Graziadio School Professor Nelson Granados noted October as the lowest box-office month since 2000 in a recent article for Forbes.
Observers point to an overcrowded market, along with a number of other factors that led to the low numbers.
Among these factors, Granados notes, is a shift in viewership from theaters to the Internet. The ability of audiences to access media cheaply from streaming services is a prime explanation for this plunge in sales. Noting an “avalanche” in the options for streaming media, he writes, “[Viewers have] many reasons to stay home and curl up on the couch”. Netflix has even begun to aggressively compete with box offices, having recently released its first feature film, Beasts of No Nation.
Other factors that Granados notes were a decrease in quality (according to critics) and the fact that Halloween fell on a Saturday night. September 2015 boasted a big month for ticket sales, which could explain why audiences held onto their ticket money the following month.
Granados writes, “This October scare signals that box office revenue is not as predictable as it used to be. In fact, one of the typical dump months –January/February and August/September, when critics and theater executives lower their expectations for new releases – had pretty good ticket sales”.
Whatever the reasons, industry experts are paying attention to this decrease, as the consumption of digital media carries an ever widening impact on the economy.