“Inside Out 2” crossed $1 billion in worldwide box office sales this weekend, making it the first movie of the year to reach the milestone. Why it matters: It’s the fastest animated picture to gross $1 billion — reaching the marker in 19 days, according to Disney. Previous record holder “Frozen 2” achieved the threshold in 25 days. The big picture: Only 11 animated films have ever surpassed $1 billion, with Disney and Pixar combined behind eight of those titles. “Inside Out 2” also hands a much-needed win for Disney’s Pixar group, which has struggled in box office sales since moving more of its films onto streaming, CNBC notes. The intrigue: The sequel to the 2015 hit “Inside Out” explored themes that had mass appeal, including struggling with anxiety. The film originally explored nine new emotions, but some — like shame, guilt and suspicion — were cut to simplify the story.
Just under 20 days after its release, Disney and Pixar’s “Inside Out 2” has exceeded records, becoming the fastest animated film to reach $1 billion worldwide, achieving this significant box office milestone over the weekend.
The remarkable box office performance of “Inside Out 2” underscores its popularity and sets a new standard for animated features in 2024. The film’s success follows closely behind the global hit movie “Barbie,” highlighting a strong year for the film industry.
In a news release on Sunday, Tony Chambers, Disney’s executive vice president of theatrical distribution, said, “We’re absolutely thrilled to have reached this phenomenal milestone in record time, and it once again proves that global audiences will come out for a great movie. The film’s remarkable success is a testament not only to the incredible creativity of the Pixar team but an example of moviegoing at its very best.”
The release of “Inside Out 2” on June 16 has given life to a slow 2024 box office. Comscore data reported that before the movie’s debut, domestic sales were trailing 2023 figures by over 25%. This animated film’s impressive performance has significantly boosted overall box office numbers.
Senior media analyst at Comscore, Paul Dergarabedian, said, “Over the past few weeks, we’ve seen the year-to-date, year-over-year domestic box office revenue deficit shrink from 27% to 19% and that’s due in large part to the amazing and much welcome performance of ‘Inside Out 2,’ a film that has adjusted the mood of the movie industry in just a few short weeks.”
The movie, which follows Riley in her teenage years as she encounters new emotions, has drawn a significant number of teenagers back to cinemas, with 14% of its audience comprised of 13 to 17-year-olds. This age group, which has been largely absent from cinemas in recent years, has played a key role in the movie’s impressive success.
It has been a prevalent mission for studios and movie theatre operators to get teens in particular back into their moviegoing habits.
Box Office Pro’s editorial director, Daniel Loria, anticipates a decline in the U.S. domestic box office revenue for this year. Based on extensive sales and showtime data from numerous theaters nationwide, Loria forecasts the total earnings to range from $8.1 billion to $8.4 billion. This prediction represents a drop from the over $9 billion generated in 2023, which marked the highest annual revenue since the pandemic began.
However, Loria emphasized that there is still a way to go.
“The impact of the strike on the box office is clear in the first five months of the year, but June has shown us the crucial role movie theaters play in a film industry firing on all cylinders,” he stated. “If the movies are there, the audience will follow. I expect to see great numbers in the second half of the year, leading into 2025 and beyond. Another surprise hit or two, and we may get a lot closer to matching that $9 billion than we all expected coming into the year.”
NEW YORK — Weekend No. 2 was just as joyous for “Inside Out 2.” The Pixar sequel collected $100 million in ticket sales in its second weekend, according to studio estimates Sunday, setting a new theatrical record for an animated movie in its follow-up frame. The previous best second weekend for an animated title was the $92 million for “The Super Mario Bros. Movie.” Only six movies ever have had better second weekends. In just a week and a half, “Inside Out 2” has become 2024’s highest-grossing film to date with $724.4 million globally, including $355.2 million in U.S. and Canadian theaters. That passes the $711.8 million worldwide total of “Dune: Part Two.” “Inside Out 2” will likely blow through the $1 billion mark in about a week, which would make it the first film since “Barbie” to do so. The extent of the “Inside Out 2” success startled Hollywood, which had grown accustomed to lower expectations as the film industry watched ticket sales this year slump about 40% below pre-pandemic totals, according to data firm Comscore, before “Inside Out 2” came along. The record haul for “Inside Out 2,” though, recalled past years when $1 billion grosses were more commonplace for the Walt Disney Co. It is also a much-needed blockbuster for Pixar, which after experimenting with direct-to-streaming releases, reconsidered its movie pipeline and approach to mass-audience appeal. Now, “Inside Out 2,” which dipped a mere 35% from its $154 million domestic debut, is poised to challenge “The Incredibles 2” ($1.2 billion) for the all-time top grossing Pixar release. It could also steer the venerated animation factory toward more sequels. Among its upcoming films is “Toy Story 5,” due out in 2026. For theater owners, “Inside Out 2” could hardly have been more needed. But it also reminded exhibitors of how feast-or-famine the movie business has become in recent years. Since the pandemic, movies like “Barbie,” “Spider-Man: No Way Home” and “Top Gun: Maverick” have pushed ticket sales to record heights, but fallow periods between box office sensations have grown longer. Ticket sales over Memorial Day last month were the worst in three decades. Some of 2024’s downturn can be attributed to release-schedule juggling caused by last year’s writers’ and actors’ strikes. The biggest new release over the weekend was Jeff Nichols’ motorcycle gang drama “The Bikeriders,” a film originally slated to open in 2023 before the actors’ strike prompted its postponement. “The Bikeriders,” starring Jodie Comer, Austin Butler and Tom Hardy, came in on the high side of expectations with $10 million from 2,642 venues in its opening weekend, good for third place. The movie, which cost about $35 million to produce, was originally to be released by Disney before New Regency took it to Focus Features last fall. The strong business for “Inside Out 2” appeared to raise ticket sales generally. Sony Pictures’ “Bad Boys: Ride or Die” held well in its third week of release, collecting $18.8 million. It remained in second place. The “Bad Boys” sequel, starring Will Smith and Martin Lawrence, has grossed $146.9 million domestically thus far. It was also a healthy weekend for indie films. Magnolia Pictures’ “Thelma,” starring June Squibb, grossed $2.2 million on 1,280 screens, while Searchlight Pictures’ “Kinds of Kindness,” directed by Yorgos Lanthimos, earned the year’s highest per screen average and best overall limited opening with a $350,000 take at five theaters in Los Angeles and New York. Next week, the sci-fi horror prequel “A Quiet Place: Day One” and Kevin Costner’s western epic “Horizon: An American Saga — Chapter 1” will hope some of the “Inside Out 2” success rubs off on them. Estimated ticket sales are for Friday through Sunday at U.S. and Canadian theaters, according to Comscore. Final domestic figures will be released Monday.
Source: Disney, Pixar, Comscore, CNBC
