The new movie from the Walt Disney Corporation, “Avengers: Infinity War,” generated over $1 billion in global ticket sales since its release, beating out all of the other movies for the second week in a row.
According to reports, the new Avengers film beat “Black Panther” and fell only behind “Star Wars: The Force Awakens,” making it the second biggest weekend in theaters.
The movie is the fastest film ever to cross $1 billion globally and is projected to continue its reign in the upcoming weeks. The movie is supposed to continue beating out competition at least until the release of “Deadpool 2” on the 18th of May.
However, Disney is about to release another movie based on the Star Wars franchise, “Solo: A Star Wars Story,” and will probably take the lead once again. Because of the new “Avengers” film, the total box office revenue has been able to make up for its past slump.
As it was previously reported, Hollywood executives have been increasingly worried about moviegoers because of the advent of streaming technology, including Netflix, YouTube, CraveTV, and Hulu, among others.
Traditional institutions in the business have been fighting against the upcoming media giants like Netflix. For example, Cannes Film Festival and the streaming juggernauts have been at each others’ throats since 2017 after the streaming company refused to play by the company’s rules.
However, Reed Hastings, the CEO of Netflix, admitted they made big mistakes with Cannes last year, and their decisions played a big part in their feud.
As the old Bob Dylan song goes, “the times they are ‘a-Changin’,” and they most certainly are, both technologically, and socially. With the rise of streaming services as well as the #MeToo movement, Hollywood has been in serious trouble. Some have predicted that the comic book movies are part-in-parcel of the last dying breaths of a slowly disappearing industry.