For the first time, China distinguished North America as the world’s top film market. Yet none of the countries were spared global box office revenue, more than 72 percent likely, including 70 percent of the Middle Kingdom.
It’s official: North American box office revenue declined 80 percent in 2020 amid the novel coronavirus epidemic and unprecedented theater closures, while global revenues exceeded 70 percent.
As estimated, domestic movie tickets sold between December 31 and January 1 generated an estimated $ 2.3 billion (or $ 2.68 billion), compared to $ 11.4 billion in 2019, according to ComScore’s estimates. It is the lowest showing in at least 40 years. A dramatic decline was expected, noting that many theaters received the U.S. Has been closed for more than nine months.
Globally, 2020 movie ticket sales are expected to be between $ 11.5 billion and $ 12 billion, compared to $ 42.5 billion in 2019.
For the first time, China distinguished North America as the world’s film market in 2020, producing an estimated $ 2.7 billion in ticket sales per Comorcore.
In another first, a Chinese film – the World War II epic The Eat Hund – topped the worldwide box office charts with $ 440 million. Many other Chinese films, including My People, My Homeland, peaked the chart’s upper reaches, as did Japan’s hit Damian Slayer. In non-pandemic times, Hollywood blockbusters generally dominate.
However, no country was spared the effects of the virus. The China box office was still around $ 9 billion less than 70 percent of 2019, while it overturned more quickly than in most of the US and Europe.
Hollywood’s biggest global grosser in 2020 was Sony’s Bad Boys for Life, which opened in mid-January with a gross of $ 413 million according to Comscore. Sam Mendes’ 1917, which debuted nationwide on January 10, grossed nearly $ 385 million. Christopher Nolan’s theory – the first Hollywood tempoal to open on the big screen amid the epidemic – made its way to an estimated $ 362 million globally after its launch in late summer.
The vast majority of Hollywood’s 2020 tempoals were delayed by 2021 and beyond, or sent/sold to streamers – Hollywood’s next major frontier.
COVID-19 marked a moment of a replay once for both the studio and the exhibitors.
WarnerMedia, whose empire includes Warner Bros., is opening its 2021 films Day and Date in HBO Max and theaters, as did Wonder Woman 1984 at Christmas. And Universal signed a landmark deal with major theater chains, which would make their titles available on premium VODs for 17 days or more after opening in theaters.
Paul Jargbedian of ComScore says, “The movie business will be changed forever, but movie theaters will be ready for their closeup and as things slowly return to normal, they will be in the next sequel of their respective sequels. Will return to the episode. ” “2021 will arguably be the most important year in the history of the big screen, and one that will bridge the gap between the disastrous 2020 that tragically affects so many people and so many brick and mortar businesses.”