Do you remember the Hollywood strike in 2023?The struggle between the actors and screenwriters, which lasted for half a year, made countless fans and industry insiders feel frightened and helpless.
Blockbuster films that were originally expected have been postponed or canceled, and the films released during this period have not been able to promote and expand the box office, which has plunged the global film market into a cold winter.
Now, the effects of the strike are finally being felt. Gower Street Analytics, a professional box office research agency, has released their 2024 global movie box office**, and the results are astounding!
They **, the global box office will decline by 5% in 2024 to only $31.5 billion, which is 20% lower than the average of 2017-2019!
Among them, the most affected by the strike is the North American market, where Hollywood is located, and the box office is expected to drop by 11% in 2024 to only $8 billion, which is 30% lower than the average of 2017-2019!
International markets (excluding China) will also decline by 7% to $15.6 billion, 21% below the 2017-2019 average.
And the only market that can grow against the trend is our China!
According to Gower Street Analytics**, China's box office will grow by 5% to $7.9 billion in 2024, almost on par with the North American marketTogether, they became the first and second places in the global film market.
What does this mean?This shows that Chinese films no longer rely on Hollywood products, but have their own creativity and competitiveness!
Fengshen: Chao Song Fengyun", "The Wandering Earth 2", "All or Nothing", "Man Jianghong", "Disappearing Her", "In the Octagonal Cage" and a series of excellent Chinese films have achieved extremely high box office achievements, supporting the box office growth performance of the Chinese market.
It also shows that the tastes and needs of Chinese audiences have changed, and they prefer to see local stories and cultures rather than be swayed by foreign perspectives and values!
This is the pride of Chinese films, and it is also the confidence of Chinese culture!
Of course, this does not mean that we want to exclude Hollywood films, and we still welcome excellent international productions to our screens, along with our homegrown films, to provide audiences with more choice and fun.
However, we must also be soberly aware that Hollywood movies are not the only standard for films, nor are they the future direction of films.
Not only Hollywood movies, but also Bollywood, South Korea, Japan and other regional countries are welcome, as long as the film itself is good enough, it can get excellent box office performance in China.
Cinema is both an art and a culture. It should reflect different people and different societies, rather than being dominated by a single voice and perspective.
We believe that with the continuous development and innovation of Chinese films, we will be able to bring more surprises and contributions to the global film market!
What are your thoughts on the global box office performance in 2023?
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