Despite facing criticism for underwhelming post-Covid results on titles from Marvel, Pixar, and Lucasfilm, Disney has maintained its position as the leading theatrical motion picture studio. From January 1st to July 2nd, Disney has earned an impressive $3.4 billion worldwide. This breaks down to $1.35 billion domestically and $2.05 billion internationally. Surprisingly, these figures are based on just seven theatrical releases so far in 2023. While Disney has received backlash for its previous practice of releasing films simultaneously in theaters and on streaming platforms, the company has since committed to a theatrical window. This shift has allowed Disney to fully capitalize on the financial potential of the downstream model in the post-pandemic era. The decision to prioritize theatrical releases has not only benefited Disney but also concession sales for theater owners and other exhibition ancillary businesses, including Imax.
Disney’s Lead in the Global Box Office
In comparison to other major studios, Disney’s global box office earnings are significantly higher. Paramount has earned $871 million with five movies, Warner Bros. has earned $898 million with six movies, and Sony has earned $1.1 billion with 15 movies. In contrast, Disney’s earnings are 3.9 times that of Paramount, 3.8 times that of Warner Bros., and 3.1 times that of Sony. Furthermore, Disney’s earnings surpass the combined total of Paramount and Warner Bros. Universal is the closest competitor to Disney, with an estimated $2.89 billion earned from 14 titles. This success is largely attributed to Illumination’s Super Mario Bros, which has become the highest-grossing film of 2023 so far, earning $1.33 billion.
Disney’s Domination of the U.S./Canada Box Office
Not only is Disney leading globally, but it is also dominating the U.S./Canada box office. The studio has earned $1.13 billion, surpassing Universal ($589 million), Sony ($398 million), Paramount ($264 million), and Warner Bros. ($264 million). Additionally, Disney holds the top spot at the summer box office in the U.S., generating $811 million, which accounts for 44% of the near $1.9 billion season earnings from May 1st to July 2nd.
In the battle between Disney’s Marvel Studios and Warner Bros.’ DC, Marvel has come out on top. The combined earnings of the last three Marvel movies, including Black Panther: Wakanda Forever, Ant-Man and the Wasp: Quantumania, and Guardians of the Galaxy Vol. 3, reached an impressive $2.1 billion worldwide. This figure surpasses the earnings of DC’s trio of Black Adam, Shazam: Fury of the Gods, and The Flash, which earned $773 million worldwide. Guardians of the Galaxy Vol. 3 is currently the second highest-grossing movie of the year, earning $837 million, while Ant-Man and the Wasp: Quantumania’s $476 million surpasses Black Adam’s $393.2 million from last year.
Out of the top 20 highest-grossing films of the year so far, Disney holds ownership of five of them. These include Guardians of the Galaxy Vol. 3 ($837 million), Little Mermaid ($525 million), Ant-Man and the Wasp: Quantumania ($476 million), Elemental ($188 million), and Indiana Jones and the Dial of Destiny ($131 million).
Through its continued success at the box office, Disney has solidified its position as the industry leader, demonstrating its ability to deliver captivating films that resonate with audiences worldwide.