U.S. and Canadian box office sets revenue record despite fewer moviegoers

The U.S. and Canadian box office set a historic summer revenue record, taking in $47.6 billion and edging past the $47.55 billion recorded in 2013. But the record came with a striking weakness: cinemas attracted far fewer people.

The figures from industry website Rentrak are not adjusted for inflation. Once inflation is taken into account, the 2013 summer would still rank higher. Adjusted revenue this summer also remains 17% below 2019, the last summer before the pandemic.

The North American summer season, measured from May 1 through Labor Day on Sept. 7, is the busiest period for cinemas and typically accounts for about 40% of annual box-office revenue. The New York Times said rising ticket prices “hide a deeper decline in attendance.”

From Jan. 1 through Aug. 16, North American cinemas sold 568.4 million tickets, 30% fewer than during the same period in 2019, according to S&P Global Market Intelligence. That represents roughly 248 million fewer admissions across the two years being compared.

Major franchises helped revive the box office this year, including “Spider-Man: Brand New Day” and “Toy Story 5,” along with “The Odyssey” and “The Devil Wears Prada 2.” In 2013, the leading draws included “Iron Man 3,” “Despicable Me 2” and “Man of Steel.” The industry continues to deal with the effects of the pandemic and changing viewing habits driven by streaming platforms.

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Hide a deeper decline in attendance.