2024 is shaping up to be a dismal year for cinemas and studios, with the domestic box office expected to drop by $1 billion.
Deadline reports that due to the SAG-AFTRA and WGA strikes, all the delays mean only 107 wide titles in 2024. Plus, there are some massive gaps between releases. With this news, it’s expected to earn around $8 billion, which is down 11% to 2023.
2024 dismal movie outlook
This all comes after rebounds from COVID, which forced many studios to temporarily halt production and theaters to close.
A studio exec told Deadline, “We should be nervous about the first half of 2024.”
“There’s no way that a labor stoppage as prolonged as chaotic as this wasn’t going to have consequences,” the suit continued. “Fire comes through and burns a forest and a town, and then the fire is over. But the consequences of the fire aren’t over. There’s mudslides, and there’s damaged infrastructure.”
They added, “The fire is over. Now we’ve gotta rebuild the town.”
The beginning of 2024 is the one to watch (Q1). Much pressure is on Warner Bros./Legendary’s Dune: Part Two to be a massive success. It has the potential to be a billion-dollar grossing movie when it comes out on March 1.
On top of that, here’s hoping Bob Marley: One Love, Kung Fu Panda 4, Cabrini, Ghostbusters: Frozen Empire, and Godzilla x Kong: The New Empire also bring in big numbers.
After Q1, Q2 is set to release 31 wide titles. They include Deadpool 3, which arrives on July 26.
One studio exec said, “These are far bigger issues for me: The failures of this year and beyond, coupled with the lack of originality and the need for newness that actually works. The risk is that we’re boring the audience with the same old shit.”
Nothing is set in stone, and this is all a projection. Some movies with huge potential are coming out in 2024, including Joker: Folie a Deux, Gladiator, Inside Out 2, and many more.
We’ll see what happens at the box office this next year. Here’s hoping it becomes a record-setting 2024 and projections are wrong.
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