c/Movies

Even with G.I. Joe’s firepower, the recent “Transformers” movie grossed a mediocre $427 million. “We feel it’s not great, but good” is Robbins’ spin. But the film’s struggles, he says, show the perils of a fading global box office. Russia, once the sixth-biggest market for films, has been closed off following its invasion of Ukraine. More consequential, China, which rivals the United States in ticket sales, has become an unreliable source of revenue for Hollywood films. That’s largely due to rising geopolitical tensions with the U.S. In the case of “Rise of the Beasts,” the film grossed $90 million from China, half of what Paramount anticipated.

“China is a different marketplace,” says Weinstock. “You can’t count on it for a big number anymore, so everyone needs to reevaluate their budgets.”

Most summer movies carry staggering price tags. During COVID, many of these productions saw costs escalate by tens of millions of dollars. And though pandemic shutdowns have eased, inflation makes it hard to economize. How, I wonder, will Robbins and his team make cheaper movies?

“It’s no one’s fault,” says Robbins. “COVID and inflation took the $100 million movies and made them cost $200 million. But movie tickets didn’t go from $12 to $24. We have to ask: How do we build movies? What’s necessary? We need to make smart choices. You can’t have everything, but you need that foundation to be strong.”