'Inside Out 2' first movie of 2024 to top $1 billion at global box office

"Inside Out 2" has set a new record, becoming the fastest-ever animated film to surpass $1 billion globally, achieving this milestone just 19 days after its release, reports CNN. 

"We're absolutely thrilled to have reached this phenomenal milestone in record time, and it once again proves that global audiences will come out for a great movie," said Tony Chambers, Disney's executive vice president of theatrical distribution, in a Sunday news release.

"The film's remarkable success is a testament not only to the incredible creativity of the Pixar team but an example of moviegoing at its very best," he added. 

The tremendous success of "Inside Out 2" has invigorated a sluggish 2024 box office. Before its release on 16 June, domestic sales had been trailing more than 25% behind 2023's performance, according to Comscore data.

"Over the past few weeks, we've seen the year-to-date, year-over-year domestic box office revenue deficit shrink from 27% to 19%, and that's due in large part to the amazing and much-welcome performance of 'Inside Out 2,' a film that has adjusted the mood of the movie industry in just a few short weeks," said Paul Dergarabedian, senior media analyst at Comscore.

The movie is the highest-grossing film of the year and the first to pass $1 billion since "Barbie," which was released last July. 

It also joins the ranks of eight other Disney and Pixar movies that have grossed more than $1 billion, including "The Incredibles 2," "Finding Dory," both "Frozen" movies, and the last two "Toy Story" instalments.

Daniel Loria, editorial director at Box Office Pro, which collects sales and showtime data from thousands of movie theatres across the United States, projects this year will see an overall domestic box office total between $8.1 billion and $8.4 billion, down from 2023's total of more than $9 billion, the highest since the pandemic.

However, Loria notes that it is still possible to close the gap further.

"The impact of the strike on the box office is clear in the first five months of the year, but June has shown us the crucial role movie theaters play in a film industry firing on all cylinders," he said. 

"If the movies are there, the audience will follow. I expect to see great numbers in the second half of the year, leading into 2025 and beyond. Another surprise hit or two, and we may get a lot closer to matching that $9 billion than we all expected coming into the year."