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Overview of the US business for the week of Monday, March 8th

Disney's Raya and the Last Dragon opened this weekend both in theatres and on Disney+ streaming. The animated adventure led all films at the weekend box office, with an estimated $8.6M in ticket sales. Disney+ is offering Raya as a premium rental, with customers paying $29.99 to watch it at home. Warner Bros.' Tom & Jerry chipped in with $6.6M in its second week in theatres, a strong second place finisher. Lionsgate's Chaos Walking also debuted this weekend, taking in $3.8M for third place on the charts.  Taken together, these three features show an increased rate of releases for major studio films.  

We offer two Popcorn Previews Boxoffice Buzz videos, highlighting the weekend's new openers Raya and the Last Dragon and Chaos Walking.

Our weekly summary of Industry News includes several articles with details on theatre re-openings across the country. Alamo Drafthouse announced its plans for restructuring its business, which include a brief stint in Chapter 11 bankruptcy, while its sheds debt obligations and raises funds to help its re-emerge in a strong position once moviegoing rebounds. New York City allowed its theatres to reopen last Friday, welcoming back customers for the first time in 12 months. We also discuss Thursday's launch of the Paramount+ streaming service, joining a long list of streaming services from major entertainment and tech providers.

In their Box Office Outlook, Gower Street reviews promising results from February, a step along the long road to recovery. With $2.3B in ticket sales, February was the largest single month of revenue for exhibition since January 2020, prior to the COVID-19 outbreak. A large percentage of these revenues came from China, whose early recovery from the pandemic has propelled it to become the leading market in the global box office.

In this week's Hollywood Report, Martin Grove discusses prospects for two Netflix films at the upcoming Academy Awards: Mank and Ma Rainey's Black Bottom. While both films have been seen as leading contenders for this year's awards, they did not fare well at the Golden Globes last weekend, with only one win between the two features, with the late Chadwick Bozeman earning Best Actor for his performance in Ma Rainey. Academy voters may look upon these films more favorably.

Our Studio Release Calendar provides details on releases through the end of April. We conclude with a list of the most recent studio release changes, MPAA ratings announcements and notable trailers for upcoming films.

 

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