The year 2024 presented significant challenges for the movie industry, with box office sales anticipated to reach $8.75 billion, marking a decrease of more than 3% compared to 2023. Although the situation was far better than the pandemic years, it still falls short of the pre-pandemic box office figures, where annual revenue routinely exceeded $11 billion. The effects of the 2023 Hollywood strikes became evident, with delayed productions and a reduced calendar of releases. Despite these obstacles, the industry’s recovery has been stronger than initially feared.
Paul Dergarabedian, a senior media analyst at Comscore, remarked, “This has been a really incredible comeback story for the industry.” In fact, as late as mid-2024, it was uncertain whether the box office would reach $8 billion by the year’s end. While the strikes left a mark on the calendar, especially in the first two quarters, the industry’s resilience is notable. Many major releases, such as “Deadpool & Wolverine,” were postponed to later in 2024 or even into 2025. The lack of a Marvel movie to usher in the summer movie season contributed to a significant drop in box office sales in the early months.
The biggest takeaway from 2024 is the dominance of sequels and franchises, a trend that continued strongly. However, it was the family films rated PG that led the pack. “Inside Out 2,” which became the top film of the year and the highest-grossing animated movie of all time (excluding inflation), demonstrated the power of family-friendly entertainment. Other PG-rated hits, including “Despicable Me 4,” “Moana 2,” and “Kung Fu Panda 4,” collectively brought in over $2.9 billion in box office revenue, making up about 33% of the total for the year. In comparison, PG-13 films accounted for roughly 30%.
The Walt Disney Company made an impressive comeback in 2024, securing three films in the top five: “Inside Out 2,” “Deadpool & Wolverine,” and “Moana 2.” This success helped Disney cross the $2 billion domestic revenue threshold in mid-December, a significant milestone. The company’s 20th Century division also contributed with successful releases like “Alien: Romulus” and “Kingdom of the Planet of the Apes.”
However, not all films met expectations. Titles from Sony such as “Madame Web” and “Kraven the Hunter,” both adjacent to the popular Spider-Man franchise, faced disappointing results, a fate shared by several other movies. High expectations for films like “The Fall Guy” from Universal and Warner Bros.’ “Furiosa” were also unfulfilled. Despite this, smaller, filmmaker-driven passion projects like “Horizon: An American Saga” and “Megalopolis” did not suffer the same fate as anticipated, as their release strategies involved lower expectations and fewer screens.
The release schedule in 2024 exposed a critical flaw in the industry’s approach to maintaining momentum. As Dergarabedian explained, “When the release calendar is thrown off, the momentum stops.” A lack of consistent releases made it difficult to sustain interest and box office revenue. However, a diversified lineup in the later months of the year provided much-needed balance. Thanksgiving and Christmas releases, including “Wicked,” “Gladiator II,” “Moana 2,” and “Mufasa,” performed well and brought a renewed sense of vitality to the industry.
Horror films continued to be a strong draw for audiences in 2024. Movies like “Longlegs,” “Nosferatu,” “Terrifier 3,” and “Smile 2” proved that genre films can still attract significant audiences, and movies such as the drama “It Ends With Us” and smart thrillers like “Conclave” garnered attention for their engaging storytelling. This demonstrates that audiences remain eager for a variety of film types beyond just blockbuster sequels.
Re-releases also performed remarkably well, as evidenced by films like Christopher Nolan’s “Interstellar,” “Coraline,” and “The Phantom Menace.” Nolan, reflecting on the success of re-released films, commented, “Audiences truly understand the difference between a communal, big-screen theatrical experience that they crave even on films that they’ve had the opportunities to see at home.”
An emerging trend that gained attention this year was the popularity of novelty popcorn buckets. While it began as a quirky creation for “Dune: Part 2,” the trend spread to “Deadpool & Wolverine” and even “Nosferatu,” with some buckets fetching high resale prices. This phenomenon exemplifies how moviegoers are willing to invest in the theatrical experience, not just the films themselves. Premium tickets for large-screen formats like IMAX have also seen a surge in popularity.
While the pandemic has left lasting effects, the movie industry’s recovery has been evident, and the optimistic outlook for 2025 is supported by a diverse slate of over 110 films expected to hit screens. As Dergarabedian put it, “There’s been a huge amount of box office generated in the last six weeks of the year. This is the best opening act 2025 could have.”
