Hollywood is having its best summer since the Covid-19 pandemic threatened to permanently alter moviegoing habits, with “Toy Story 5” extending the hot streak over the weekend.
The Disney-Pixar sequel was on pace to sell an estimated $312 million in tickets worldwide from Thursday through Sunday, according to Rentrak, which compiles box office data. Directed and written by Andrew Stanton and McKenna Harris, it was expected to generate $160 million in ticket sales in North America, giving it not only the biggest domestic opening of the summer so far, but the biggest of the year.
The strong No. 1 opening reflected Disney and Pixar’s deft stewardship of the 31-year-old “Toy Story” series. While not a record for the franchise when adjusting for inflation — “Toy Story 3” made about $171 million in today’s dollars on its domestic opening weekend in 2010 — it is rare for a fifth installment to perform at this level. Few animated franchises even make it to a fifth film.
“Toy Story 5” cost an estimated $250 million to make and easily another $100 million to market. Overall, reviews were sensational.
Hollywood’s summer season, which runs from May 1 to Labor Day, has historically accounted for 40 percent of annual ticket sales. So far this season, moviegoers in North America have spent about $1.85 billion on tickets, a 16 percent increase from the same period a year ago, according to Rentrak. Hollywood’s summer hasn’t gotten off to this strong of a start since 2019, when ticket sales for the same stretch totaled $1.87 billion.
For an industry struggling to maintain its relevance in the face of sweeping changes in consumer behavior and technology, any improvement matters. Only a few years ago, when the pandemic forced many theaters to close for long periods, it was an open question whether moviegoing would survive at all.
“To be only 1 percent behind the summer of 2019 is remarkable,” said Paul Dergarabedian, Rentrak’s chief analyst of marketplace trends. “The Gen Z audience — which many people thought would be lost to small screens, especially after the pandemic — has really come out in particular this summer.” Rentrak defines Generation Z as people born from 1997 to 2012, making them about 14 to 29 today.
The mix of movies matters, of course. For the first time in years, Hollywood has started to recapture the breadth that once made the summer box office a reliable engine. The pandemic and the 2023 entertainment industry strikes, which left gaps and bottlenecks in the release calendar, are no longer distorting the flow of movies to theaters.
Hollywood started its summer with a comedy, “The Devil Wears Prada 2,” which has collected a formidable $680 worldwide and is still playing. Next came the horror films “Obsession” and “Backrooms,” each with more than $300 million. A politically incorrect horror comedy, “Scary Movie,” has so far delivered a healthy $202 million. Steven Spielberg’s “Disclosure Day,” a science fiction mystery aimed at older moviegoers, has chipped in another $160 million since its release on June 12.
“Michael,” the Michael Jackson biopic, also swelled Hollywood’s summer coffers. It arrived on April 24, but has sold $715 million in tickets worldwide since May 1 and $960 million since its debut. And while a misfire by the standards of the “Star Wars” franchise, “Star Wars: The Mandalorian and Grogu” added another $172 million.
Several would-be behemoths are still to come. They include “Minions & Monsters” from Illumination on July 1, “The Odyssey” from Christopher Nolan on July 17 and “Spider-Man: Brand New Day” from Sony Pictures on July 31.
Less-certain bets include “Supergirl,” which arrives from Warner Bros. on Friday. Movies centered on lesser-known superheroes have not fared well in recent years. Disney’s live-action “Moana,” which arrives July 10 and stars Dwayne Johnson, is another question mark. Mr. Johnson, a highly bankable star in the 2010s, has cooled as a box office force.
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