Published on 3 Jan 2023 on MarketWatch
Analyst firm B. Riley Securities has lowered its box-office estimates for the media and entertainment industry, citing the effects of delayed movie releases.
B. Riley lowered its 2023 and 2024 industry box-office estimates from $9.5 billion and $10.7 billion to $8.9 billion and $10.1 billion, respectively. “While studios are increasingly endorsing the theatrical window, postproduction backlogs are delaying releases,” B. Riley Securities analyst Eric Wold wrote in a note released Tuesday.