Global Box Office to Grow by 27% During First Quarter of 2023, UNIC Reports

The global box office jumped by 27% in the first quarter of 2023, according to a new report by the International Union of Cinemas released during the CineEurope exhibition conference in Barcelona.

UNIC, which covers 43,000 screens across 39 territories, is predicting a 23-percent growth at the global B.O. over the course of 2023.

Europe, the Middle East and Africa (EMEA) saw the largest spike in B.O., with a 32-percent year-on increase during the first quarter of the year.

Several European and international titles managed to break box office records between 2022 and the first half of 2023; for instance, James Cameron’s “Avatar: The Way of Water” became the highest grossing film of all time in the EMEA region with almost $800 million at the B.O., while Ruben Östlund’s Palme d’Or-winning “Triangle of Sadness” grossed over $25 million from 40 international markets.

The study also highlighted that younger age groups are steadily returning to cinemas, while the average ticket price rose by 4% in Europe from 2021, driven by the growing popularity of premium large formats.

The upward trend in B.O. was already visible in 2022, when admissions in Europe and the U.K. skyrocketed by an estimated 62.7% with more than 655 million tickets sold and revenues exceeding €5 billion.

Across all UNIC territories, 820.9 million tickets were sold, amounting to an estimated €5.8 billion in revenue. The top five territories in terms of admissions in 2022 were France (with 152 million), followed by the U.K. (117.3 million), Germany (78 million), Spain (61.2 million) and Italy (44.5 million), according to the report. UNIC also revealed the top five markets boasting the strongest market share for local films in 2022, which was led by Turkey (46%), followed by France (41.1%), Czech Republic (33.5%), Germany (27%) and Denmark (26%).

“All of the data set out in the UNIC Annual Report for 2022 confirms what we already knew — that audiences love the Big Screen,” said UNIC president Phil Clapp, who also heads the U.K. Cinema Association. “It’s no surprise therefore that studios and major distributors have re-affirmed their trust in and commitment to exclusive theatrical releases, recognizing cinemas as the prime venues for experiencing the magic of cinema.”

While the volume of new releases is getting close to pre-pandemic levels, UNIC said theaters still need “a more constant flow of diverse films,” and cited the “increased cost of operations” as well as the “competition with streamers” as some of the pressing challenges.

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