Global Box Office Hits $26B In 2022, Grows 27% Versus 2021 – Analysts

Universal/DreamWorks Animation’s Puss In Boots: The Last Wish is a bonafide puss in loot, as it will cross the $300M mark globally with today’s grosses included. 

Over the past month, the conversation around “Avatar: The Way of Water” has shifted from, “Will it make money?” to “How much money will it make?” James Cameron‘s much-anticipated — or much-derided, depending on where you sit in the contemporary culture wars — was always expected to make money, but everyone has been shocked at its impact at the global box office. Once it became clear that the movie was going to outperform even its most ambitious expectations, the only question became whether this movie could possibly topple the original “Avatar.” And while that remains an open question, in at least one regard, Cameron’s sequel has already proven itself ahead of the pace.

Refresh for latest…: It’s now official, James Cameron’s Avatar: The Way of Water has become the sixth movie ever to cross the $2B mark worldwide. It is also the filmmaker’s third to hit the milestone, alongside Titanic and the original Avatar.

Over the past month, the conversation around “Avatar: The Way of Water” has shifted from, “Will it make money?” to “How much money will it make?” James Cameron‘s much-anticipated — or much-derided, depending on where you sit in the contemporary culture wars — was always expected to make money, but everyone has been shocked at its impact at the global box office. Once it became clear that the movie was going to outperform even its most ambitious expectations, the only question became whether this movie could possibly topple the original “Avatar.” And while that remains an open question, in at least one regard, Cameron’s sequel has already proven itself ahead of the pace.

Prince Edward To Present New Production Guild of Great Britain Talent PrizePrince Edward, who is the royal Patron of the Production Guild of Great Britain (PGGB), will present the body’s new film and TV industry award that has been created in his name as part of its inaugural Talent Showcase, presented in association with Disney Studios Content and supported by Entertainment Partners. Four industry organizations have been shortlisted for The Earl of Wessex Award, created to recognise professionals working in the UK film and TV industry who have created “a successful way of inspiring local talent or skills, widening access or being more inclusive.”  The nominees are youth-led production company Fully Focused; media charity MAMA Youth Project; social change enablers Resource Productions and mental health and wellbeing nonprofit 6ft From the Spotlight. He will present the prize at the first PGGB Talent Showcase on January 24. The Earl of Wessex recently visited the MAMA Youth Project. He said after his visit: “Congratulations to all the organisations who have been nominated for this new Award. The finalists are shining examples of how the production industry is attracting more people from different backgrounds to pursue careers in the business.”

Refresh for latest…: James Cameron’s Avatar: The Way of Water continues to outdo itself having crossed $1.8B globally and reaching nearly $1.9B at the worldwide box office through this weekend.

Good afternoon Insiders, Max Goldbart here relaying a hugely busy week in the world of film and TV as the post-Christmas blues are very much washed away. Read on.

It is a blockbuster morning as far as the Producers Guild of America is concerned as it revealed film and TV nominations Thursday for its 34th annual PGA Awards.

Japanese studio Toei announced today that its total box office revenue reached a record Yen32.56BN (US$246.6M) for the calendar year 2022, partly thanks to the strong performances of anime blockbusters One Piece Film Red and The First Slam Dunk. 

A flying ace, rampaging dinosaurs, Marvel, DC, Minions and battling blue aliens on a distant planet were among the highlights of 2022 for the Hollywood studios at the global and international box office. Still, it was yet another year of transition, with worldwide grosses reaching an estimated $26B — a 27% increase on 2021 but 35% off the pre-pandemic three-year average, according to Gower Street Analytics. The upward trajectory also occurred overseas as some markets came back strongly, while others struggled and exchange rates went wild.

Reading the tea leaves with regard to China in 2023 is even more difficult than usual. The country’s about-face on its longstanding zero-Covid policy has implications from geopolitics to economics and, closer to home for Hollywood, the state of the market after a dismal 2022. Exactly what those implications are is where the guesswork comes in.

Refresh for latest…: That was fast. Coming out of its fourth weekend of release, James Cameron’s Avatar: The Way of Water has topped $1.7B globally and become the No. 7 biggest movie of all time worldwide.

James Cameron’s Avatar: The Way of Water has now officially, and as projected, crossed the $1 billion mark at the international box office with Tuesday’s grosses included. What’s more for this 20th Century Studios/Disney juggernaut, at $1,482.5M worldwide through Tuesday, the epic sci-fi sequel is next on its way to yet another milestone and will top $1.5B global when today’s numbers are factored. In doing so, it will become the No. 1 worldwide release of 2022, surpassing Top Gun: Maverick’s $1.489B.

Hong Kong’s box office managed to stage a partial recovery in the second half of 2022, despite cinemas being closed for nearly four months earlier in the year, due to US titles including Top Gun: Maverick and Avatar: The Way Of Water and a strong line-up of local movies.

No surprise here: Walt Disney is the No. 1 studio at the box office, not just worldwide with $4.9 billion, but also domestic with $2 billion and overseas with $2.9 billion. This comes after an initial New Year’s weekend which saw Avatar: The Way of Water overperforming, that pic contributing close to $1 billion abroad. It’s the 7th consecutive year that Disney ahs been No. 1 at the global box office, from 2016-2022.

French cinemas amassed nearly 152 million admissions in 2022, new data from the National Cinema Center (CNC) shows. That’s an estimated 26.9% off the pre-pandemic three-year average (2017-2019), and an estimated 59.2% hike on 2021 which endured 138 days of movie theater closures. France reports its box office in terms of admissions, however, the total for the year is expected to exceed $1 billion.

China’s box office in 2022 dropped 36% versus 2021, reaching approximately RMB 30B ($4.35B). According to China.org, citing figures from the China Film Administration, 85% of the 2022 revenue was generated by local movies, led by The Battle at Lake Changjin II with RMB 4.07B ($636M at historical rates, per comScore). This past weekend, James Cameron’s Avatar: The Way of Water became the highest-grossing studio import of the year, overtaking Jurassic World Dominion with an estimated $152.8M through Sunday.

Refresh for latest…: James Cameron’s Avatar: The Way of Water rang in the New Year with another $186.7M from 52 international markets for a $1.379B global cume to date. Excluding China, the film rose 4% from last weekend’s Christmas frame offshore (including China it was even with last session). The international box office now stands at an estimated $957M, meaning Way of Water will cross $1B overseas early this week. 

The motion picture industry remains in a state of rehabilitation.