Hollywood Faces Uncertain Future as Box Office Estimates Drop for 2024

Universal leads market share in 2023, while Disney loses box office crown for the first time in nine years.

The 2023 domestic box office met analyst expectations with about $9.1 billion, up from $7.5 billion, despite the unforeseen impact of the SAG and WGA strikes. However, estimates for 2024 are around $8 billion.
Hollywood no longer has a reliable template to produce and release theatrical hits, with each studio having to face the reality that history can’t guide future results.
Universal led the market share in 2023 with $4.908 billion worldwide and $1.936 billion domestic, followed by Disney with $4.827 billion worldwide and $1.903 billion domestic.
Disney lost the box office crown for the first time in nine years, with its huge investment in supposedly surefire films not reaping the benefits.
Sony’s biggest strength may come from what it doesn’t have: the expensive burden of an in-house streamer. The company mostly made films for $100 million or less across a range of genres.