Independent films took a share of around 11% of the global box office in 2019, however the pandemic could see that share fall by 2% in 2020.
Three months after Indy Film Library’s initial analysis of the Indy Film segment’s performance at the box office in 2020, the situation does not seem to have improved.
Various estimates have been bandied around between 40% and 50%, but one of the most recent anticipations from research firm Statista is that revenue will be 61% lower than last year – totalling around $16.3 billion.
While this is a disaster for the studio system, however, the world’s wealthiest film companies will likely bounce back in the near future – and the same cannot necessarily be said for the independent scene. If the 10 highest grossing independent films of the year are treated as a weather vane, the broader Indy Film segment could see revenue fall by an even larger 72%.
On that basis, global independent box office revenues could drop as low as $1.4 billion by the end of 2020 – seeing Indy Film lose around 2% of its previous market share.
For more information, an in-depth article examining what our analysis might mean for the Indy Film sector has been published on business journalism site Consultancy.uk.