Global box office to reach $26 billion in 2022, up 27% from 2021 – analysts

According to Gower Street Analytics, the global box office for 2022 has reached nearly $26 billion, up 27% year-on-year. Of the estimated $25.9 billion total, the international box office accounted for $18.4 billion, up 16% year-on-year at current exchange rates, with the total dragged by China. Excluding this market, overseas is valued at $14.1 billion, up 55% from 2021. According to Gower’s partners at comScore, domestic business rose 65% to $7.5 billion, 65%.

The numbers are encouraging, but show there is still a way to recover. The global number is 35% below the three-year average before the pandemic (2017-2019). This equates to a loss of about $14 billion at current exchange rates. International markets (excluding China) are estimated to have closed with a narrower deficit of 29% compared to the 2017-2019 average.

China, at an estimated $4.33 billion (-36%) by Gower, is one of three markets in the analysis to end the year in deficit compared to 2021. As we reported, few Hollywood films made it to market due to tight permits, although local titles also struggled. In 2022, two Chinese films feature in the global top 10, ranking 9th and 10th. In 2021, the market had three films in the top 10, 2nd, 3rd and 6th. There is some hope that now, with the National Party Congress and the 100th anniversary of the Communist Party behind us, more rational decisions may be forthcoming. However, the market is also expected to continue to see a Covid surge earlier in the year, as it has recently made a U-turn on its zero-Covid policy. Overall, this is 49% below its pre-pandemic three-year average.

All three major regions outperformed local or Chinese markets compared to pre-pandemic averages, according to Gower Street.

Europe, Middle East and Africa brought in $7.1 billion (-31% above pre-pandemic average/+52% in 2021). Asia Pacific (excluding China) brought in $5.2 billion (-26%/+49%). Latin America brought in just $1.8 billion (-30% of the pre-pandemic average), a whopping 87% increase from 2021.

Japan was undeniably the most important international market of 2022, falling just 9.4% from the pre-pandemic average at an estimated US$1.52 billion. It came with a mix of great local anime titles and some Hollywood input. The most successful film was One-piece film: red for $140 million domestically and $213 million worldwide. Top Gun: Maverick had fantastic grips during his run in Japan and finished 2nd for the year.

Compared to pre-2019 and due to the invasion of Ukraine which led to a studio boycott, Russia was the weakest market that Gower tracked. The total for 2022 is estimated at $310 million, down 43% from 2021 and 57% behind pre-pandemic times. Local movie The Last Warrior: A Messenger of Darknessoriginally released in late 2021, earned the majority of its $30.8 million in 2022, while Sony’s Not mapped was the last studio film released before the boycott and was the year’s best with $19 million.

The top followed international markets for Gower Street were China, Japan, the United Kingdom ($1.2 billion), France ($1.06 billion) and Korea ($900,000).

worldwide, Top Gun: Maverick was the number 1 film in the calendar year 2022 Avatar: The Way of Waterwhich came out in mid-December just topped it.