Ahead of CinemaCon 2022, Gower Street has revealed its updated global box office projection for 2022. Gower Street is now estimating a year-end global box office of $31.5 billion.
The new projection was announced this week exclusively with Screen International. Both the global projection and a UK/Ireland projection appear in the latest, April, print issue of Screen International (available to Screen subscribers). Additionally an article by box office and awards editor Charles Gant, focused on the new projection, was published on Screendaily on Tuesday (April 19).
As well as the global projection, the Screendaily article features a breakdown by region showing individual projections for the Domestic (North American) market, China and International (excluding China). There is also a breakdown of the component regions of the International figures: Europe, Middle East and Africa (EMEA), Asia Pacific (excluding China), and Latin America. The article compares them with actual box office by region from 2017-2021. Charles also spoke with our CEO Dimitrios Mitsinikos and Director of Theatrical Insights Rob Mitchell for the piece.
To access these regional numbers and to read the full Screendaily article, visit the link here or click on the image below.
The revised global projection is based on box office actuals data, provided by our partners at Comscore Movies, and projections for the remainder of 2022 based on Gower Street’s FORECAST service and the current release calendar. Gower Street had previously announced a projection of $33.2 billion in December 2021.
Since then a number of factors have had an impact. These include changes in the release calendar. Following our initial projection a number of studio titles, including THE BLACK PHONE and MORBIUS, moved out of the Q1 corridor in favour of later release dates, while Disney-Pixar’s TURNING RED skipped movie theaters completely in favour of a streaming premiere, leaving a sparser Q1 landscape. Other titles, such as potential Q4 heavyweights MISSION: IMPOSSIBLE 7, THE FLASH and AQUAMAN AND THE LOST KINGDOM, moved out of 2022 into 2023 dates. Significant cinema closures in China in March due to rising Covid-19 cases, as well as impact in markets including Hong Kong and the Netherlands of complete closures, had an impact on Q1 and into Q2.