Overall ticket sales in U.S. and Canadian theaters for 2023 are expected to reach about $9 billion, according to Comscore, an improvement of about 20% from 2022. The industry is still trying to regain its pre-pandemic footing, when ticket sales regularly surpassed $11 billion.
The total number of movies released in North America before the pandemic peaked in 2018 at 873, dropping almost three times in 2020 to 334. Although the number of movies produced is rising each year, the industry still trails far from pre-pandemic production levels.
“Ticket sales are down 21% from four years ago, but that's not the only thing that's down. So, too, is the number of wide releases,” Sarah Whitten wrote in an article for CNBC. “From January to June 30 in 2019, 57 films were released in 2,000 theaters or more.
Although the industry experienced robust growth in 2021 and 2022 as restrictions eased and audiences returned, revenue has yet to return to its pre-pandemic total. Revenue has fallen at a CAGR of 6.1% to $15.3 billion through the end of 2024.
The future of filmmaking is all about creating immersive and interactive experiences for the audience. With live streaming and interactive storytelling, filmmakers can create a deeper connection with their audience and redefine the way films are consumed.
How Producers OUT EARN everyone in the Film Business
Why has movie quality gone down?
A lack of new ideas in the filmmaking industry, as well as the take over of streaming services are some of the many causes for this degenerating trend of well-made movies.
Already, the industry is seeing improvements in ticket sales. Through Monday, the 2023 box office has tallied $958.5 million in ticket sales, up nearly 50% compared to last year and down just 25% from 2019, according to data from Comscore.
The pandemic and the rise of the small screen have created a financial challenge for the entire movie theater industry. Although ticket sales were up in 2023 over 2022 (825M versus 813M), they are still falling short of the 1.2B sold in 2019, according to Statista.
Between at-home streaming, strikes in Hollywood that halted film productions, and a pandemic that required would-be moviegoers to stay home, theaters have not had an easy time. Theater chains have closed dozens of theaters in recent years, and, as of last year, ticket sales were still one-third lower than in 2019.
Global box office revenue is predicted to hit $32 billion in 2024, according to film analytics firm Gower Street, which is nowhere near the $40-billion-plus heights of the pre-COVID-19 era.
Professional nonprofit theaters across the country are still struggling to attract patrons who stopped attending live shows during the COVID-19 pandemic, and shifts in audience behavior combined with depleted federal support will likely conspire to create an even more uncertain future for performing arts organizations, ...
In 2019, people bought about 1.2 billion movie tickets. By the time 2023 is done, a little over 800 million tickets will have been sold. That's an improvement over the COVID years. But it's still about a third less — and that's with the gloriously bizarro phenomenon that was Barbenheimer.
During the last eight recessions, box office sales grew six-fold. We may earn a commission from links on this page. US box office sales recovered to 2019 levels this past week, meaning that moviegoing has officially recovered from its pandemic slump.
Streaming video is a new source of revenue for Hollywood movies. VOD revenues tend to dry up after a few years, but movie studios can still make money from older films by licensing them to Netflix or Amazon Prime.
Hollywood is the world's oldest national film industry, and largest in terms of box-office gross revenue. Indian cinema is the largest national film industry in terms of the number of films produced, with 2,446 feature films produced annually as of 2019.
Between 2022 and 2023, the net loss of AMC Theatres decreased by almost 600 million dollars, standing at less than 400 million U.S. dollars in the latter year. The revenue of movie theater chain AMC increased in the same period.
The more a film costs to make (and market), the more it has to make to avoid flopping at the box office. Film studios are making fewer and fewer movies as the years go by, but they tend to cost much more over time, so perhaps it's not surprising that there seem to be more and more flops.
Some actors who have been in the industry for longer may prefer not to watch their movies. They might enjoy performing, but are not interested in watching the film itself; or they might avoid watching their movies to prevent being self-critical and negatively affecting their future performances.
Streaming of course is a huge contributor to the decline of movie theater demand. With all of the streaming services out there, everyone is bound to have at least one to watch movies and shows on. Netflix has over 3,600 movie titles on it, why go to the theater when you have so many options at home?
Research released Wednesday by the National Endowment for the Arts found that significantly fewer American adults are attending cultural activities such as classical music concerts, theater productions and movies than they did before the coronavirus pandemic.
The average theatrical window for films released from May through June will end up more than 40 days — a significant increase compared to January-April, when the theatrical window fell to an average of 30 days.
So is Filmmaking a Good Career? The answer to the above question is yes – but it's not always easy. With hard work, skill and a little bit of luck, you can make a name for yourself in this creative and ever-changing industry.
What is the average price of a movie ticket these days?
According to a recent report, the cost of a movie ticket in the United States has seen an increase over the years. In 2022, the average ticket price reached 10.53 U.S. dollars, up from 9.16 U.S. dollars in 2019.
Also, earlier parts of Hollywood movies are packaged within subscriptions in OTT, which excites people to watch them in their comfort, space instead of watching the same in a theatre at a different cost. Thus, in many ways, online video hosting platforms are quite a better option to stream new movies.
Although everyone watches movies to escape, escapism is heightened when watching in a theatre. You're forced to watch without breaks or distractions from people and phones. You can fully engage and concentrate – acts often difficult to perfect at home.
