The Thanksgiving holiday has always been a pivotal time for the film industry, but this year has managed to break all prior records with an astonishing estimated gross of $422 million domestically. This surge in box office revenue, as noted by AMC Theatres CEO Adam Aron, can be referred to as a “national phenomenon” pertaining to moviegoing patterns. The numbers reflect a striking comeback for the industry, which suffered deeply during the pandemic and subsequent labor strikes. The figures are indicative of not just audience appetite but also the strategic choices made by studios in terms of film releases.
This remarkable total earned from Wednesday through Sunday has eclipsed the previous Thanksgiving box office record established in 2018, which saw $315.6 million propelled mainly by the animated feature, Ralph Breaks the Internet. The boost in sales can be attributed to various highly anticipated films. Notably, sequels like Disney’s Moana 2, Universal’s Wicked, and Paramount’s Gladiator 2 provided viewers with a diverse array of options suitable for audiences of all ages.
The ten-day box office statistics since November 22 indicate a projected haul of approximately $681.5 million. Moana 2 alone is expected to make headlines with a projected five-day opening of between $215 and $220 million—a hallmark of modern animated films that place considerable emphasis on familial appeal during the holiday season. Furthermore, Wicked has made waves, becoming the highest-grossing film inspired by a Broadway musical, boasting earnings of $263 million.
One of the key takeaways from this year’s success story is the effective employment of counterprogramming. The coordinated release of both family-friendly animations and more mature features allows a more comprehensive distribution of audience interest and engagement, something that the studios should not overlook. With all three titles—Wicked (96% audience score), Moana 2 (87%), and Gladiator 2 (83%)—scoring well on Rotten Tomatoes, it is evident that quality matters and leads to higher box office returns.
The past years have exhibited caution by the studios in planning their release schedules around potential competition. This year’s impressive turnout should act as a clarion call for executives to take informed risks, especially during peak seasons. It demonstrates that well-crafted films can coexist on the same marquee without cannibalizing each other’s profits.
Reflecting on previous years, particularly post-pandemic periods, there was a noticeable trepidation in the film industry regarding large-scale releases. For example, the Thanksgiving box office in 2021 saw relatively meager totals compared to this year. Disney’s Encanto debuted to only $40.5 million, and after the initial release of Black Panther: Wakanda Forever, another sequel, audiences hesitated to return en masse. This year, however, the landscape has shifted dramatically, and studios have finally recognized that audiences are eager to fill theaters again.
As we look toward the future, the 2024 lineup is already shaping up to be robust. With films such as Wicked: Part 2, the Edgar Wright reboot of The Running Man, and Disney’s Zootopia 2 set for release around Thanksgiving, the potential for continued success appears bright. The overarching sentiment among industry professionals should be clear: an expanded slate of films, diversified in genre and audience appeal, is the recipe for a thriving box office.
The Thanksgiving weekend of 2023 serves not only as a record-breaking event but also as a transformative period for the film industry. It highlights a growing eagerness among audiences to return to theaters, something that requires producers and studios to recognize and cultivate moving forward. The box office layoff may have served as a momentary setback, but what we’re witnessing now is a resurgence—a celebration of cinema that promises growth and excitement in the years to come. By moving forward with confidence, and a keen understanding of market dynamics, the industry can harness this momentum to ensure that future Thanksgivings are just as bright.