Insight of the Day: Is Hollywood’s Addiction to Sequels Cannibalizing Its Future?

Detailed Findings:

1. Dominance of Sequels:

   • All of 2024’s top 10 grossing movies are sequels, including Inside Out 2 and Kingdom of the Planet of the Apes. 15 of the top 20 grossing movies this year are also sequels.

   • Sequels, prequels, and adaptations of known stories dominate the box office, often outperforming original films like Anora and Conclave.

2. Commercial Success vs. Creative Risk:

   • While sequels like Deadpool & Wolverine and Dune: Part 2 have been well-received, others like Furiosa: A Mad Max Saga and Joker: Folie à Deux struggled due to their predecessors’ unmatched originality.

   • Sequels are seen as both a necessary financial lifeline for the industry and a potential creative bottleneck.

3. Long-Term Sustainability Issues:

   • Over-reliance on past successes risks diminishing the pool of new stories to draw from. This threatens the industry’s ability to innovate and produce future hits.

Trend Reflected in the Article:

• The Sequelization of Hollywood:

  • The trend of heavily relying on sequels, prequels, and reboots reflects Hollywood’s focus on banking on established franchises for predictable box office returns.

  • Sequels are no longer just cash grabs but part of ambitious franchise ecosystems aiming to recreate the magic of their predecessors.

Consumer Motivation:

1. Nostalgia and Familiarity:

   • Audiences are drawn to the comfort of familiar characters, stories, and worlds, especially in uncertain times.

2. Expectation of Quality:

   • Modern sequels often deliver higher production values, advanced storytelling, and improved special effects, meeting audience expectations.

3. Cultural Continuity:

   • Fans seek extensions of beloved universes, driving their willingness to revisit long-standing franchises.

Big Social Drive Reflected by the Trend:

• Desire for Predictability and Comfort:

  • In an era of rapid change and uncertainty, audiences gravitate toward predictable and reliable entertainment experiences, such as familiar franchises.

• Franchise Loyalty:

  • The cultural attachment to well-known characters and stories fosters a cycle where audiences demand sequels, encouraging studios to keep revisiting established properties.

Big Social Trend:

• Creative Stagnation vs. Franchise Expansion:

  • Hollywood is caught in a tension between innovation and nostalgia, reflecting a broader societal trend of balancing progress with the comfort of revisiting the past. This manifests in the entertainment industry as a push toward maintaining franchise ecosystems at the potential cost of new creative ventures.

Strategy to Follow by Brands:

1. Balance Sequels with Originality:

   • While sequels ensure financial stability, studios must allocate resources to original films to foster creativity and build future franchises.

2. Evolve Existing Franchises:

   • Introduce fresh perspectives, diverse storytelling, and innovative formats within established franchises to keep them engaging and relevant.

3. Leverage Nostalgia Wisely:

   • Harness nostalgia to draw audiences while incorporating modern themes and narratives to appeal to younger viewers.

4. Invest in Emerging Talent:

   • Support new filmmakers and writers to diversify storytelling and create the next generation of blockbuster franchises.

5. Global and Diverse Stories:

   • Explore non-Western narratives and culturally rich content to appeal to a global audience, tapping into underserved markets and stories.

By striking a balance between leveraging the success of established franchises and investing in innovative storytelling, Hollywood can ensure both short-term profitability and long-term sustainability.

Source: https://variety.com/2024/film/columns/is-hollywoods-addiction-to-sequels-cannibalizing-its-future-inside-out-2-moana-2-1236231263/