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Is the box office back? The latest data suggests signs of life for the big screen

Is the box office back? The latest data suggests signs of life for the big screen

Signs of life

During the peak of COVID-19, the US box office didn't just slow down — it completely disappeared. So it's somewhat comforting to see that on May 28th A Quiet Place Part II, the sequel to the successful horror film from 2018, managed to rack up almost $20m on its opening day, and more than $57m over the course of the entire Memorial Day Weekend.

Thanks to data from Box Office Mojo we've charted the biggest film at the box office on every day since the start of 2020. A Quiet Place Part II has had the biggest day (and weekend) of any film since the start of the pandemic, ahead of Godzilla vs. Kong, which managed just shy of $13m on its biggest day and way ahead of Tenet ($5m biggest day) and Wonder Woman 1984 ($7.5m biggest day).

To stream, or not to stream

For the movie industry, the success of A Quiet Place Part II will give confidence that the cinemagoing public are keen to get back in front of the big screen. However, it also raises the question — particularly for box office giant Disney — about how best to release movies in a post-pandemic world.

Cruella, which is Disney's modern reimagining of Cruella de Vil from 101 Dalmatians also released last weekend, managing a respectable $26.5m over the 4 days. Interestingly, Cruella was simultaneously released on Disney+ where viewers could pay a $30 fee to watch from the comfort of their own home. So far it's not obvious what the right balance is between straight-to-streaming, straight-to-box-office or some combination of the two.

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Netflix is staffing up an apparent AI animation studio called INKubator

According to several public job listings, streaming giant Netflix appears to be building a GenAI animation studio called INKubator.

First reported by journalist Janko Roettgers in the Lowpass newsletter, INKubator seems to have launched in March and aims to “develop feature-quality content in a creator-led environment.”

As Lowpass reports, INKubator appears focused on AI-generated short-form animation, but listings imply ambitions toward longer-form content. Netflix didn’t immediately respond to a request for comment.

INKubator wouldn’t be Netflix’s first foray into AI. Back in March, it acquired Ben Affleck’s AI filmmaking startup InterPositive — which trains on individual films’ already-shot footage — for as much as $600 million depending on certain targets.

Netflix’s potential future AI-generated animations could be served to an increasingly ad-packed streaming service. At Netflix’s Upfront presentation on Wednesday, the company said its ad-supported tier has now reached 250 million subscribers globally, up 31% from November.

As Lowpass reports, INKubator appears focused on AI-generated short-form animation, but listings imply ambitions toward longer-form content. Netflix didn’t immediately respond to a request for comment.

INKubator wouldn’t be Netflix’s first foray into AI. Back in March, it acquired Ben Affleck’s AI filmmaking startup InterPositive — which trains on individual films’ already-shot footage — for as much as $600 million depending on certain targets.

Netflix’s potential future AI-generated animations could be served to an increasingly ad-packed streaming service. At Netflix’s Upfront presentation on Wednesday, the company said its ad-supported tier has now reached 250 million subscribers globally, up 31% from November.

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