Worldwide Box Office Projected To Reach $22B In 2021: Analysts

Mumbai, October 26 - The global box office has witnessed a sharp jump in the second half of 2021, especially from October onwards. Gower Street Analytics, which projected the worldwide box office at $20.2 billion in mid-September, has now revised its projection to be up by over $1 billion to $21.6B in 2021.

The revised global box office projection came after the solid response to October titles including MGM/Eon/Universal's James Bond "No Time To Die" ($525M), Sony/Marvel's "Venom: Let There Be Carnage" ($352M), Warner Bros/Legendary's "Dune" ($223M), and China's "The Battle At Lake Changjin" ($830M). Gower Street further anticipates potential growth and that could take the global box office to around $22B in 2021.

Gower Street's $21.6B projection for the year 2021 is up by 80% from the pandemic hit 2020 but still is 49% behind 2019's global box office tally. The latest estimates, however, narrowed the gap from a previous projection of -52%.

The box office projection for the month of October has been increased to $3.2 billion from an original estimate of $2.5 billion. This would put October business just 4% behind the average of the three pre-pandemic years (2017-2019) for the month. No previous month in 2021 has performed better than 40% behind the three-year average.

Gower Street has projected China to contribute most with a 34% projection in 2021 while, overall, Asia Pacific (APAC) is projected to contribute 52% in the global box office. Domestic (North America) is projected to contribute 22% of the worldwide box office. Europe, Middle East, and Africa (EMEA) are projected to finish with 22% while the Latin American box office is projected to contribute 5% of the total box office.

This is the final estimate Gower Street plans to publish for 2021 before actuals are announced in early January.

Stay tuned...