Brazil’s Theatrical Market Gradually Recovers, but Still Way Below 2019

After plunging during the pandemic, Brazil's theatrical market has been recovering since 2021, but the pace of the recovery has been hampered this year by 2023's Hollywood double strike.

Total ticket sales in the country sharply decreased from 173 million in 2019 to just 39 million in 2020, according to Brazil's cinema agency Ancine. Sales then increased significantly year by year and reached 114 million in 2023, giving the impression that a full recovery to the pre-pandemic level was soon to be achieved.

But the lack of a regular offer of U.S. blockbusters, a reflection of the Hollywood double strike, slowed the growth pace. Total ticket sales amounted to 91 million from Jan. to Sept. 25 this year, up just 1.6% from the same period in 2023. Accumulated B.O. in the period totalled 1.8 billion reais ($331 million), up just 1.1% from last year.

"The suspension of productions, closure of cinemas and calendar changes due to the pandemic led the market to reassess its position when it reopened and to reinvent itself to regain the Brazilian public. This continues to be a challenge, but it is possible to see an interesting process of recovery. We are very optimistic about the future of our industry in Brazil," Hernan Viviano, VP Latam, Warner and Universal, told Variety.

"As for the strike last year, some productions were delayed, but we have a set of highly-waited releases and a competitive programming for the next months," he added.

The studio will present in Expocine 2024 a series of features, such as Pedro Almodovar's "The Room Next Door," "Red One," Bong Joon-ho's "Mickey 17," "How to Train Your Dragon," Michael Jackson's biopic "Michael," and the 11th and last pic of the "The Fast and the Furious" series.

Marcelo Lima,CEO of Tonks, the organizer of Expocine, believes it will take two to three years until the influx of U.S. blockbusters is back to its usual level and Brazilian market fully recovers.

According to him, the big release this week in Brazil is Warner's' "Joker: Folie à Deux," which is helmed by Todd Phillips and stars Joaquin Phoenix and Lady Gaga. Sony will release Oct. 24 "Venom: The Last Dance," with Tom Hardy.

For November, three features can potentially draw large crowds of moviegoers to cinemas in Brazil, in Lima's assessment. Imagem will open Nov. 7 Brazilian animation "Noah's Arc." Paramount will bow Nov. 14 Ridley Scott's "Gladiator 2." On Nov. 28 Disney animation "Moana 2" hits theaters.

As for December, at the beginning of Brazil's summer vacations, Disney will release Dec. 19 "Mufasa: The Lion King," a photo-realistically animated film. Lima also expects Brazilian feature "A Dog's Will 2" ("O Auto da Compadecida 2") a H2O release on Dec. 25,to have a strong performance at the end of year and in January 2025.

Lima refutes the perception of some analysts that the streaming is having a negative impact on the theatrical market in Brazil.

"Streaming does not compete with theaters, and neither broadcasters, HVS, DVD, blu-ray and pay-TV do. Our weakness here in Brazil and in South America as a whole is the high dependence on U.S. content, and we are experiencing now a lack of blockbusters," he said.

"But I believe the theatrical market will grow in Brazil and worldwide. Theatrical will continue to be the noblest window, able to add value to intellectual properties, and it will continue to be very profitable."