Box Office: New 2023 Global Revenue Forecast Issued on Eve of CinemaCon
Global box office revenue in 2023 could now hit $32 billion instead of a projected $29 billion, according to leading analytics firm Gower Street.
The London-based outfit released its updated forecast on the eve of CinemaCon, the annual gathering of theater owners and Hollywood studios in Las Vegas. This year’s edition runs April 24-27. Throughout the week, studios will address the ongoing box office recovery, celebrate their successes from the past year and tout their upcoming releases.
The mood at this year’s show is expected to be upbeat overall. No one expects moviegoing to return to pre-pandemic levels until 2024 or beyond when there are roughly the same number of releases as before, but there is steady progress. Global revenue hovered around $26 billion in 2022, up 23 percent from $21.3 billion in 2021 (and if Gower is right, this year will again be up 23 percent).
But the recovery isn’t for the impatient — 2022 worldwide box office...
The London-based outfit released its updated forecast on the eve of CinemaCon, the annual gathering of theater owners and Hollywood studios in Las Vegas. This year’s edition runs April 24-27. Throughout the week, studios will address the ongoing box office recovery, celebrate their successes from the past year and tout their upcoming releases.
The mood at this year’s show is expected to be upbeat overall. No one expects moviegoing to return to pre-pandemic levels until 2024 or beyond when there are roughly the same number of releases as before, but there is steady progress. Global revenue hovered around $26 billion in 2022, up 23 percent from $21.3 billion in 2021 (and if Gower is right, this year will again be up 23 percent).
But the recovery isn’t for the impatient — 2022 worldwide box office...
- 4/23/2023
- by Pamela McClintock
- The Hollywood Reporter - Movie News
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