Argentina has become the first market in Latin America to achieve all five stages of Gower Street’s Blueprint To Recovery.
Stage 5 denotes “full recovery” on the Blueprint To Recovery and is measured as a play-week achieving an equivalent level of box office to that of a play-week performing in the top quartile of business for 2018-2019 (the last two pre-pandemic years). Argentina’s target to hit Stage 5 was ARS (Argentinian peso) 149.4 million.
The July 8 play-week easily scored the goal (see Growth Trackers below), grossing a phenomenal ARS 185.5 million according to our partners at Comscore Movies. The week was 32% ahead of the previous week. It was also the biggest play-week recorded in Argentina since February 20, 2020 when BAD BOYS FOR LIFE opened into a market led by SONIC THE HEDGEHOG and local hit THE HEIST OF THE CENTURY (EL ROBO DEL SIGLO).
It should be noted, of course, that Argentina is subject to rapid inflation boosting its box office numbers. Purely in admissions terms it would not achieve the same target.
While the July 8 success was boosted by the opening of BLACK WIDOW the MCU title only scored the third best opening of 2021 so far (behind F9 and GODZILLA VS KONG). This further demonstrates the importance of a robust market with a strong variety of titles for all demographics in achieving full recovery. The top five included F9 (in week 3, down just 32% week-on-week despite the competition from BLACK WIDOW); THE CROODS: A NEW AGE (up 9% in week 2); THE CONJURING: THE DEVIL MADE ME DO IT (off just 11% in week 5); and CRUELLA (down 29% in week 7).
Argentina is only the fifth global market to achieve Stage 5 on its Blueprint To Recovery, following China, Japan, Russia and Taiwan. Argentina was also the first Latin American market to achieve both Stage 3 (in the March 11 play-week) and Stage 4 (in the March 25 play-week).
Recovery levels across 30 global markets, all 50 US states and 12 Canadian provinces can be tracked each week in Gower Street’s Road To Recovery reports. Subscribe here.