| Date | |
|---|---|
| Author | Mia Blakeney |
Confidence in Cinema Continues to Grow
Expert film industry analysis company Gower Street Analytics has upgraded its 2023 global box office forecast to $32bn, increasing its early global box office estimate by 10% from $29bn. If this $32bn prediction is achieved, it would mean an approximate +23% gain on 2022’s global box office revenue.
This comes after the monumental success of Nintendo and Illumination’s The Super Mario Bros. Movie, which has now surpassed $871m at the global box office after 19 days in theatres. The film has become by far the biggest film adaptation of a video game in history. Super Mario isn’t the only 2023 Hollywood title to prosper. John Wick: Chapter 4, Creed III and Scream VI have all overperformed. And this weekend, Evil Dead Rise is also off to a promising start.
Read more via Screen Daily here.
This news also comes during CinemaCon, the annual gathering of cinema owners and Hollywood studios running until 27 April in Las Vegas. Throughout the week, studios will address the ongoing box office recovery, celebrate their successes from the past year and tout their upcoming releases.
Cinema Advertising Growth
The latest Advertising Association / WARC Expenditure Report has recently been published. Although it also suggests overall slow growth for UK advertising, the data shows a positive outlook for cinema advertising. Cinema had the strongest growth of advertising mediums in 2022, with growth at 123%. The report also forecasts that cinema will continue high levels of growth in 2023, at 37.2%.
Although high inflation is expected to continue to impact UK advertising, the cost of cinema advertising has seen very little change. Over the last 10 years, a cinema Adult AGP CPT has only increased 10%, proving the medium to be great value for money for brands in 2023, and a secure and reliable avenue to target highly sought-after audiences.
With an incredible film slate including Indiana Jones and the Dial of Destiny, Disney's The Little Mermaid, Mission: Impossible Dead Reckoning Part One and Barbie, there is a lot to look forward to.
Reach out to the DCM team about opportunities available.