 96% Rotten Tomatoes Jason Reitman (whose father Ivan Reitman was the director of the first two films). “Ghostbusters”film, he stepped back behind the camera to bring back iconic stars Bill Murray, Dan Aykroyd and Ernie Hudson. But notably, he assembled a new generation of spirit hunters — Finn Wolfhard, McKenna Grace, Carrie Coon and Paul Rudd — to take the reins and ideally propel the franchise forward. The latest version of the series is not a reboot, as the 2016 film directed Paul Feig did. It centers on a family from a small town that discovers they are connected to the ghost-catching business.
Variety’sPeter Debruge, chief film critic, says that the younger Reitman is the best choice for the series “a fresh jolt of energy.”Reitman has stated that he would like to see the celestial realm to last in theaters.
“Anyone who grew up watching ‘Ghostbusters’ has always thought of ‘Ghostbusters’ movies they want to see,”Reitman spoke Variety’sMarc Malkin. “There’s something to ‘Ghostbusters: Afterlife’ — it’s a bit of a fans’ film. This is literally the movie I was probably playing in my head as a kid. I want to see more. I want to see ‘Ghostbusters’ films from all of my favorite directors.”
Sony now has to use that momentum to continue innovating and bringing new life to a series that’s comfortably middle-aged.