Hollywood bracing for its worst summer at the box office since 2000 as experts predict $1B falloff

This summer’s movie season is poised to generate the lowest grossing box office in decades — with experts predicting a nearly $1 billion falloff from last year’s $4.1 billion haul because of a lack of blockbusters.

The dismal, $3 billion forecast is fueled by last year’s Hollywood labor strikes that halted production, pushing back new film releases. Disney will not release a Marvel movie until July — the first time the superhero franchise won’t hit big screens in May since 2009.

Before the coronavirus pandemic, the summer film season — which runs from the first weekend in May through Labor Day — routinely exceeded the $4 billion mark.

Last year, the success of “Barbie” and “Oppenheimer” helped generate in $4.1 billion during the key period, which typically accounts for 40% of the total annual receipts.

However, the first major film released this May, Universal’s “The Fall Guy,” had an underwhelming opening weekend. The action film, starring Ryan Gosling and Emily Blunt, brought in a paltry $28 million.

The weak opening does not bode well for other non-Marvel films slated to premiere in the coming weeks, experts said.