Photo by The Walt Disney Studios shows the characters Sadness, voiced by Phyllis Smith, left, and Joy voiced by Amy Poehler, in a scene from ‘Inside Out 2’.
In 2024, movie ticket sales saw a slight dip, with the domestic box office expected to reach about $8.75 billion, marking a decline of more than 3% from 2023, according to estimates from Comscore. While this doesn’t compare to the pandemic lows, it still falls short of the pre-pandemic standard where the annual box office often surpassed $11 billion.
The impact of the 2023 Hollywood strikes was felt this year, with delayed productions and a reduced release schedule causing a gap for both moviegoers and exhibitors. However, the situation wasn't as dire as initially feared. "This has been a remarkable recovery story for the industry," said Paul Dergarabedian, Comscore’s senior media analyst. "Just a few months ago, there was doubt we'd even hit the $8 billion mark for the year."
The strikes, though resolved in late 2023, left their mark on the 2024 release calendar. The first half of the year suffered the most, with major titles like “Deadpool & Wolverine” delayed, and others pushed into 2025. The absence of a Marvel blockbuster to kick off the summer movie season led to a 27.5% box office decline in the months prior to the release of “Inside Out 2” in June. Dergarabedian noted, “The industry thrives on stability, and when the release schedule is disrupted, momentum halts.”
In terms of movie content, family-friendly films with PG ratings dominated. The year’s top earner, “Inside Out 2,” also set a new record as the highest-grossing animated film of all time. Other PG-rated films like “Despicable Me 4,” “Moana 2,” and “Kung Fu Panda 4” collectively brought in over $2.9 billion, making up roughly 33% of the annual box office. In comparison, PG-13 films accounted for about 30%.
Photo by The Walt Disney Studios, Moana 2.
The Walt Disney Co. made a major comeback in 2024, with three of the top five movies of the year, including “Inside Out 2,” “Deadpool & Wolverine,” and “Moana 2.” This marked Disney’s return to its box office dominance, surpassing $2 billion domestically by mid-December. The studio’s 20th Century division also contributed with titles like “Alien: Romulus” and “Kingdom of the Planet of the Apes.” Daniel Loria, a movie industry executive, remarked, “When Disney commits to theatrical releases, it changes the entire industry.”
As usual, the year also saw some high-profile flops. Sony’s “Spider-Man” spinoffs “Madame Web” and “Kraven the Hunter” underperformed, and Universal’s “The Fall Guy” didn’t meet expectations. Other films, such as “Furiosa: A Mad Max Saga” and “Joker: Folie à Deux,” also struggled at the box office. However, Loria suggested that these failures were often misunderstood. Passion projects like Kevin Costner's “Horizon: An American Saga” and Francis Ford Coppola’s “Megalopolis” didn’t come with sky-high expectations, and theaters didn’t clear out for them as they might for a blockbuster.
The real issue, according to Loria, was that the current release model, where one movie is expected to carry a month of box office revenue, no longer works. “Joker 2” struggled not because of its performance alone, but because there was no supporting film to sustain momentum.
Audiences, however, seemed to crave a diverse range of films. Thanksgiving and Christmas offered a mix of blockbusters like “Wicked,” “Gladiator II,” and “Moana 2,” alongside adult offerings such as “Nosferatu” and “A Complete Unknown.” Horror movies also proved a strong draw, with hits like “Longlegs” and “Terrifier 3” leading the way. Smart thrillers like “Conclave” and surprise originals like “Anora” also captured audience attention.
Nostalgia and re-releases made a comeback, with films like Christopher Nolan's “Interstellar” and “The Phantom Menace” proving successful, even though they were already widely available at home. Nolan commented on the appeal of the theatrical experience, saying it continues to captivate audiences, even for films they've seen before.
In another trend, novelty popcorn buckets gained unexpected attention. The “Dune: Part 2” bucket, for instance, sparked viral marketing, and “Nosferatu” coffin-shaped buckets became sought-after collectibles. Loria pointed out that while pre-pandemic moviegoer numbers haven't fully returned, those who did return were spending more on concessions and premium tickets than ever before.
Looking ahead, 2025 holds promise for the film industry. With at least 110 films expected to debut in theaters, including several highly anticipated titles, the future looks bright. “The final six weeks of 2024 have generated a significant amount of box office revenue,” said Dergarabedian. “This momentum is the perfect setup for 2025.”
