Top Gun Maverick

Source: Scott Garfield/Paramount Pictures

‘Top Gun: Maverick’

The UK’s Gower Street Analytics has estimated that global box office totaled $25.9bn in 2022 – 27% up on 2021 but 35% down on the average for the last three pre-pandemic years (2017, 2018 and 2019). 

The drop-off from pre-pandemic levels cost the industry approximately $14bn at current exchange rates, the company said. 

Among individual film markets, according to Gower, China accounted for $4.33bn, 36% down on 2021 and 49% down on the pre-pandemic three-year average. That meant that China, the number one territory in 2020 and 2021, accounted for 17% of the total and slipped to second place, behind the US and Canada, with an estimated $7.5bn (according to ComScore) representing 29% of the total. 

Excluding China the rest of the international marketplace delivered around $14.1bn, said Gower, 55% up on 2021 and 29% down on the pre-pandemic average. 

Europe, the Middle East and Africa produced $7.1bn – representing 27% of the global total – 52% up on 2021 and 31% down on the pre-pandemic level. 

The region’s top territories were the UK and Ireland (with $1.2bn), France (with $1.1bn) and Germany ($0.8bn). Russia showed the biggest fall-off from pre-pandemic levels of any territory with a tally of $310m, down 43% on 2021 and 57% on pre-pandemic business. 

The Asia Pacific region (excluding China) produced $5.2bn, 49% up on 2021 and 25% down on the pre-pandemic period. Japan was the best performing individual market in the region, with an estimated total of $1.5bn being just 9.4% down on the pre-pandemic average. 

Latin America delivered just under $1.8bn – representing 7% of the global total – 87% up on 2021 and 30% down the pre-pandemic level. 

Gower Street Analytics worldwide box office chart

Source: Gower Street Analytics

As previously reported, the individual film with the highest gross during calendar 2022 was Top Gun: Maverick with $1.49bn, though late December release Avatar: The Way Of Water has just moved past that take to become the biggest performer released during the year. 

Gower recently estimated that global box office will reach $29bn in 2023.