Disney lacked a billion-dollar movie in 2023, a departure from the seven achieved in 2019

Despite continuing to rake in significant profits, Disney’s cinematic ventures in 2023 appear to fall short of the unprecedented successes the studio enjoyed in previous years. As the year draws to a close, it marks the first time since 2014—excluding the pandemic-affected years of 2020 and 2021—that Walt Disney Studios won’t see any of its movies cross the coveted $1 billion threshold at the global box office.

A stark contrast to the banner year of 2019, during which Disney boasted an astonishing seven films that grossed at least $1 billion, the studio’s 2023 performance signals a departure from its historic dominance. Guardians of the Galaxy Vol. 3, while still a significant financial success, exemplifies this shift. The film garnered over $845 million worldwide, a substantial figure by most standards, but it failed to meet some analysts’ expectations of surpassing $1 billion or outperforming its predecessor.

According to Shawn Robbins, an analyst from Boxoffice Pro, Disney’s remarkable achievements in the 2010s set an ambitious standard that inevitably poses challenges when the well of success begins to run dry. “The downside to success is that it becomes expected every time. The studio was always going to be in a challenged position when the well started to run dry,” remarks Robbins.

Other notable Disney releases in 2023, including Indiana Jones and the Dial of Destiny, The Haunted Mansion, Ant-Man and the Wasp: Quantumania, Elemental, and The Little Mermaid, collectively generated substantial revenue. However, by Disney’s own benchmarks, they haven’t achieved the same level of success as some of the company’s earlier releases.

Adding to Disney’s 2023 narrative, The Marvels, a significant installment in the Marvel Cinematic Universe (MCU), experienced a notably sluggish start upon its November debut. In contrast, Disney’s newest animated film, Wish, opened to soft numbers over the Thanksgiving weekend.

To provide further context, Avatar: The Way of Water, a Disney release at the end of 2022, has outperformed some of the 2023 films in the US alone. It earned $283 million in the US in 2023, surpassing the total US earnings of Quantumania ($214 million), The Dial of Destiny ($174 million), and The Marvels ($76 million) combined for the year.

Despite the challenges faced in 2023, Disney looks ahead to 2024 with a roster of highly anticipated releases. Among them are Inside Out 2, Mufasa, Deadpool 3, and Kingdom of the Planet of the Apes. These upcoming titles, coupled with Disney’s enduring reputation for creating blockbuster hits, leave room for optimism amid the evolving landscape of the film industry.

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