In the past three months, the North American box office has seen a notable decline, with none of the 25 dramas and comedies released achieving hit status as traditionally defined by Hollywood. Despite substantial marketing efforts and star power, films such as "After the Hunt," featuring Julia Roberts, and "Christy," starring Sydney Sweeney, have struggled to attract audiences, often playing to nearly empty theaters.

Industry expert Kevin Goetz notes that for a film to succeed in today's market, it must possess event status, indicating a shift in audience expectations that may not be reversible. This trend has compounded an already challenging year for Hollywood, with the summer season recording the lowest attendance since 1981, when adjusted for inflation and excluding the pandemic years.

Historically, a film is considered a hit if it earns at least $50 million in ticket sales. However, many recent releases have fallen far short of this benchmark. For instance, "After the Hunt" cost approximately $70 million to produce but garnered only $3.3 million in North America after a month in theaters. Similarly, "Kiss of the Spider Woman" managed only $1.6 million against a $30 million budget.

In contrast, franchise films continue to perform well, with titles like "Predator: Badlands" and various horror and anime films drawing larger audiences. Overall, the box office revenue for October 2023 was recorded at $445 million, the lowest on record when adjusted for inflation, compared to $1 billion in October 2019.

The struggles of dramas and comedies are not new, but the current situation is marked by an unprecedented number of high-profile failures. Major stars, including Margot Robbie, Dwayne Johnson, and Jennifer Lawrence, have all seen their films underperform in recent months. Critics have noted that the situation appears dire, with some suggesting that the traditional model of theatrical releases is becoming increasingly untenable.

The pandemic has altered the landscape significantly, as studios have reduced the exclusive theatrical window from approximately 90 days to as little as 17 days before films are available for digital rental or purchase. This change has diminished the incentive for audiences to attend theaters, particularly for genres that are often more suited to home viewing.

Theaters have attempted to negotiate a return to longer exclusive windows, but these discussions have not yielded results. The industry has seen a range of responses, with some blaming audience preferences for superhero films, while others point to media coverage that can prematurely label films as failures.

Despite the challenges, there is hope that some of these films may find success on streaming platforms, especially if they receive recognition during awards season. However, studios remain committed to theatrical releases to maintain eligibility for prestigious awards like the Academy Awards. Upcoming films, such as Chloe Zhao's "Hamnet," are anticipated as potential successes that could revitalize interest in the genre.