The global film industry celebrated a major milestone in 2024, closing the year with $30 billion in box office revenue. December alone contributed a stunning $3 billion, according to U.K.-based research firm Gower Street Analytics. This late-year surge made December the third-highest-grossing month since December 2019, trailing only July 2023 and July 2024.
The fourth quarter also set records as the decade’s highest-grossing Q4, amassing $6.5 billion. The second half of 2024 delivered $13.3 billion, marking a 5% increase compared to the same period in 2023, despite challenges posed by the 2023 Hollywood writers’ and actors’ strikes that disrupted release schedules.
North American Box Office Shines in December
North America capped off 2024 with a strong December, earning $992 million. This was the year’s second-best month, trailing only July, and the highest December performance since 2019. Blockbuster titles like Moana 2 ($214 million), Wicked ($190 million), Sonic the Hedgehog 3 ($152 million), and Mufasa: The Lion King ($128 million) fueled this success.
The North American box office ended the year at $8.8 billion, just a 3% decline from 2023. However, the figure remains 23% below pre-pandemic averages from 2017-2019.
International Markets Show Resilience Amid Challenges
International markets, excluding China, also performed well in December, contributing $1.68 billion and closing the year with a total of $15.4 billion. This represented a modest 2% drop from 2023 but remained 17% below pre-pandemic levels when adjusted for current exchange rates.
Disney’s Moana 2 led the December international box office, adding $604 million globally for a total of $904 million. The animated sequel is on track to become the third 2024 release to cross the $1 billion mark, joining Inside Out 2 ($1.7 billion) and Deadpool & Wolverine ($1.34 billion).
China’s Box Office Faces Sharp Decline
While global markets saw gains, China experienced significant setbacks. Its annual box office revenue fell 22% year-on-year to $5.8 billion, the lowest total since 2014 and 27% below pre-pandemic averages. December was particularly subdued, earning $321 million, a 46% drop from pre-pandemic levels and ranking as the eighth-best month of the year.
Overall Industry Recovery and Future Projections
Despite the challenges, the global box office’s $30 billion haul in 2024 demonstrates resilience, marking a 7% decline from 2023 but a significant improvement over earlier recovery years. Gower Street Analytics highlighted that a strengthened U.S. dollar complicated international revenue figures, widening the year-on-year decline to 11% when assessed at historical exchange rates.
Looking ahead, the global box office is forecasted to grow further in 2025, with Gower Street projecting a total of $33 billion — an 8% increase over 2024. As audiences return to theaters and major studios plan robust release schedules, the industry appears poised for continued recovery and growth.
This promising outlook suggests that, despite lingering challenges, the global film industry is steadily reclaiming its pre-pandemic momentum.
