Hollywood
Global Box Office Forcast Increased To $32 Billion For 2023
Los Angeles, April 24 - The happy days for the box office are back!## After projecting the global box office to reach $29 billion in 2023 in December 2022, Gower Street Analytics has increased its projection to $32 billion after an excellent response in the first quarter of the year. (via Deadline)## The London-based firm released its updated forecast on the evening of CinemaCon, the annual gathering of theater owners and Hollywood studios in Las Vegas. The forecast has been increased seeing films exceeding projections, led by "The Super Mario Bros Movie" which is running towards the coveted $1 billion mark. ## If the $32 billion projection for 2023 holds, this would represent an approximate 23% improvement on 2022, while still trailing the three pre-pandemic years (2017-2019) by 20% on average. ## Out of the $32 billion, the company is estimating the international box office (outside Hollywood) to reach $23 billion, including $6.8 billion in China. The North America box office projection is about $9 billion, approx. 20% improvement from 2022. ## The box office forecast for 2023 by Gower Street Analytics is based on the release calendar as it currently stands. The box office in 2017 was $40.9B, followed by $41.8B in 2018, and $42.3B in 2019, as per Gower. In 2020, when the pandemic hit the world, the box office declined drastically to $11.8B, before seeing some rejig to $21.3B in 2021, and $25.8 billion in 2022.## Stay tuned...
