Worrying signals for the global film industry

In a report released on the sidelines of the 2025 Cannes International Film Festival, the European Audiovisual Observatory (EAO) delivered a worrying signal for the global film industry: ticket sales at cinemas worldwide fell 8.8% in 2024 compared to the previous year, marking the first decline since the COVID-19 pandemic.

At a press conference on the sidelines of the 2025 Cannes Film Festival, film analyst Martin Kanzler said: “A total of 4.8 billion tickets will be sold globally in 2024, bringing in about 28 billion euros (more than 31 billion USD) in revenue, a decrease of about 500 million tickets compared to 2023.”

After the historic shock of 2020 when theaters closed en masse due to restrictions to prevent the COVID-19 epidemic, the global film industry has gradually recovered.

However, statistics show that the number of viewers at cinemas in 2024 will only reach 68% compared to 2019 and slightly decrease compared to over 70% in 2023.

“Perhaps this is the new normal” for the film industry, Mr. Kanzler said.

In a slowing global picture, Europe is a rare bright spot, with ticket sales falling just 1.7% in 2024 and reaching 75% of pre-COVID-19 levels. France and Ireland in particular stand out for their high density of screens and high average attendance per capita.

In stark contrast, China - the world's largest cinema market with 21% of the global market share - saw cinema attendance fall by 22%, raising concerns about a prolonged downturn in the once-booming market.

According to EAO analyst Manuel Fioroni, 81% of all films produced globally come from three countries: the US, China and India. Of these, only US films have the ability to truly “cross borders” thanks to their global distribution networks and large international audiences.

“Hollywood films remain the rare exception that can easily reach beyond mainland regions thanks to both the global system and global tastes,” Mr. Fioroni emphasized.

In 2024, 63% of European audiences went to the cinema to see American films, showing the overwhelming influence of the country's film industry.

Meanwhile, European cinema itself is also thriving, with a market share of 33% - a four-year high. Even excluding the turbulent 2020, this is the best result for European cinema in a decade.

Of the 20 highest-grossing films in European cinemas in 2024, 18 were from the United States. Leading the pack were blockbusters like “Inside Out 2,” “Despicable Me 4,” and “Deadpool & Wolverine.”

Two European faces are on the "golden list" of French cinema: " Un p'tit truc en plus" and "Le comte de Monte-Cristo" ./.

(Vietnam News Agency/Vietnam+)

Source: https://www.vietnamplus.vn/tin-hieu-dang-lo-ngai-cho-nganh-dien-anh-toan-cau-post1039088.vnp