The global box office added $3 billion in August for an estimated cume of $21.1 billion for 2024 to date. That narrows the gap to the three-year average to -21%, down from -28% at the end of May, according to Gower Street’s latest Global Box Office Tracker (GBOT).
As the summer drew to a close 2024 was shaping up well. For the third month in a row the global box office delivered results at the top end of the running year. The International (excluding China) and Domestic markets generated a combined box office of $2.46 billion in August. That is the second-best month since August last year, just behind the prior month July (-13%), which recorded $2.84 billion, and slightly ahead of June with $2.4 billion (+2%).
On this month’s GBOT (above), the stacked bar graph on the left shows total box office levels split out by the three key global markets: Domestic, China and International (excluding China). The pie chart indicates the current deficit compared to the average of the three pre-pandemic years (2017-2019) and where those losses are currently coming from. The bar graph on the bottom right displays the percentage drops globally.
The Domestic market particularly flourished, topping the box office level of the comparable month average in 2017-2019 by +15%! That is the highest level since the start of the decade and only the third time that the Domestic market reached or exceeded pre-pandemic levels in any month!
The International market (excluding China) was -12% below the three-year average, though this is still the third best result of the year so far.
Only China performed significantly under its pre-pandemic standard in August being -44% below the benchmark. It’s the third biggest gap of the past twelve months. China grossed $553 million in August, the third best result of the past 12 months, but still severely down (-48%) on the same month last year. Only holdover local comedy SUCCESSOR grossed more than $100 million within the month, adding approximately $115 million to its cume ($448m). ALIEN: ROMULUS ranked #2 in August with $89 million. An exceptional result and one of the rare cases in recent years that China was the global leading market for an MPA release. Only one local new release generated more than $50 million in August: animated title WHITE SNAKE: AFLOAT ($54m).
While August is historically the second most lucrative month in China after February, the opposite must be said about the Domestic market. August is historically its third lowest grossing month of the year. This year, that is turned upside down. The Domestic market scored big in August. Grossing $909 million, the third highest result of 2024 so far. That is +9% above August last year. It is only the second time this year that a month outperformed the same month last year (March, +17%).
For the third month in a row the Domestic market had a title grossing more than $300 million in a month, as DEADPOOL & WOLVERINE added $313 million within August for a total of $594 million. This is the longest streak since the four months between April and July last year. The success in August didn’t only happen at the top, it was lifted by a phalanx of titles. Seven movies were able to gross more than $30 million in August, which is the best in a month since December last year (9).
The excellent August in the Domestic market narrows the gap to the three-year average to -27%, down from -43% at the end of May. At the end of August, the Domestic cume is $5.8 billion, which is -14% behind last year at the same time and +8% above the same period in 2022.
It was quite a family affair at the top of the box office, in two ways. Hollywood power-couple Ryan Reynolds and Blake Lively led the month’s two top-grossers: holdover DEADPOOL & WOLVERINE ($632m in August for an impressive $1.25bn total at the end of the month) and top new release IT ENDS WITH US ($277m within the month).
Meanwhile two of the month’s other top 5 performances were earlier summer family animated holdovers DESPICABLE ME 4 (adding approx. $195m for $909m) and INSIDE OUT 2 ($135m for a colossal $1.663bn – now the #9 movie of all-time globally).
Sandwiched between the Reynolds-Lively household and the animated hits was another Disney title, though less family-friendly, ALIEN: ROMULUS. Fede Alvarez’s franchise reboot grossed approximately $274 million within the month and has already overtaken the last franchise instalment, 2017’s ALIEN: COVENANT ($241m).
Collectively the top five global releases generated a combined box office of $1.5 billion within the month, 50% of the month’s worldwide total.
The global theatrical industry enjoyed three consecutive months of significantly increased results. Over the past months a more robust release calendar of blockbusters carried the box office again nearer to last year’s summer heights. It even included two movies joining the top 21 global all-time list with INSIDE OUT 2 and DEADPOOL & WOLVERINE. That also means that seven of the highest 21 grossing movies of all-time globally have released since December 2021!
At the end of August, the global box office is -13% below the same period in 2023 and +18% above the one in 2022. In the past two years the release schedule emptied out in the final four months of each year. This won’t be the case this year. The last four months of this year are filled with a far bigger number of attractive movies on offer that will lift the box office in comparison.
