The two big industry stories of the Summer have had countervailing effects on the theatrical market since our last update. The monster combined performance of Barbie, Sound of Freedom and Oppenheimer has boosted the prospects for the year as a whole substantially and made July the best month for the theatrical market since the pandemic. Unfortunately, the strikes are already having a negative impact on the release schedule, and could set back the industry significantly if they continue for much longer.
The good news has slightly outweighed the bad so far, with our model’s prediction for 2023 increasing by $300 million to $9.5 billion as of July 31, even though we’re counting four fewer wide releases than our last update on July 7.
Subscribe to our Bankability and Box Office report for an extended version of this report, delivered up to two weeks before we publish updates online, or read on for an overview of how our model thinks the rest of 2023 will shape up in movie theaters…
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