'Godzilla vs Kong' Fills Theater Seats, but Hollywood Still Has Reason to Worry

Sam Blake

Sam primarily covers entertainment and media for dot.LA. Previously he was Marjorie Deane Fellow at The Economist, where he wrote for the business and finance sections of the print edition. He has also worked at the XPRIZE Foundation, U.S. Government Accountability Office, KCRW, and MLB Advanced Media (now Disney Streaming Services). He holds an MBA from UCLA Anderson, an MPP from UCLA Luskin and a BA in History from University of Michigan. Email him at samblake@dot.LA and find him on Twitter @hisamblake

'Godzilla vs Kong' Fills Theater Seats, but Hollywood Still Has Reason to Worry

The movie business is breathing a provisional sigh of relief today after weekend box office numbers show "Godzilla vs. Kong" broke several pandemic-era records. But Hollywood still has reason to worry.

In its debut domestic weekend, the Warner Bros. film played on over 3,000 screens and raked in $32.2 million, both highs since lockdowns began. None of these figures would represent big wins in normal times, though this is hardly normal.

Pre-pandemic average opening weekend of 2019's top four box-office hits was about $200 million. And for the first time, Warner Bros., Disney and other studios have simultaneously released what would normally be theatrical tentpoles on their streaming services.

"It's clear that wherever audiences are ready to safely return to the theater, they have, and we're thrilled with the results," Jeff Goldstein, who heads domestic distribution at Warner Bros. Pictures, said in a release announcing the numbers.

The new data suggest Hollywood, which had an abysmal box-office year with theaters across the country shuttered, is headed in the right direction – even if the cinema business is in decline. And with only 55% of theaters operating in North America according to Comscore, and most of them at limited capacity, there is still plenty of room for recovery.

The box office figures represent about a 50% increase in screen count and 278% jump in revenue from Disney's "Raya and the Last Dragon," the most recent big-name film to debut in the U.S., in early March.

The film also set pandemic-era records for largest opening day since lockdowns began ($9.6 million, on Wednesday last week) and largest single day ($12.5 million, on Saturday). Overall, it has earned $48.5 million since its mid-week release. Including international, where it has been showing for about two weeks, it's brought in over $285 million.

For further comparison to the film's $32.2 million weekend, the pandemic-era debut of "Wonder Woman 1984" took in about $16.7 million domestically over Christmas weekend, while "Tenet" earned $20.2 million over its opening weekend in September.

Like "Wonder Woman" and "Raya," "Godzilla vs. Kong" viewers had the option to watch the new film on a streaming platform. "Raya" was sold for $30 on Disney Plus, while the other two were available on HBO Max for no extra fee. The extent to which this impacted their box office performance is unclear.

Given the relative success of "Godzilla vs. Kong," though, there may be some cause for optimism that the magic of the silver screen still has its charms–perhaps especially so for spectacles like superheroes, explosions and nuclear lizards fighting giant monkeys.

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Greater Good Health Raises $10 Million To Fix America’s Doctor Shortage

Keerthi Vedantam

Keerthi Vedantam is a bioscience reporter at dot.LA. She cut her teeth covering everything from cloud computing to 5G in San Francisco and Seattle. Before she covered tech, Keerthi reported on tribal lands and congressional policy in Washington, D.C. Connect with her on Twitter, Clubhouse (@keerthivedantam) or Signal at 408-470-0776.

Greater Good Health Raises $10 Million To Fix America’s Doctor Shortage
Courtesy of Greater Good Health

The pandemic highlighted what’s been a growing trend for years: Medical students are prioritizing high-paying specialty fields over primary care, leading to a shortage of primary care doctors who take care of a patient’s day-to-day health concerns. These physicians are a cornerstone of preventative health care, which when addressed can lower health care costs for patients, insurers and the government. But there’s a massive shortage of doctors all over the country, and the pipeline for primary care physicians is even weaker.

One local startup is offering a possible answer to this supply squeeze: nurse practitioners.

On Wednesday, Manhattan Beach-based Greater Good Health unveiled $10 million in new funding led by LRVHealth, adding to $3 million in seed funding raised by the startup last year. The company employs nurse practitioners and pairs them with doctor’s offices and medical clinics; this allows nurse practitioners to take on patients who would otherwise have to wait weeks, or even months, to see a doctor.

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Plus Capital Partner Amanda Groves on Celebrity Equity Investments

Minnie Ingersoll
Minnie Ingersoll is a partner at TenOneTen and host of the LA Venture podcast. Prior to TenOneTen, Minnie was the COO and co-founder of $100M+ Shift.com, an online marketplace for used cars. Minnie started her career as an early product manager at Google. Minnie studied Computer Science at Stanford and has an MBA from HBS. She recently moved back to L.A. after 20+ years in the Bay Area and is excited to be a part of the growing tech ecosystem of Southern California. In her space time, Minnie surfs baby waves and raises baby people.
PLUS Capital​’s Amanda Groves.
Courtesy of Amanda Groves.

On this episode of the L.A. Venture podcast, Amanda Groves talks about how PLUS Capital advises celebrity investors and why more high-profile individuals are choosing to invest instead of endorse.

As a partner at PLUS, Groves works with over 70 artists and athletes, helping to guide their investment strategies. PLUS advises their talent roster to combine their financial capital with their social capital and focus on five investment areas: the future of work, future of education, health and wellness, the conscious consumer and sustainability.

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