The big issue facing the industry is the number of total wide releases on the calendar in 2024. By the end of 2023, there will have been just shy of 100 wide-release movies in theaters. As it stands, 2024 is hovering around a projected 82, with the first quarter of the year especially bare until “Dune: Part Two” arrives on March 1, 2024. That is a significant decline, and it stands to reason that, with fewer movies in theaters, the overall box office will see a downturn. Especially considering that many of the movies that were delayed to 2025 and beyond were huge blockbusters such as “Mission: Impossible 8” and “Captain America: Brave New World,” among others.
But again, let’s look at the positives here. For one, new movies are being added to the calendar every day it seems, including titles with enormous upside potential. Lionsgate recently announced “Saw XI” for a September release, coming just a year after “Saw X” grossed more than $109 million worldwide. Lionsgate also has “White Bird,” a prequel to 2017’s “Wonder,” on deck for October next year. Let us not forget that “Wonder” took in $306 million against a mere $20 million budget in its day, and those are just a couple of examples.
We’re also already seeing examples of studios doing their part to help fill out the first chunk of the year. Disney recently announced that Pixar’s “Soul,” “Luca,” and “Turning Red,” all of which were dumped directly to Disney+ thanks to the pandemic, will finally be getting proper theatrical releases beginning in January. Other studios could follow with similar re-releases, possibly timed to significant anniversaries. “The LEGO Movie” ($468 million worldwide) turns 10 and “The Passion of the Christ” ($622 million worldwide) turns 20 in February, if anyone is looking for ideas. There are ways to fill the voids, and studios are already trying to do so, it seems.
