As Hollywood wraps up the all-important summer box office season this Labor Day weekend, a sobering reality has gripped the industry. That’s an even worse decline than the 10% drop some studio executives predicted before the summer began. Studio executives, movie theater operators and analysts cited the usual explanations for the summer slump. Then there are long-term challenges, including competition from streaming services such as Netflix and the influence of the movie review site Rotten Tomatoes. August was unusually bereft of big studio films, with the exception of New Line’s “Conjuring” spinoff “Annabelle: Creation,” clocking in at $79 million so far.

Source: Los Angeles Times August 30, 2017 21:08 UTC