2024 Box Office hits and misses: From diamonds to dust

The film industry saw significant highs and lows. Let's look at the winners and losers of this year's movie releases.

In 2024, there hasn't been much to laud about at the box office. Ticket sales have been sluggish, and there's been a noticeable lack of blockbusters, largely due to the impact of strikes and COVID, which brought movie production to a stop. A handful of movies that managed to debut in the first half of this year completely defied the odds. Although some movies (like “Argylle”)  should have avoided their cinematic debut altogether. 

Despite the high hurdles, some films succeeded in drawing large audiences. “Dune: Part Two” and “Inside Out 2” delivered performances reminiscent of classic major studio hits, whereas IFC’s “Late Night With the Devil” showed that the indie film scene remains vibrant. There were also notable comeback stories. Will Smith regained his star power with another “Bad Boys” installment, and “Garfield,” the lasagna-loving cat from 1976 truly proved that nostalgia is an ever-persisting condition, drawing in fans, old or new.

 

And now, as we reach the middle of 2024, let’s take a look at what reaped rewards and what tripped and lost its footing:

 

Winners -

"Inside Out 2"

Global box office: $800 million

Production budget: $200 million

 

As nostalgia takes its grip on watchers, Pixar returns with another film. The sequel to Pixar's "Inside Out" is a smash hit, exceeding expectations and becoming the most popular movie of 2024 so far. This success is likely due to a combination of factors including positive word-of-mouth, broad audience appeal, and the popularity that stems from the original film. Its overwhelming triumph has been a savior for struggling movie theaters and a reminder that, perhaps, we too should not forget to feel joy.

 

"Dune: Part 2"

Courtesy of Warner Bros

Global box office: $711 million
Production budget: $190 million

 

Canadian filmmaker Denis Villeneuvere’s return to the desert planet of Arrakis was a sensational hit, smoothly sailing off the hype accumulated from the trailer’s release back in 2023. “Dune: Part 2” was such an inordinate hit that it surpassed it predecessor by more than $300 million. Admittedly, comparisons are challenging since 2021's “Dune” was released when the pandemic was a major concern and premiered simultaneously on HBO Max. However, it’s noteworthy that this franchise continues to grow its audience. Given that the first two films are based on just one of a series of sci-fi novels, it’s likely Villeneuve has more sandworms in his future.

 

"Bob Marley: One Love"

Global box office: $179 million
Production budget: $70 million

 

This retelling of Bob Marley's life and career struck a chord at the box office. Paramount's decision to release the film in mid-February, a time with little competition, certainly helped. However, the ticket sales also demonstrate that musical biopics don't need to be critically acclaimed (like how“One Love” has a 45% rating on Rotten Tomatoes) as long as they feature songs that make audiences want to let loose and jam out.

 

"Late Night With the Devil"

Courtesy of IFC Films/Shudder

Global box office: $12.3 million
Production budget: N/A

 

Centered on a late-night show that disastrously chooses to have an occult-themed episode, this ultra low-budget found-footage film became an arthouse sensation. It's challenging to gauge IFC's earnings from the movie since the distributor didn’t disclose the budget, but a $12.3 million gross for an Australian horror film without any big names is remarkable. It also ranks among the most-watched movies on Shudder, the horror streaming service operated by IFC’s parent company, AMC. Any way you look at it, that's an outstanding result.

 

"The Garfield Movie"

Global box office: $230 million
Production budget: $60 million

 

Despite terrible reviews, “The Garfield Movie” was teeming with success from younger audiences. The animated film, starring Chris Pratt as the famous orange feline, benefitted from the lack of family films in theaters and brand recognition for the renowned comic. With its reasonable budget, financed and produced by Alcon Entertainment and overseas appeal, “Garfield” managed to scratch up a tidy profit. 

 

"Bad Boys: Ride or Die"

Global box office: $289 million
Production budget: $100 million

 

With nearly $300 million in earnings (and still climbing), the almost 30-year-old franchise shows no signs of slowing down. The impressive box office numbers indicate that Will Smith's fans seem to have moved past the Oscars slap incident. This likely means that Smith and his "ride or die" partner Martin Lawrence won't be retiring their badges anytime soon.

 

Losers -

"Furiosa: A Mad Max Saga"

Global box office: $168 million
Production budget: $168 million

 

George Miller’s costly return to the field resulted in a disappointing outcome. The film, which only managed to recoup its production budget, faced significant challenges due to the absence of Charlize Theron and Tom Hardy, key players in the success of “Mad Max: Fury Road.” Considering their volatile dynamic on that film, a reunion was unlikely. Unfortunately, despite their unique appeal, “Mad Max” movies lack the box office clout of top-tier franchises. Even “Fury Road,” often hailed as one of the greatest action films ever, only grossed $380.4 million, barely breaking even in theaters.

 

"IF"

Global box office: $181 million
Production budget: $110 million

 

Director John Krasinski’s family-friendly fantasy about imaginary friends has bounced back from its modest $33 million debut. In fact, "IF" has now grossed $106 million domestically and $181 million worldwide, which is impressive for an original live-action PG film. However, with a production cost of $110 million, the Paramount Pictures film needed to earn around $275 million to break even during its theatrical run. If only moviegoers could buy tickets for their IFs.

"The Fall Guy"

Global box office: $171 million
Production budget: $140 million

 

Pairing Ryan Gosling and Emily Blunt, the stars of two of last year’s biggest hits, in a summer film seemed like a surefire success. However, instead of recreating the "Barbenheimer" phenomenon, "The Fall Guy" flopped in theaters. The action-comedy about a stuntman working on his ex-girlfriend’s movie was too niche to attract a broad audience. Additionally, it was based on a forgettable 1980s TV series that few had heard about.

 

"Madame Web"

Courtesy of Marvel

Global box office: $100 million
Production budget: $80 million

 

Given Sony's inconsistent history with new Marvel characters, promotional materials and a press tour that became memes for all the wrong reasons, and some hilariously harsh reviews, it was no surprise that “Madame Web” flopped. Gone are the days when studios could easily turn obscure comic book characters into box office hits. However, “Madame Web” will be remembered for the best trailer moment that didn't make it into the movie: “[He] was in the Amazon with my mom when she was researching spiders right before she died.”

 

"Argylle"

Global box office: $96 million
Production budget: $200 million

 

As a multinational corporation, Apple excels at making phones and computers, but big-budget spy adventures are not their forte. On paper, funding a flashy film by Matthew Vaughn, the creator of “Kingsman” and “Kick-Ass,” featuring stars like Sam Rockwell, Samuel L. Jackson, and Henry Cavill, seemed like a surefire hit. In reality, something went terribly wrong. Firstly, the movie was widely disliked (the reviews were brutal). Secondly, while argyle may be a popular pattern for knitwear, it doesn't quite work as the title of a $200 million movie.

 

"The Watchers"

Global box office: $29 million
Production budget: $30 million

 

“The Watchers,” barely left an impression on critics or audiences’ minds, which likely contributed to its poor ticket sales. Horror is usually a dependable genre for theaters, but this year has been disappointing for films about the hidden horrors of the night. First-time director Ishana Night Shyamalan , who is the daughter of renowned horror filmmaker M. Night Shyamalan, has yet to inherit her father's impressive supernatural touch.