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Latin America 2020 box office revenues down 80% YOY as releases pick up

S&P Global Market Intelligence is resuming the publication of its global monthly series on film revenue in different regions. Publication for each featured region is dependent upon sufficient box office data as theaters reopen on different timelines in various parts of the globe following pandemic-related shutdowns in early 2020.

Box office revenue in Latin America fell 79.5% year over year in the first eight months of 2020, data from S&P Global Market Intelligence and OPUSData shows.

August film releases offer a reason to be cautiously optimistic. The month saw eight new films in theaters across the tracked markets of Mexico, Argentina and Brazil — the highest number since March. The number of releases in August fell 87.1% year over year, compared to 97.5% in July, and 100% in May.

In Mexico, August release "Escape From Pretoria" topped the box office year-to-date with $27.8 million. Joining the thriller in the country's top three movies of 2020 so far are two pre-pandemic releases: "Sonic The Hedgehog," based on the video game franchise by Sega Sammy Holdings Inc. and action comedy "Bad Boys For Life."

Mexico box office revenue for the year to end-August was $141.8 million, down 79.2% year over year.

Argentina had the second most film releases in the period at 49, a 77.4% year-over-year decrease. The Walt Disney Co.'s "Frozen II," generated the most box office revenue at $7.6 million, with Argentine comedy thriller film "El robo del siglo" second with $7.1 million and "Jumanji: The Next Level" in third place with $4.4 million. All three films were released in January.

Brazil meanwhile recorded $101.2 million gross box office revenue. "Frozen II" also took the top spot in the country's box office with $30.3 million, "Jumanji: The Next Level" took second place with $12.8 million and "Harry Potter and the Deathly Hallows: Part II" was third with $10.7 million.

Action and adventure remains the top genre in Latin America based on aggregate gross box office revenues.

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