The "Spielberg-Lucas 'Blockbuster Implosion'" is happening (?)

[Mach5]

Report: Movie Box Office On Track for Lowest in 25 Years as Spielberg-Lucas “Blockbuster Implosion” Omen Prevails

Four years ago, at a USC symposium, famed and very successful directors George Lucas and Steven Spielberg warned the film industry that reliance on blockbusters– tent pole movies that failed would cause an implosion. At first no one took them seriously. But now maybe we’re seeing what they meant.

Spielberg said at the time: “That’s the big danger, and there’s eventually going to be an implosion — or a big meltdown. There’s going to be an implosion where three or four or maybe even a half-dozen mega budget movies are going to go crashing into the ground, and that’s going to change the paradigm.

Reports now, according to Exhibitor Relations: if things continue as they have, this will be the lowest box office in a quarter century. While there have been bright spots (“Dunkirk”) and surprises (“Baby Driver”) the failures have outweighed everything.

Start with a total write off on “King Arthur” and go from there. Then go to “The Dark Tower.”

 

[Jedi_Master]

I'm not sure I agree with this interpretation of the data.
If you look at the charts below you see similar patterns in the top ten.... tentpoles, family oriented tentpoles, and the occasional surprise.
2017 has only had two billion plus grossing films, and has been down overall, but Star Wars hasn't come out yet.
I think the notion that "special effects blockbusters" are imploding is not true, I think the idea that fans expect more than just pure spectacle it becoming more apparent. It is also more apparent that appealing to the international market's sensibilities, and appealing to a wide variety of underserved demographics are now critical to a large-budget film's success.
http://www.boxofficemojo.com/yearly/chart/?view2=worldwide&yr=2017
http://www.boxofficemojo.com/yearly/chart/?view2=worldwide&yr=2016
http://www.boxofficemojo.com/yearly/chart/?view2=worldwide&yr=2015