Over the last six months, there has been a lot of talk about the future of theatrical exhibition (“going to the movies”), with The Discourse treating every film as some lesson on what does or doesn’t work, what’s dead or “so back,” Hollywood’s hubris or the audience’s oversight, and so on. There is no practical way to assess the current state of the North American box office without considering the last century of moviegoing – during which there are perhaps four different acts. The third, which began shortly after the millennia and ran until the COVID-19 pandemic, is the best place to start.