Historically, the “dog days” of summer start in early July and go into mid-August. I was always taught that they’re called that because it’s the period when Sirius, known as “the dog star” for some reason, is visible during the early morning rather than the evening. That’s the classical explanation, although most folks would also say it’s the time of the year that it’s so hot you pant like a dog.
For streamers, there’s a third definition. It’s the time of year that goes by dog-slow because there’s nothing to stream. That’s certainly been true this summer. Major studios looked at the summer of ’23 as their opportunity to pivot back to theaters. I don’t blame them, as supposedly that’s where the money comes from. (I say supposedly because I’m convinced it’s all accounting trickery, but that’s a story for another article.)
How’s that workin’ out for ya?
So far, that pivot to theaters hasn’t really worked 100%. The season started with the twin bombs of The Flash and Indiana Jones and the Dial of Destiny. Both films did passably well in theaters but were so expensive that they failed to make dime one. The season continued with a string of mostly forgettable films. The rare bright spot seems to have been the unlikely pairing of Barbie and Oppenheimer. Without those two, I’m sure the summer season would have been a total loss for studios.
In the meantime, it’s been a savage year for streaming services. Most of the top streamers have cut their libraries and slashed budgets, all the while raising prices. At the same time, giving movies a good two months in theaters, plus the normal 45-day gap between a movie leaving theaters and it going to streaming, has meant there haven’t been a lot of big Hollywood releases either.
Just like you, I enjoyed being able to see a lot more films at home during lockdown. It may not have been a great way for those companies to make money, but it sure was enjoyable for me. I’m not one to easily part with $50 for two movie tickets and some oversalted popcorn, so seeing more major releases at home really worked for me. I have to believe I’m not the only one.
Is it finally looking up?
When I look at several sites that show streaming premieres, I’m still not seeing a lot of “tentpole” movies or series for the rest of the month into Labor Day. It seems like it’s been a really long time since a really high-profile movie came to streaming that I wanted to watch.
That could mean the fall and winter look really good for streaming, but who knows? It’s possible that studios could hold onto releases longer without sending them to streaming very easily. That would be one way to ease the pain that’s coming from the actors’ and writers’ strikes. If that’s the case, it’s going to be a very, very quiet time for streaming and I expect some really serious drops in revenue over at the main streaming apps.
and no, that’s not going to drive me to the theater
I still like watching things in my own living room. Aside from being cheaper, it’s also better. I can pause and rewind the action, and I have a better selection of snacks. Frankly the seating is better too. So this dry spell in the world of streaming isn’t going to change my behavior and drive me back to the theaters where they can take my money faster than I can earn it.
