Disney's Record-Breaking Streak Ends: No Billion-Dollar Movies in 2023 Following a Blockbuster Year in 2019
Disney's box office success in 2023 falls short of the previous year's record-breaking 7 billion-dollar movies, indicating a slight decline in revenue while still maintaining a profitable streak
As 2023 comes to an end, it seems that for the first time in several years, Walt Disney Studios will not have a single movie surpass the $1 billion mark at the global box office.
Variety points out that 2023 will mark the first year since 2014 that Disney did not have a movie grossing $1 billion or more at the box office (excluding the pandemic years of 2020 and 2021). In contrast, in 2019, Disney had an impressive seven movies that achieved at least $1 billion in box office revenue.
Disney's blockbuster hit of 2023 was Guardians of the Galaxy Vol. 3, raking in over $845 million in box office sales. While this was no small feat, many analysts had predicted it would surpass $1 billion or outperform its predecessor, but it fell short of both expectations.
"Disney raised the bar impossibly high for itself in the 2010s, pulling out all the stops," stated Shawn Robbins, an analyst for Boxoffice Pro, in an interview with Variety. "The downside to achieving such massive success is that it creates an expectation for every subsequent release. The studio faced an uphill battle once the well of ideas began to run dry."
In 2023, Disney released several major films, including Indiana Jones and the Dial of Destiny, The Haunted Mansion, Ant-Man and the Wasp: Quantumania, Elemental, and The Little Mermaid. Out of these, The Marvels had the slowest start in MCU history when it premiered earlier in November. Despite their success in generating revenue, these movies have not met the same level of success as some of Disney's past releases. For example, Disney's recent animated film, Wish, had an underwhelming debut over Thanksgiving weekend.
In comparison, Avatar: The Way of Water, which was released in 2022, has made more money in the US in 2023 ($283 million) than Quantumania ($214 million), The Dial of Destiny ($174 million), and The Marvels ($76 million) combined in the US this year.
Looking ahead to 2024, Disney has a number of high-profile releases lined up, including Inside Out 2, Mufasa, Deadpool 3, and Kingdom of the Planet of the Apes.
Editor's P/S
As a Gen Z fan, I have mixed feelings about Disney's box office performance in 2023. On one hand, I am disappointed that none of their movies managed to reach the $1 billion mark, as I have come to expect great things from Disney over the years. On the other hand, I understand that it is unrealistic for Disney to maintain such a high level of success year after year, and I am still excited about the movies they have lined up for 2024.
I think it is important to remember that box office success is not the only measure of a movie's success. Many of Disney's 2023 movies, such as Turning Red and Lightyear, were critical and commercial successes despite not reaching $1 billion. I also believe that Disney should focus on making high-quality movies that tell compelling stories, rather than simply trying to make blockbusters.
Overall, I am still a big fan of Disney and I am excited to see what they have in store for us in the future.
