There is growing attention on the global box office rankings for 2024.
This year, sequels dominated the global box office, with the top 10 highest-grossing films all being sequels.
According to the movie box office statistics website Box Office Mojo on the 5th, the highest-grossing movie of the year is 'Inside Out 2,' which earned approximately $1.69 billion (about 2.4 trillion KRW). It was followed by 'Deadpool and Wolverine,' 'Despicable Me 4,' and 'Dune: Part 2.' Notably, 'Moana 2' made an impressive debut in the top 10 shortly after its release and broke the record for the highest-grossing Thanksgiving weekend, surpassing 'Frozen 2.'
Ranked from 5th to 10th were 'Godzilla x Kong: New Empire,' 'Kung Fu Panda 4,' 'Venom: Last Dance,' 'Beetlejuice Beetlejuice,' and 'Bad Boys: Ride or Die.' This year, the movie market has been completely dominated by sequels.
It is rare to see a situation where all the top 10 spots are occupied by sequels. In 2022, 8 of the top 10 films were sequels, but this year, the number has surpassed that, setting an unprecedented record. Experts analyze that the production environment during the COVID-19 period influenced this outcome. During that time, due to high investment uncertainty, production companies opted for sequels of already proven works to ensure stability.
Bob Iger, CEO of The Walt Disney Company, explained in May that "sequels are familiar to audiences and can help reduce marketing costs." He further stated, "Sequels can still tell valuable stories," and revealed that they plan to continue making sequels in the future.
However, criticism about a lack of creativity continues. George Lucas, the creator of the Star Wars franchise, pointed out at the Cannes Film Festival that "movies these days are just repeating old stories."
In Korea, the sequel craze continues as well. This year, 7 of the top 10 films in the Korean box office were sequels or prequels. Only three original works, such as The Grave, Pilot, and Escape, made the list. Following the audience's demand for familiar enjoyment, sequels have become a key trend in the domestic film market.
Meanwhile, re-releases of past hit films are also active. The 25th anniversary re-release of The Matrix is scheduled for the 11th, and the 20th anniversary re-release of Eternal Sunshine of the Spotless Mind will be on the 18th. Early next year, the 30th anniversary screening of Love Letter is also planned.
Kim Hyung-ho, a film market analyst, stated to Chosun Ilbo, "The success of sequel films is the result of aligning the interests of audiences and producers," and emphasized, "Discovering new series or original works is crucial for the sustainability of the film industry."
While sequels have dominated the box office this year, concerns about the lack of original works and dependence on past films have emerged as key challenges that the film industry needs to address.
2024 Global Box Office Ranking
1st: Inside Out 2
2nd: Deadpool and Wolverine
3rd: Despicable Me 4
4th: Dune: Part 2
5th: Godzilla x Kong: New Empire
6th: Kung Fu Panda 4
7th: Venom: Last Dance
8th: Beetlejuice Beetlejuice
9th: Moana 2
10th: Bad Boys: Ride or Die
