While exhibitors witnessed a dramatic ending to a dramatic year at the global box office, the market is still dealing with uncertainly as the new year begins. Last year saw challenges and triumphs and ultimately delivered an estimated Global Box Office of $21.4 billion. This is in line with the estimate of $21.6 billion which the London analytics firm Gower Street released in October. The year end was marked by concerns about the new Omicron Covid variant and witnessed re-closures in many countries. These included complete lockdowns in Austria (now re-open), Netherlands, Denmark, and Belgium (briefly, with the government u-turning on a re-closure policy just two days after they came in and following many cinemas defying the initial directive).
Gower Street Analytics
With 2021 just a couple of weeks and a few blockbusters short of the finishing line, the London-based firm Gower Street Analytics decided to look ahead to what's on the horizon for next year. And, after a much stronger box office year with exhibitors, distributors, and audiences becoming more comfortable in a COVID-world, Gower Street's first global box office prediction for 2022 suggests a significant improvement over 2021.
August posted another pandemic-era high at the international box office and the second biggest month of global box office since the pandemic began, according to the latest report from Gower Street Analytics, London. The month delivered a $2 billion global box office, up on July’s $1.9 billion and only lagging February’s $2.3 billion, which was fueled by a record box office month in China. The international market (excluding China) contributed $1.11 billion to the August total, beating its previous pandemic-era high, recorded the prior month, of $960 million.
March offered two major signs of recovery for the beleaguered cinema business, according to the latest report from Gower Street Analytics, London. Firstly, there was the impressive international opening of Godzilla vs Kong; the first global hit since the pandemic began over a year ago. Secondly, the long-awaited re-opening of cinemas in New York City and Los Angeles helped the U.S. Domestic market to achieve the highest grossing month in a year. With the first challenging quarter of 2021 behind us, wrote Gower Street analyst Thomas Beranek, the recovery of the global theatrical market, while still fragile, looks as promising as it has in months.
More than $2.6 billion in domestic box office might have been sacrificed in 2019 had a 17-day window been in place. A new report from the research firm Gower Street Analytics shows that 24 percent of total box office across the domestic market last year was taken beyond Day 17 of release. In the most dramatic example of this, Sam Mendes’ 1917 grossed $129 million at the domestic box office beyond Day 17 – an astonishing 81 percent of its lifetime gross.