Global box office earnings to hit $25.8bn in 2022, well-below pre-pandemic levels

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Global box office earnings to hit $25.8bn in 2022, well-below pre-pandemic levels

On Friday, the box office analysis firm, Gower Street, had issued a statement saying that the global theatrical revenues would likely to hit $25.8 billion this year, marking a nearly 21 per cent leapfrog compared to a year earlier, as the successes of “Top Gun: Maverick” alongside “Wakanda Forever” had continued to deliver a propitious influx of revenues around the globe.

On top of that, “Avatar: The Way of Water,” the first sequel of James Cameron’s 2009 epic “Avatar” which is projected to open between a range of $150 million and $175 million would more likely to contribute a modest sum over the holiday season this year.

Apart from that, the Gower Street report also had added that the global box office would retain the trend of a double-digit growth next year, as the box office analysis firm was quoted saying that it is expected the global box office revenues to stand at $29 billion by end-2023, a 12 percent jump compared to 2022.

Apart from that, the firm forecasted a double-digit growth in revenues in 2024 as well.

Global box office revenues to hit $29 billion in 2023

If truth is to be spoken, a $29 billion grossing across the global box offices may sound a moderate upsum contemplating a mass-scale downward spiral between 2020 and 2021 due to the pandemic-led restrictions alongside a three-year long pandemic-led curb in China, the world’s largest movie market, however, the sum remains well-below a pre-pandemic average.

Aside from that, the North American box office is projected to gross 12 per cent higher than 2022 next year. Gower Street also revealed that the domestic box office had earned $7.65 billion this year, while the total would likely to spike to $7.65 billion next year, still the total remains around a 25 per cent below of a pre-pandemic average.