Disney lost its crown as the studio with the highest global box office. Universal edged out Disney in both the domestic and worldwide markets, with a global take of $4.91 billion compared to Disney’s $4.83 billion. Universal’s domestic box office added up to $1.94 billion compared to Disney’s $1.9 billion.
While the race was neck and neck, with the winner only decided in the final weeks of the year, it had long been clear that Universal was having a much better year in terms of profitability. Disney produced several big-budget films that cost more than $200 million to produce but which wound up underperforming in theatres.
On the other hand, Universal had more examples of films with lower production costs that exceeded expectations at the box office. By way of example, Disney’s THE Marvel grossed $205 million worldwide, which might seem exciting except for the fact that the studio spent an estimated $275 million to produce it. Universal’s M3GAN grossed slightly less at $180 million but was exceedingly profitable for its studio due to its slim production budget of only $12 million.
In a year when audiences soured on most sequels from long-running franchises, Universal was more successful at matching current tastes by offering moviegoers a wide variety. Its top movies in 2023 included one significant franchise film, FAST X from the FAST & THE FURIOUS series, which was only so-so in the domestic market but did well internationally.
They also offered an array of new stories such as THE SUPER MARIO BROS. MOVIE and FIVE NIGHTS AT FREDDY’S, created from the characters of classic video games, filmmaker-driven titles including Christopher Nolan’s OPPENHEIMER and Wes Anderson’s ASTEROID CITY, and horror hits M3GAN and COCAINE BEAR.