International Box Office 2023: Turnstiles Danced With Growth In Key Markets While The Floor For Big Titles Dropped & China Shrugged; Global Studio Rankings
11.01.2024 - 19:21
/ deadline.com
Globally, including most everywhere overseas, 2023 box office was led by a mix of Barbie, The Super Mario Bros. Movie and Oppenheimer, curious bedfellows who nevertheless proved that cultural phenomena can come in different forms and set turnstiles spinning.
Both the global and international box office saw improvement in 2023 versus 2022 with an estimated $33.9 billion gross worldwide, including $17.1B from overseas markets (excluding China, which we’ll get to below). The good news is that this helped reduce the lag versus the average of the three pre-pandemic years to -15% for both datasets, and there was significant growth in some key offshore markets.
Conversely, we’re looking at a 2024 that’s expected to slide owing to work stoppages amid the dual strikes which sent several studio titles onto the 2025 calendar (note that for overseas local titles, it is difficult to predict as many markets set release dates late). A lack of Hollywood product up ahead means there’s continued concern about audiences losing the habit of going to the movies. As much as that became an issue during the emergence from Covid, the situation remains challenging.
“People are turning up for the blockbuster event movies, but they’re not turning up for your normal run-of-the-mill every week,” says a veteran international studio exec. “The frequency of moviegoing — the habit of moviegoing every week — that’s gone.” This gets exacerbated when there aren’t a lot of event titles which help increase foot traffic. “There is going to have to be recalibration, there’s going to have to be some sort of realism in terms of what films can make around the world now,” the exec suggests.
Not helping the situation in 2023, there was an increasing cold
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