By Andrés Muñoz
I’ve been in love with what people call the film industry for my whole life. I’ve seen the comings and goings of Hollywood’s big movies. Ever since I was a teenager, the world of cinema has drawn me in very intensely. The big screen and all its magic captivated me.
Globalisation has allowed large movie studios to tell fascinating and original stories. That being said… Why are all the top 10 highest-grossing films of 2024 sequels or remakes? And why are 14 out of the top 20 a sequel or a remake?
Let’s review the concepts of nostalgia addiction and movie remakes and how they shape the film industry.
The Studio’s Perspective
While doing a Master’s Degree in Entertainment Industry Management in the United States, I worked at film financing companies, international sales agencies, and movie theatre companies. My experiences in the City of Angels were fascinating. They gave me an inside view of how and why these spectacular (albeit repetitive at times) films were made.
The American screen-based film industry—I refer to the behemoth of the group of studios based in Hollywood—has always been a risk-averse business. This means you hedge your bets (read films) with proven commodities, just like with any sound financial decision-making process.
A big movie studio will not invest its billion-dollar budget into 100 indie slice-of-life films, as they surely won’t return an investment. Instead, they release what is known as a “tentpole” film. This movie is usually a big-budget blockbuster that will appeal to the classic four quadrants: Men, women, audiences over 25, and audiences under 25.
From a financial perspective, this film keeps the tent standing and allows the studio to finance smaller products. Because, unlike independent filmmakers, that’s what movies are in this industry. Expertly crafted, audience-inspiring, audiovisual products.
Whether it is a smaller production company or a major studio, these companies must keep putting products in the pipeline to keep the business running. And how do they keep the pipeline fed?
Intellectual Property: The Rehashing And Retelling Of Tales
With several movie studios being over 100 years old, they have legal rights to a vast repository of Intellectual Property (IP). This has led to a proliferation of sequels, remakes, and reboots, often driven by a heavy dose of nostalgia and fan service. While familiar offerings provide comfort and entertainment, the repetitive use of IP cuts creativity and innovation.
The “nostalgia pipeline” has become a lucrative strategy for studios. They can generate major box office returns by tapping into audiences’ core memories. Take a look at the Star Wars sequel trilogy, for instance. Just like 16 years prior with The Phantom Menace in 1999, the release of Star Wars: The Force Awakens in 2014 was a gargantuan moment.
I remember attending opening night with my buddies in Los Angeles and experiencing the city’s unending love for cinema. The film was a hit with audiences due to nostalgic elements that resembled the 1977 film Star Wars: A New Hope. The sequel trilogy was a financial hit, reaping USD 4.474 billion. When push comes to shove, this IS the IP that, along with 1975’s Jaws, began what is known as the modern blockbuster.
Nostalgia And Fatigue
The problem with relying solely on nostalgia is that, eventually, it’s fleeting. While fans may initially be excited to revisit beloved franchises, the novelty wears off. Audiences are increasingly demanding original stories that challenge their expectations. This is where the role of original content becomes crucial.
The Marvel Cinematic Universe (MCU) is another example of the nostalgia pipeline in action, but more importantly, it brought the concept of “superhero fatigue” into being. While many of its films were groundbreaking up to the climactic Avengers: Endgame, the franchise has plateaued and relied on rigid storytelling and poor CGI-filled scenes.
The recent Eternals and Thor: Love and Thunder met mixed reviews, suggesting audiences are fatigued by the MCU’s endless stream of superhero flicks.
Originality And Finding A Balance
Original films offer a breath of fresh air in an often predictable industry. They let filmmakers explore new concepts, characters, and worlds. From Parasite to Everything Everywhere All at Once, original films prove audiences are hungry for innovative storytelling.
However, it’s essential to acknowledge that the nostalgia pipeline is not inherently bad. When done well, sequels and remakes offer enjoyable experiences. They should complement original content, not as a substitute, as Disney is starting to notice with their hit TV series The Mandalorian and Andor.
All in all, studios need to strike a balance between nostalgia and originality. They should keep investing in tentpole films that finance other projects but should also prioritise original storytelling. By cutting down on movie remakes, the industry avoids creative stagnation and drives us away from nostalgia addiction.
Where do you stand? Are you a film studio fanatic or an indie film enthusiast? Share your thoughts and ideas in the comments below!