The summer box office for 2024 ended with a surprising recovery, generating an estimated $3.67 billion in domestic revenue, a decline of 10.3% from 2023. Despite the drop, Hollywood executives and theater owners remain optimistic, as the industry navigated through significant challenges, including the aftermath of the pandemic, labor strikes, and increased competition from streaming platforms.
The season began with uncertainty. May 2024, the official start of the summer box office, saw a 29% revenue drop compared to the previous year, fueling fears that the theatrical experience might struggle to survive. The postponement of Marvel Studios and Disney’s highly anticipated Deadpool & Wolverine—originally set for early May but delayed to late July—marked a significant setback. This delay meant that, for the first time in years, a Marvel superhero film did not kick off the summer, leaving Universal’s The Fall Guy to take the lead. Unfortunately, the action-romancer fell short of expectations. Warner Bros.’ Furiosa: A Mad Max Saga also underperformed, further dampening the Memorial Day weekend box office.
However, the tide began to turn in June. Sony’s Bad Boys: Ride or Die initiated a two-month recovery period that ultimately revived the box office. The resurgence was fueled by the record-breaking performance of Inside Out 2, which not only brought Pixar back into the spotlight but also became the top-grossing animated film of all time, with over $1.667 billion in global ticket sales as of September 2. The film’s domestic earnings of $651 million also positioned it to surpass Jurassic World as the eighth highest-grossing film globally.
July continued the positive trend with several high-performing releases, including Illumination and Universal’s Despicable Me 4 ($335.6 million), Amblin and Universal’s Twisters ($259.6 million), and the long-awaited Deadpool & Wolverine, which became the first film in its franchise to cross the $1 billion mark globally. By Labor Day weekend, the Deadpool sequel had grossed $1.262 billion worldwide, including $600 million domestically.
The summer’s success was not limited to blockbuster films. Independent studios also made significant contributions, with Neon’s horror film Longlegs grossing over $74 million, becoming the biggest indie horror hit in a decade. Other standout performances included Wayfarer Studios’ It Ends With Us, which became the year’s highest-grossing non-franchise title with $135.8 million domestically and is set to surpass $300 million globally.
In terms of studio performance, Disney led the pack, with its summer films generating $1.5 billion in domestic sales, capturing about 42% of the market share. Universal also had a strong showing with three films in the top ten, while Paramount and Sony contributed with hits like A Quiet Place: Day One and It Ends with Us.
Despite the overall positive outcome, the box office remains under pressure, with year-to-date revenue still 14% behind the same period last year. However, the success of late-summer releases and the promising fall and winter lineup provide hope for continued recovery.
Analysts like Paul Dergarabedian of Comscore and Shawn Robbins of Box Office Theory emphasize the resilience of the film industry, noting that the unexpected rebound in the middle of the summer season is a testament to the unpredictability and enduring strength of theaters.
As Warner Bros. gears up to release Beetlejuice Beetlejuice with an anticipated \$80 million-plus opening, the industry looks forward to maintaining the momentum into the fall and beyond. The summer box office of 2024, despite its rocky start, ultimately reaffirmed the enduring appeal of the theatrical experience.
