2024 in review
The state of superhero and horror movies, the Star Wars slump, and the growing influence of games on Hollywood.
Hey everyone, welcome back to The Traverse. I hope you all had a great holiday and New Year. Rather than the traditional piece today, I’m looking back at the entertainment business in 2024 through the lens of stuff I wrote/observed. If you’re a recent subscriber or new reader, hopefully you find this interesting. I’ll be back soon with my favorite movies (and other stuff) from the past year. Thanks for reading!
1. Superheroes are still big business, but not as dominant
The MCU came roaring back in 2024 with “Deadpool and Wolverine,” showing that superhero movies can still do big business. But the year also continued a trend: the “genre” simply isn’t as dominant as it once was. Sure, audiences and critics alike found the other comic-based movies last year were pretty dreadful, from “Madame Web” to “Joker 2” (though I actually kind of liked the latter??). But even so, after the last two years, there’s no denying that superhero movies aren’t quite the sure thing at the box office that they once were.
2. Hollywood needs new franchises
What could fill the void if superhero movies aren’t as reliable as they were during the 2010s? I don’t think we’ve seen the answer to that question yet, and it may not be one thing. But that’s why Hollywood needs to prioritize finding and nurturing new movie franchises (And that even goes for Disney). Some of biggest movie series of the last two decades are past their prime, from “Transformers” (no pun intended) to “Fast and Furious,” and audiences have shown that they are willing to come out to the movies for fresh IP like “Wicked.” (Related: I’d be remiss if I did not mention the Paramount-Skydance merger in this post. Check out my piece on how the Paramount movie studio fell from its peak by running its biggest franchises into the ground).
3. Horror had a good year after all. But is there too much?
Horror, another usually reliable genre at the box office, had an abysmal start to 2024. Until “A Quiet Place: Day One” in late June, the highest-grossing horror movie at that point was “Night Swim,” with $55 million worldwide. The second half of the year saw much more promise, notably with “Alien: Romulus,” “Longlegs,” “The Substance,” and most recently “Nosferatu,” which is on track to hit the $70 million mark domestically this weekend after opening on Christmas. But nearly 30 horror movies were released in 2024, more than ever before; is the genre facing over saturation?
4. Star Wars has officially lost its way
The Star Wars franchise has been on a downward spiral for years, but with “The Acolyte” (which was ultimately canceled after one season) it was finally clear that Disney should seriously consider moving on from Lucasfilm boss Kathleen Kennedy. The franchise had officially settled into a routine of mediocre TV shows that generated little buzz. And by the time “The Mandalorian and Grogu” hits theaters next year, it will be seven years between Star Wars movies, with an embarrassing number of announcements in that time that will never see the light of day.
5. The anime boom is just getting started
In early 2024, Netflix revealed that its biggest TV show of the second half of ‘23 was “One Piece,” based on the long-running manga of the same name (and it’s developing an anime remake of the series). At the time, I wrote that it wouldn’t be surprising to see Hollywood wake up to the power of manga and anime, as Netflix and Prime Video already have. And make no mistake: the anime boom is just getting started, thanks to growing interest outside Japan (Sony, which already owns the anime-focused streamer Crunchyroll, recently took another step in gaining ground in the space with an investment in Kadokawa, becoming the Japanese entertainment giant’s largest shareholder in an agreement that will see Sony adapt Kadokawa IP — which includes manga, anime, and video games — into shows and movies).
6. The growing crossover between games and Hollywood
The Kadokawa deal is also emblematic of the growing influence of the video game industry on Hollywood (Kadokawa owns FromSoftware, the developer behind the hit game “Elden Ring”). After years of duds, Hollywood has finally figured out games — but this is about much more than just adaptations. As I wrote after the release of Prime Video’s “Fallout” series: If legacy media wants to compete with streaming-first and tech companies like Netflix and Amazon, it’s become imperative to align with the gaming sector. “Fallout” wasn’t just a game adaptation; it told a new story that took place in the universe of the games. And Disney invested over a billion dollars into “Fortnite” maker Epic, with the intention to create a “persistent” virtual universe based on its IP (not for nothing: Disney has reportedly been eyeing the EA CEO as a potential Bob Iger successor, suggesting the importance gaming could be to the company’s future).
Beyond the Traverse
🎮 The New York Times with a fascinating piece on how unsustainable it is for video games to cost so much to make (sounds like the movie business!)
🕸️ The Sony Pictures CEO really had the audacity to suggest that critics reviews were the reason “Madame Web,” potentially one of the worst movies of all time, bombed.
💀 In potentially one of the most obvious and perfect casting choices ever, Jason Momoa will play Lobo in the “Supergirl” movie.
🎟️ The 2024 domestic box office hit $8.7 billion, shy of last year’s total but probably better than most expected given the strikes of ‘23.