Gower Street CEO Dimitrios Mitsinikos talked 2023 projections on the first CJ Cinema Summit of the year. Hosted by Celluloid Junkie editor Patrick von Sychowski the webinar took place on Thursday January 19.
Dimitrios spoke with Patrick and co-host Thomas MacCalla. He discussed Gower Street’s announcement of the final 2022 global box office, and shared a slide focused on Q4 highlights led by AVATAR: THE WAY OF WATER.
He then moved on to discuss Gower Street’s early 2023 global box office estimate or $29 billion. Dimitrios walked Patrick, Thomas and Summit attendees through the key titles by quarter. He spoke about the relatively quiet Q1, followed by improvements in Q2 and Q3, before “getting a little bit alarming” in Q4 due to a “sparsely populated” release calendar.
He also announced Gower Street’s brand new ‘WKND By Gower Street’ service, which allows industry executives to have a global overview of the upcoming weekend box office before it happens.
The Summit had previously kicked off with a recorded discussion between Celluloid Junkie’s J. Sperling Reich and Lawrence Wang, CEO of Vista China. Within the conversation Wang discussed the difference between current Wall Street projections for Chinese box office in 2023 at $5.55 billion (in-line with Gower Street’s $5.6bn initial estimate) and the local government’s “very aggressive” projection of $9 billion (with Hollywood titles expected to account for $3bn of that).
A full recording of the CJ Cinema Summit can be accessed here.