YouTubers take over the box office with two movies, 'Backrooms' and 'Obsession'

Summary

CNBC's Julia Boorstin reports on how YouTube creators are driving box office success with low-budget films like 'Backrooms' and 'Obsession', drawing young audiences and boosting theater chain stocks. The segment discusses the cultural shift toward authentic content and the potential for continued theater attendance this summer.

• Two YouTube-creator-directed movies dominated the box office: 'Backrooms' (A24) and 'Obsession' (Focus Features).
• 'Backrooms' grossed $81.5 million domestically on a $10 million budget, with 86% of buyers under 35.
• 'Obsession' crossed $105 million in two weeks on a sub-$1 million budget.
• Disney's 'Mandalorian' ticket sales dropped 69% from first to second weekend.
• Cinemark reported an all-time high domestic box office for May; its shares rose nearly 11%.
• AMC shares rose more than 15% during the period; IMAX shares up 2% but 44% over 12 months.
• Industry executives hope that young audiences attracted by these films will return for upcoming releases like 'Scream' and 'Toy Story 5'.
• The trend reflects YouTube's power as a media platform, not a coordinated industry strategy.