The summer box office for 2024 is not performing as well as previous years, with a focus on mid-range sequels and family-focused animated films to make up for the lack of blockbuster hits like “Barbie” and “Oppenheimer” from the previous year. Production delays from strikes by the Writers Guild and SAG-AFTRA are also impacting the release schedule, potentially causing a 20-25% decrease in box office grosses compared to the previous summer.
Historically, the summer season accounts for nearly 40% of the total domestic annual revenue, making it a crucial period for theaters and studios. The lack of major overperformances so far this summer is a concern for analysts, as no movie has crossed the $100 million opening weekend threshold typically seen in blockbuster action and family films. The absence of a Marvel movie in the lineup has led to a slower start to the summer box office.
Upcoming releases like “Deadpool & Wolverine” and “Inside Out 2” are anticipated to be potential hits that could cross the $100 million threshold. These films, distributed by Walt Disney Studios, are crucial for boosting the box office performance for the remainder of the year. Studio offerings, particularly from the Pixar and Marvel divisions, will be essential to driving audience turnout and revenue in the coming months.
Despite the sluggish start to the summer box office, industry experts remain hopeful that the box office can rebound in the second half of the year. Films like “Despicable Me 4” and “Inside Out 2” are expected to perform well, with “Deadpool & Wolverine” predicted to be the top film of the summer. The impact of changing moviegoing habits post-pandemic continues to shape audience preferences and box office performance.
Overall, the 2024 box office projections estimate gross earnings of $8.2 billion, a 10% decrease from the previous year. The industry is still recovering from the impact of the pandemic and labor strikes, with the hope that strong titles in the second half of the year can help fill the gap. While predicting blockbuster hits remains challenging, enthusiasm for the theatrical experience continues to drive audience support for studio releases.
