Although 2023 had some big hits in theaters such as The Super Mario Bros. Movie, Barbie and Oppenheimer, there were many more films that caused hundreds of millions in losses, such as Indiana Jones and the Dial of Destiny, The Flash in The Marvels. The predictions for 2024 look even worse.
In 2023, all films combined grossed $8.7 billion in North America, an improvement from previous years when the coronavirus pandemic closed many cinemas for months. But before the pandemic, films brought in much more money to cinemas and film studios. 2018 was a record year, when no less than $11.89 billion was collected.
Predictions
Unfortunately, it doesn’t look like 2024 will be a better year. Forecasts show that 11% fewer tickets will be sold in 2024 than last year.
The reason for this is simple, there will be a lot fewer films released in 2024 than last year. There are currently 107 films scheduled for a national release, compared to 123 films in 2023. There are even 6 weeks next year when no films will be released at all. (We are talking about big films that play in most cinemas, small films that only play in art houses do not count.)
No guarantees
2024 needs some big hits to turn the tide. Cinemas could really use another phenomenon like ‘Barbenheimer’. But if we have learned anything in 2023, it is that it is very difficult to predict which films will make a lot of money. Major franchises such as Fast and Furious, Marvel, Indiana Jones in Transformers are no longer guaranteed successes.
There are plenty of big films coming out in 2024 that will probably make a lot of money, such as Deadpool 3, Joker 2, Dune Part 2 and Kingdom of the Planet of the Apes. But whether enough money will come in to save the cinemas remains to be seen.
2023-12-29 17:36:58
#Cinemas #crisis #threatens #difficult #year
