US Markets
Thursday, December 7th, 2023 3:02 pm EDT
Key Points
- December Dominated by Warner Bros.: The conclusion of the 2023 box office season will be marked by three major releases from Warner Bros.: “Wonka,” “Aquaman and the Lost Kingdom,” and “The Color Purple.” December is historically crucial for the box office, and the performance of these films will play a significant role in determining the overall success of the month.
- Box Office Expectations and Challenges: December traditionally contributes over $1 billion in ticket sales, but the 2023 box office lags around 19% compared to 2019, standing at $8.3 billion as of December 3. Analysts are hopeful it could reach $9 billion by year-end. The recent release of Beyonce’s “Renaissance” tour film and ongoing ticket sales from other films have contributed to a positive start in December.
- Warner Bros. Releases and Challenges for “Aquaman and the Lost Kingdom”: Warner Bros. has already contributed to the 2023 box office with the billion-dollar global hit “Barbie.” The studio’s three December releases, particularly “Aquaman and the Lost Kingdom,” are anticipated to have a significant impact. The DC brand, facing challenges in recent years, is particularly worrisome, given the lackluster performance of superhero films in 2023. “Aquaman and the Lost Kingdom” faces challenges such as audience disinterest in superhero flicks, international market dynamics, and comments from James Gunn indicating a lack of connection to future DCEU projects. Another contender is Universal’s “Migration,” an original animated film, which, if well-received, could potentially become a franchise for the studio.
As the 2023 box office approaches its conclusion, Warner Bros. is set to dominate the remaining weeks with three major releases: “Wonka,” “Aquaman and the Lost Kingdom,” and “The Color Purple.” December historically plays a crucial role in the box office, with high expectations for ticket sales. Despite a lag of about 19% compared to 2019, analysts are hopeful that the 2023 box office could reach $9 billion by year-end. The recent release of Beyonce’s “Renaissance” tour film and ongoing ticket sales from other films have contributed nearly $100 million in the first three days of December.
Warner Bros. Discovery, formed by the merger of WarnerMedia and Discovery last year, has been working on cost-cutting measures and debt reduction. December releases from Warner Bros. are anticipated to play a significant role in determining the month’s box office success. “Wonka” and “Aquaman and the Lost Kingdom” are expected to open with $32-42 million each, while “The Color Purple” is set for at least a $13 million debut.
The success of “Aquaman and the Lost Kingdom” is particularly crucial, given recent lackluster performances of superhero films. The DC brand, facing challenges at the box office, has seen films like “Shazam: Fury of the Gods” and “Blue Beetle” performing below expectations. The first “Aquaman” film, released in 2018, was a major success, grossing over $1 billion globally, with significant international sales.
However, concerns arise for the sequel, as superhero films this year, including Marvel’s “The Marvels,” have not performed as well, facing lower audience interest. Additionally, comments from James Gunn, the new co-head of DC Studios, suggesting no connection between future DCEU projects and the remaining films, may impact audience engagement.
Another contender in December is Universal’s “Migration,” an animated comedy about a family of ducks, opening on the same day as “Aquaman and the Lost Kingdom.” Universal has seen success with animated films tied to existing intellectual property, and “Migration” presents a unique case as an original story. While original animated films have not reached blockbuster numbers post-pandemic, Universal’s track record and the film’s release during the holiday school breaks could contribute to its potential success.
The outcome of these December releases, particularly from Warner Bros., will play a crucial role in shaping the overall performance of the 2023 box office.
For the full original article on CNBC, please click here: https://www.cnbc.com/2023/12/07/wonka-color-purple-aquaman-box-office-crucial-for-hollywood.html
