Thanksgiving Box Office Surges with Disney’s Moana 2, Universal’s Wicked, and Paramount’s Gladiator II

The U.S. and Canada box office is on track for its strongest Thanksgiving weekend since 2019.

A blockbuster trio—Disney’s (NYSE:DIS) Moana 2, Universal’s Wicked, and Paramount’s Gladiator II—is driving the recovery. Analysts project total ticket sales for the five-day holiday weekend to top $200 million, potentially rivaling 2013's $294.2 million or 2018's record $315 million haul.

Disney’s Moana 2 is expected to dominate, with opening weekend revenues estimated between $120 million and $150 million. The film follows a strong summer for Disney, which saw Inside Out 2 surpass $1 billion globally. Meanwhile, Wicked and Gladiator II, now in their second week, continue to perform robustly, rounding out a lineup with broad demographic appeal.

For theaters, this rebound represents a significant turnaround after struggling with diminished attendance in recent years. Shawn Robbins of Fandango called the lineup “a perfect storm,” noting the holiday’s importance in setting momentum for the lucrative year-end box office season.

Historically, Disney has led Thanksgiving ticket sales with animated hits like Frozen II ($125 million in 2019) and Moana($82.1 million in 2016). However, the studio stumbled post-pandemic with underwhelming performances such as Encanto($40.6 million in 2021) and Wish ($31.6 million in 2023). Moana 2, buoyed by its prequel’s streaming success, is poised to reverse that trend.

The broader implications for investors are promising. Theater chains like AMC (NYSE:AMC) and Cinemark (NYSE:CNK) could see revenue spikes, benefiting from high-profile films catering to diverse audiences. Studios are also likely to leverage holiday box office momentum for year-end reporting, framing the recovery as a return to pre-pandemic levels of profitability.

While the industry has struggled to replicate past Thanksgiving successes, this year's lineup signals a potential inflection point. With three tentpole films anchoring the weekend, studios and exhibitors alike could capitalize on strong consumer turnout to boost year-end earnings.

Investors should watch box office performance closely as a barometer for ongoing industry recovery and long-term growth prospects in entertainment.