Hollywood Hits a 27-Year Low — Indie Filmmakers, This Is Your Moment

Hollywood just had its worst October since 1997.

The month brought in only $425 million across all releases, the lowest haul in 27 years (if you don't count the pandemic-beleagured 2020).

When you adjust the 1997 number for inflation, we're looking at losses that are even more stunning. This marks the second-worst October of the entire 21st century.

Big oof.

Disney's Tron: Ares led the pack of disappointments, managing to bring in just $68 million domestically despite its massive budget. The film is projected to lose Disney approximately $132.7 million when all revenue streams are accounted for, with a production budget that actually came in at $220 million (not the initially reported $170-180 million, per Deadline).

Beyond Tron, the month was populated with unfortunate underperformers. Awards hopefuls like The Smashing Machine and Springsteen: Deliver Me From Nowhere failed to connect with audiences, while even moderately successful entries like Black Phone 2 couldn't make up for industry-wide losses.

Industry analysts noted that apart from horror sequel Black Phone 2, there simply weren't enough genre films to draw audiences during what should be a lucrative Halloween season.

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Understanding the Failures

The Tron: Ares flop may not have been a surprise to film fans, but it's still not great for the industry. And its failures are closely tied, many believe, to a reliance on tired IP and uncreative storytelling.

One insider told Deadline, "There was no specific vision, to be honest. The idea that Disney would spend a quarter of a billion dollars on a Jared Leto film that is a franchise that hasn't worked in four decades is insane."

Meanwhile, as mentioned, the horror genre was woefully underserved this year.

Halloween came and went without the steady stream of horror films we love. Maybe it was because the earlier months this year were front-loaded with hits like Weapons and Sinners. Still, to have essentially no traditional horror films in theaters right now (we're not counting Bugonia, as great as it is) is odd.

Seizing the Moment

If there's any good to be taken from this, maybe it's that this industry downturn could create opportunities for independent filmmakers willing to think differently. When the major players are faltering, there might be room for original voices to break through as audiences seek entertainment elsewhere.

If you have an original film and would like to take advantage of this slump, here are a few tips to connect directly with viewers who want fresh storytelling.

Use social media to your advantage. Create authentic connections rather than treating platforms just as digital billboards. Share your process, your struggles, your behind-the-scenes moments. Let people become invested in your journey.

Grassroots marketing strategies can be effective even for films with tiny budgets. The key is consistency and authenticity.

Consider how successful indie filmmakers have used community support. The makers of COSMOS, a $7,000 sci-fi feature, built a strong social media following before pitching to distributors, using their engaged audience as proof of the film's marketplace potential. They created a trailer, poster, and marketing materials that demonstrated their film could find an audience before distribution.

More recently, Shelby Oaks secured funding via a Kickstarter. Filmmaker Chris Stuckmann's connections to Mike Flanagan (and his popularity as a YouTube critic) eventually landed him a deal with NEON.

Obviously, collaboration is still important. Connect with other independent creators who are on similar journeys. Film festivals are networking opportunities where you can find collaborators, mentors, and supporters, as well as places to watch new projects. The indie filmmaking community is scrappy and supportive by nature. Tap into that energy.

Let us know how you plan to take advantage.