Box Office Promise: Saudi Arabia’s Rapid Rise
Saudi Arabia has quickly established itself as a major player on the international box office scene, overtaking Italy in 2021.
Saudi Arabia has quickly established itself as a major player on the international box office scene, overtaking Italy in 2021.
Against the odds February recorded an impressive global box office of $2.88 billion – approximately 27% ahead of February 2021.
The International Union of Cinemas (UNIC) quoted Gower Street's 2022 box office projections as part of its 2021 results announcement this week.
Despite a lack of new releases, global cinemas accounted for a remarkable box office of $1.9 billion in January, up +94% year-on-year.
Gower Street estimates that the 2021 box office finished at $21.4 billion, 48% below the average of the last three pre-pandemic years.
The Netherlands has become the first Western European market to achieve the "full recovery" stage on Gower Street's Blueprint To Recovery.
For the first time, the Asia Pacific region represented over 50% of the global box office in 2020.
The market share of global theaters operating has dipped below 60% for the first time since before preparations for TENET helped drive re-openings in late-August.
The number of open theaters in the Domestic market has been falling since early October having topped out at 61%.