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5 Box Office Lessons That Hollywood MUST Take From 2024 Results: Avoiding prequels to NOT having early digital premieres
The 2024 box office results highlight the need for Hollywood to avoid prequels, early digital releases, and release clashes to boost movie performance and drive future success.
Hollywood learned some valuable lessons from the highs and lows of its 2024 box office performance. While the year saw major successes like Deadpool & Wolverine, Inside Out, and more, it also witnessed a handful of disappointing duds, mostly due to the reasons listed below.
These results offer a roadmap for what the industry must avoid this year and in the future
1) Prequels Do Not Guarantee Success
One glaring takeaway from 2024 is the underperformance of prequels. Furiosa, a highly anticipated backstory to Mad Max: Fury Road, failed to hit the mark at the box office, showing that audiences aren’t necessarily eager to delve into the past experiences of their favorite characters. Mufasa: The Lion King opened to a low number as well but managed to redeem itself due to strong word of mouth and its debut during the holiday season. Hollywood must rethink this trend and focus on original stories. Sequels can also be considered to optimize profits from tried-and-tested narratives.
2) Early Digital Release Harms Theatrical Business
Another trend that hurt Hollywood last year was releasing well-performing theater offerings on digital platforms while these productions were still doing good business at the box office. Movies like Fall Guy, Fast X, and, most recently, Wicked, saw quicker-than-usual streaming transitions, which contributed to box office slowdowns.
3) Stick to the Basics
Audiences have shown time and again that they crave reassuring and uncomplicated stories. The success of Mufasa, despite its rocky start, is a testament to this. Audiences still connect with familiar stories and characters, making it clear that sometimes sticking to the basics is the safest and most effective route.
4) Lesser AI-Driven Projects
Another significant lesson is the growing disdain from both movie critics and viewers toward the use of artificial intelligence in film production. The SAG-AFTRA strike last year highlighted the concern that AI threatens jobs in the industry. Meanwhile, Zoe Saldaña, who plays Neytiri in the Avatar films, openly voiced her concerns about AI-generated films and characters being sidelined by the awards circuit. Studios should avoid cutting corners with AI and instead invest in the talents that would benefit Hollywood in the long term.
5) Avoid Clash Releases
Lastly, clashing release dates are unfavorable. The Mufasa and Sonic 3 clash turned into a mess on the internet, with both films claiming they were the top performers. This unnecessarily put the audience's attention more on the controversy than on the films themselves. While clashes are inevitable, they should be carefully planned to avoid dividing audiences.
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