“Moana 2” and “Wicked” raise 2024 global box office revenues to $30 billion. trendy blogger

The global box office closed out 2024 with a bang, reaching $30 billion for the year, boosted by $3 billion in December alone, according to U.K.-based film industry research firm Gower Street Analytics.

December proved to be a busy month, with the international (excluding China) and North American markets bringing in a combined $2.67 billion. This is the third-highest monthly total since December 2019, behind only July 2023 and July 2024. This late-year increase made the fourth quarter the highest-grossing quarter of the decade, at $6.5 billion. The second half of the year generated $13.3 billion, an increase of 5% compared to the same period in 2023.

Despite the lingering aftershocks of the 2023 Hollywood writers and actors strike, which choked the release calendar, the combined international markets (excluding China) and North America held steady with $24.2 billion in 2024 — down just 3% from 2023. However, The industry is still on a roll, with this figure 20% below the pre-pandemic average for 2017-2019.

Meanwhile, China’s box office had a difficult year. The market saw a sharp 22% decline year over year, reaching $5.8 billion, its lowest annual total since 2014 and a massive 27% decline from its pre-pandemic average. December was particularly quiet in China, where it brought in $321 million, ranking as the eighth-best month of the year and 46% below pre-pandemic levels.

On the other hand, the North American market ended the year on a high note, recording December revenues of $992 million, the second-best month of 2024 after July. This was the strongest December since 2019, thanks to strong films like “Moana 2” ($214 million), “Wicked” ($190 million), “Sonic the Hedgehog 3” ($152 million), and “ “Mufasa: The Lion King”. 128 million dollars). The North American market finished the year with a total of $8.8 billion, down just 3% from 2023, though it still trailed pre-pandemic numbers by 23%.

The international market (excluding China) generated $1.68 billion in December, ending 2024 with $15.4 billion. While that represents a modest 2% decline from 2023, it is still 17% below pre-pandemic averages when current exchange rates are taken into account.

Disney’s “Moana 2” dominated December, adding $604 million to its total to $904 million. The animated sequel is on track to become the third global release of 2024 to break the $1 billion mark, joining “Inside Out 2” ($1.7 billion) and “Deadpool & Wolverine” ($1.34 billion).

While global box office revenue of $30 billion represents a 7% year-over-year decline (at current exchange rates), this figure comfortably outpaces previous recovery years, indicating resilience amid industry headwinds. Gower Street pointed to the strengthening US dollar as a complicating factor for international markets, causing the year-on-year gap to widen to 11% when assessed at historical exchange rates.

Looking ahead, the company expects 2025 to be promising, as it expects the global box office total to reach $33 billion – a potential jump of 8% from the end of this year.

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