Gower Street Analytics has come up with an early estimate for 2024 global box office, projecting a roughly 5% downturn versus 2023 to $31.5B (Gower currently is pegging 2023 at $33.4B). This marks the first post-pandemic decrease in the London-based firm’s annual forecast. Should the figure hold, it would put the year -20% against the average of the last three pre-pandemic years (2017-2019).
The shift is largely owing to work stoppages amid the Hollywood writers’ and actors’ strikes which pushed some product out of next year, rather than theatrical ill health. Said Gower Street CEO Dimitrios Mitsinikos, “Given that we lost 50% of production time in 2023, the anticipated 5% year-on-year decrease in 2023 is not indicative of a declining interest in cinema, but simply a direct consequence of limited product availability. In fact, as July 2023 marked a record-breaking month at the global box office, we know that there is a robust audience demand for compelling theatrical releases.
The shift is largely owing to work stoppages amid the Hollywood writers’ and actors’ strikes which pushed some product out of next year, rather than theatrical ill health. Said Gower Street CEO Dimitrios Mitsinikos, “Given that we lost 50% of production time in 2023, the anticipated 5% year-on-year decrease in 2023 is not indicative of a declining interest in cinema, but simply a direct consequence of limited product availability. In fact, as July 2023 marked a record-breaking month at the global box office, we know that there is a robust audience demand for compelling theatrical releases.
- 12/19/2023
- by Nancy Tartaglione
- Deadline Film + TV
Next year could mark the first time in the post-pandemic era that global box office revenue suffers a year-over-year downturn.
According to leading analytics firm Gower Street, worldwide movie ticket sales are projected to hit an estimated $31.5 billion, a five percent dip from an estimated $33.4 billion in 2023, according to the London-based firm’s annual forecast. That compares to $25.9 billion in 2022 and $21.3 billion in 2021, or — before Covid-19 arrived — $42.3 billion in 2019.
Gower Street’s report, issued on Tuesday, should come as no surprise to the global film industry. Hollywood’s historic labor strikes resulted in a slew of movies being delayed from 2024 to 2025 in what some say could result in a loss of as much as $2 billion to the overall tally.
“The impact of the recent writers’ and actors’ strikes on the release calendar, in terms of global-appeal Hollywood product, has been significant,” said Rob Mitchell, Gower Street’s director of theatrical insights.
According to leading analytics firm Gower Street, worldwide movie ticket sales are projected to hit an estimated $31.5 billion, a five percent dip from an estimated $33.4 billion in 2023, according to the London-based firm’s annual forecast. That compares to $25.9 billion in 2022 and $21.3 billion in 2021, or — before Covid-19 arrived — $42.3 billion in 2019.
Gower Street’s report, issued on Tuesday, should come as no surprise to the global film industry. Hollywood’s historic labor strikes resulted in a slew of movies being delayed from 2024 to 2025 in what some say could result in a loss of as much as $2 billion to the overall tally.
“The impact of the recent writers’ and actors’ strikes on the release calendar, in terms of global-appeal Hollywood product, has been significant,” said Rob Mitchell, Gower Street’s director of theatrical insights.
- 12/19/2023
- by Pamela McClintock
- The Hollywood Reporter - Movie News
Gower Street Analytics predicts the first annual downturn since the pandemic.
Global cinema box office takings will drop 5% in 2024 compared to 2023, according to analytics firm Gower Street Analytics, due to lack of product.
The data firm predicts a $31.5bn global box office for the year, down from the estimated $33.4bn for 2023.
“Given that we lost 50% of production time in 2023, the anticipated 5% year-on-year decrease in 2023 is not indicative of a declining interest in cinema, but simply a direct consequence of limited product availability,” said Gower Street CEO Dimitrios Mitsinikos.
“In fact, as July 2023 marked a record-breaking month at the global box office,...
Global cinema box office takings will drop 5% in 2024 compared to 2023, according to analytics firm Gower Street Analytics, due to lack of product.
The data firm predicts a $31.5bn global box office for the year, down from the estimated $33.4bn for 2023.
“Given that we lost 50% of production time in 2023, the anticipated 5% year-on-year decrease in 2023 is not indicative of a declining interest in cinema, but simply a direct consequence of limited product availability,” said Gower Street CEO Dimitrios Mitsinikos.
“In fact, as July 2023 marked a record-breaking month at the global box office,...
- 12/19/2023
- by Ben Dalton
- ScreenDaily
Gower Street Analytics predicts the first annual downturn since the pandemic.
Global cinema box office takings will drop 5% in 2024 compared to 2023, according to analytics firm Gower Street Analytics.
The data firm predicts a $31.5bn global box office for the year, down from the estimated $33.4bn for 2023.
The drop will be most keenly felt in North America, where takings will drop 11.1% from $9bn in 2023 to $8bn in 2024, according to the forecast.
International takings without China will fall 7.1% from $16.8bn to $15.6bn; while China’s box office will rise a forecasted 3.9%, from $7.6bn this year to $7.9bn in 2024.
The 2024 global projection would...
Global cinema box office takings will drop 5% in 2024 compared to 2023, according to analytics firm Gower Street Analytics.
The data firm predicts a $31.5bn global box office for the year, down from the estimated $33.4bn for 2023.
The drop will be most keenly felt in North America, where takings will drop 11.1% from $9bn in 2023 to $8bn in 2024, according to the forecast.
International takings without China will fall 7.1% from $16.8bn to $15.6bn; while China’s box office will rise a forecasted 3.9%, from $7.6bn this year to $7.9bn in 2024.
The 2024 global projection would...
- 12/19/2023
- by Ben Dalton
- ScreenDaily
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