The Thanksgiving weekend has always held a special place in the hearts of cinephiles and families alike, serving as a high-stakes battleground for studios wanting to capitalize on the holiday spirit. This year, the domestic box office is on the brink of a significant resurgence following the setbacks of the pandemic. Thanks to a potent combination of releases, including Disney’s much-anticipated “Moana 2,” Universal’s musical film “Wicked,” and Paramount’s historical spectacle “Gladiator II,” industry analysts predict a remarkable turnout in ticket sales this upcoming holiday weekend.
The Thanksgiving box office is poised to generate between $200 million and $300 million in ticket sales, a milestone not seen since before the pandemic disrupted the film industry. These three major films are expected to lead the charge, attracting various demographics and ensuring that theaters are filled with audiences eager for entertainment. According to Shawn Robbins from Fandango, this collective influence of “Moana 2,” “Wicked,” and “Gladiator II” creates a “perfect storm” for theaters this Thanksgiving, effectively reinvigorating the box office landscape.
Historically, Thanksgiving has been a lucrative time for studios, often showcasing family-friendly films and crowd-pleasers. This year marks an uplifting shift in that direction, as studios attempt to revive the spirit of blockbuster releases that defined the holiday before COVID-19. The inability to present major releases with universal appeal during the pandemic era has posed a significant challenge for studios. However, the delightful combination of animated adventures, enchanting musicals, and grand historical narratives in 2023 promises to turn that tide.
The last time the Thanksgiving weekend crossed the $200 million threshold was in 2019. Since then, the industry has grappled with the resurgence of streaming services and fluctuating theatrical attendance. The most profitable Thanksgiving weekend on record was in 2018, when films like “Ralph Breaks the Internet,” “Creed II,” and “Fantastic Beasts: The Crimes of Grindelwald” collectively amassed a whopping $315 million. The expectation is that this year may similarly invigorate box office revenue—an essential indicator of industry health heading into the year’s end. It remains to be seen if the combined strength of these new releases can eclipse the records set several years back.
Paul Dergarabedian, a senior media analyst at Comscore, emphasizes the significance of Thanksgiving, declaring it “the most important holiday period of the year for movie theaters.” The performance of films during this critical time can set the tone for the year’s final weeks, influencing the industry’s annual revenue report. With the stakes considerably high, all eyes will be on how these films perform, providing essential insights into the overall health of the film industry.
Disney’s Quest for Renewed Glory
Disney’s contribution to the Thanksgiving box office is significant, with previous animated films bringing considerable numbers over the holiday. However, recent releases, such as “Encanto” and the lackluster performance of “Strange World,” have raised concerns about Disney’s dominance in the animated film market. “Moana 2,” arriving in theaters a year after its predecessor garnered critical acclaim as one of the top-streamed films for children, has high expectations hanging on its shoulders. Analysts believe “Moana 2” has the ability to break through the shadows of previous post-pandemic releases and revive Disney’s standing in animated filmmaking.
The anticipation surrounding “Moana 2” stems not just from its predecessor’s achievements, but also from the audience’s willingness to return to theaters in large numbers as seen with summer releases. “Inside Out 2,” for instance, opened with impressive figures, reflecting a renewed appetite for cinematic experiences in theaters post-pandemic.
A New Chapter for Cinematic Experiences
As we approach Thanksgiving, the film industry is undoubtedly undergoing a transformative phase. With families returning to cinemas and studios strategizing to bring crowd-pleasing films to theaters, there is a palpable sense of excitement in the air. The performance of these new releases will provide critical insights into audience preferences and the overall outlook for the industry as it pushes towards 2024.
The convergence of “Moana 2,” “Wicked,” and “Gladiator II” this Thanksgiving could signify a turning point for the box office. As audiences gear up for a weekend of cinematic escapism, the hope is that this collective powerhouse of films can not only meet but exceed expectations, creating a new benchmark for future holiday releases. The sentiment is clear; the box office is ready for a resurgence, and the upcoming Thanksgiving weekend might just be the catalyst for a vibrant return to cinema.