Global Box Office Reaches $33.9B In 2023, Up 31% On 2022 – Analysts
04.01.2024 - 09:31
/ deadline.com
Global box office is estimated to have reached $33.9B for 2023, a 30.5% gain on 2022, according to Gower Street Analytics. While this represents continuing worldwide recovery, the figure remains 15% behind the average of the last three pre-pandemic years (2017-2019). Gower Street also recently estimated that, due in part to this year’s strike-impacted release calendar, 2024 is projected to drop to $31.5 billion, which, given today’s revised estimate for last year, would come in at 7% below 2023.
North America remained the top global market in 2023 with an estimated $9.07B, up 21% year-on-year, but still 21% behind the 2017-2019 average. It accounted for 26.8% of the worldwide result, down from 28.9% in 2022.
Excluding China, the international box office is estimated at $17.1B in 2023, a similar 20% gain on 2022 but tracking slightly better against the 2017-2019 average (-15%), per Gower Street.
China, according to figures from the local Film Administration, did RMB 54.91B (about $7.7B). This reps an 83% increase over 2022 and is just 6% behind the 2017-2019 average. Notably, box office in China was dominated by local titles in 2023. Despite a steady flow of Hollywood product, the market has turned increasingly inwards with only a handful of studio movies doing significant business including Fast X, Meg 2: The Trench (a China co-production), Transformers: Rise of the Beasts, Guardians of the Galaxy Vol 3 and Oppenheimer.
Overseas, the three key regions all made year-on-year gains. Per Gower’s report, EMEA delivered just shy of $9B, a 25% gain on 2022, but 15% behind the 2017-2019 average. The EMEA region accounted for 26.5% of global box office, a slight dip from 27.7% in 2022. Asia Pacific (excluding China) is