As a seasoned gamer who has seen the rise and fall of countless virtual worlds, I can confidently say that the box office scene of 2024 is reminiscent of leveling up to the next stage in an epic RPG. The Thanksgiving weekend was the boss fight we all needed to overcome, and we did it with aplomb, thanks to the trio of blockbusters – Moana 2, Wicked, and Gladiator II.
2024’s Thanksgiving box office saw a scorching success, surpassing predictions as Hollywood’s culinary creations catered to diverse tastes. Topping the charts were Walt Disney Animation’s family favorite, Moana 2, Universal’s musical rendition of Wicked, and Paramount’s sequel, Gladiator II. The domestic earnings for the extended five-day holiday weekend reached an unprecedented peak of $425 million, shattering the previous record of $316 million set in 2018.
2023’s domestic box office earnings showed a 10.6% decrease compared to the previous year, even with the premieres of “Wicked” and “Gladiator II” over the Nov. 22-23 weekend. This is a stark indication of the significant slowdown in movie sales due to labor disputes and the ongoing effects of the pandemic. However, following Thanksgiving, the annual earnings stand at $7.78 billion, only 6.3% lower than the previous year, which might suggest that ticket sales for 2024 could reach around $8.5 billion to $8.6 billion, and potentially even more. In contrast, last year’s revenue surpassed $9 billion, a figure still significantly lower than the $11 billion earned before COVID-19.
Whether a box office total of $1 billion by December 31 can be achieved hinges on the success of this Thanksgiving’s top films, as animated movies often have extended runs. Additionally, the upcoming December holiday season, marked by Disney’s “Mufasa: The Lion King” and Paramount’s “Sonic the Hedgehog 3,” opening on Dec. 20 and forecasted to perform well, plays a significant role. It should be noted that Christmas 2024 may not be as strong as usual since there is typically more content available, according to box office experts. In fact, they mention that the calendar could have benefited from a blockbuster like a new “Star Wars” film or an “Avatar” sequel.
There’s an age-old belief among movie distributors that high tides raise all ships, and they’re hoping the Thanksgiving rush will encourage people to keep going to the movies in the coming weeks. According to Comscore chief box office analyst Paul Dergarabedian, if Mufasa, Sonic, Kraven, and other upcoming releases exceed expectations due to a highly active late November market, we might be witnessing the makings of a Christmas box office miracle. In fact, anything over $8.5 billion would be an impressive achievement given that just a couple of months ago, even reaching $8 billion was considered a stretch.
Critics initially argued that releasing films like ‘Wicked’ and ‘Moana 2’ so closely together, both catering to female audiences, was a foolish move. However, it appears these critics were off base. ‘Wicked’ is primarily attracting older female moviegoers, while about 40% of ‘Moana 2’s opening weekend audience were teenagers and children, with a quarter being under the age of 12. Conversely, ‘Gladiator II’ is predominantly appealing to male viewers, who account for around 60% of its ticket sales.
Over Thanksgiving weekend, the movie sequel, Moana 2, broke multiple records by grossing $139.8 million in North America over three days and a total of $225.4 million in five days. By the end of its second weekend, it is expected to surpass $600 million in global ticket sales. Meanwhile, the musical Wicked continued to captivate audiences, earning nearly as much over the five-day holiday ($118.2 million) as it did during its initial release. Additionally, it has already outperformed Grease to become the highest-grossing Broadway musical adaptation of all time.
The musical “Wicked” is set to surpass the $300 million mark in domestic earnings by Friday, December 6. Meanwhile, “Moana 2” will exceed the entire domestic lifetime gross of the original Moana (released in 2016 with $248.8 million) after just 10 days on release, unadjusted for inflation. As for “Gladiator II,” which opened on November 22 alongside “Wicked,” it has already amassed a respectable $327 million at the global box office.
Eric Handler, an analyst from Roth Capital Management, finds Thanksgiving extraordinary, stating that the final six weeks of the quarter are looking fantastic and it’s evident that consumers are eager to go back to cinemas when the content is engaging. This situation suggests a promising outlook for 2025 and 2026, which both feature packed film schedules.
As a gamer, I couldn’t help but feel the excitement last year when Barbenheimer took over the silver screen. This year, during Thanksgiving, it seemed like everyone was talking about catching at least two, if not all three, of the big blockbusters. From what I’ve seen on social media, it looks like both Wicked and Moana 2 have been enjoying a surge in repeat viewings.
On just four occasions in cinematic history, consecutive weekends have seen movies debuting with over $100 million, like “Moana 2” and “Wicked”. Until now, this phenomenon was exclusive to the summer season. The extraordinary success of these three films – “Gladiator II”, as well – within a ten-day span has left Hollywood eager to capitalize on future opportunities to strategically time their releases for maximum box office returns.
This tale was initially published in the December 4 edition of The Hollywood Reporter magazine. If you’d like to get the magazine delivered to you, click here to subscribe.
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2024-12-06 18:55