Spider-Man: Brand New Day and the $3 billion comeback  — why gen Z is finally going back to the cinema

When he’s not swinging between New York skyscrapers, Tom Holland’s Spider-Man is catching a cohort in his web that conventional wisdom said was impossible to lure into a cinema.

The immense appeal of the Friendly Neighbourhood Spider-Man’s latest big-screen outing, Brand New Day, especially among younger audiences, is fuelling a commercial bonanza for the movie business.

After years of industry optimism about potential post-COVID rebounds that failed to fully materialise, the global cinema box office is finally delivering on that promise.

This revival is being led by Brand New Day, which, at the time of publication, had stormed into the top five highest-grossing films in history with a box office return in excess of $3.25 billion.

Closer to home, Brand New Day had the biggest opening weekend since Avengers: Endgame in 2019, set box office records for an opening Saturday and Sunday and was the biggest opening ever for Sony Pictures Releasing Australia.

Thanks to Brand New Day, this past month was the highest-grossing August in Australian cinema history.

No wonder the studio’s Australian managing director and executive vice-president, Stephen Basil-Jones, is grinning ear to ear.

“It’s kind of a pinch-me moment,” Mr Basil-Jones admits.

“I’ve been around this business for over 30 years, and with Spider-Man it feels like it’s my first week. I’m so excited that I’m like the kid in the candy store again.

“The thing about this film, and which makes it so potent, is that there’s not one region and one country, from Bolivia to New Zealand to Uruguay, that hasn’t hit it out of the park, and that’s giving us confidence about how high (the box office) can go.”

In addition to Brand New Day, the global box office has benefited from a $2.2 billion bow (and counting) from Christopher Nolan’s period epic, The Odyssey; $1.6 billion from Toy Story 5; $1.4 billion from the Michael Jackson biopic; and $1.2 billion combined from low-budget Gen Z viral horror flicks Obsession and Backrooms.

The Super Mario Galaxy Movie topped $1 billion, and Project Hail Mary and The Devil Wears Prada 2 were both just a few million dollars shy of accomplishing the feat, too.

Adding all this up and considering the slate of films still to come, industry analysts are projecting this will be the strongest year at the box office since 2019, when audiences drove revenue to $59.3 billion globally.

EVT general manager of film entertainment Claire Gandy says this year’s box office rebound reinforces something the industry has always known: good movies put bums on seats.

“And when audiences visit for an incredible film, they’re also reminded of what makes the theatrical experience special,” Ms Gandy says.

“We saw this when audiences turned out for blockbuster titles with strong storylines like Michael and The Devil Wears Prada 2. Once audiences are actively visiting cinemas again, they’re often more willing to explore different genres, stories and filmmakers, such as Obsession and Backrooms, which benefits the entire ecosystem.

“That’s why films like Spider-Man and The Odyssey are so valuable. They bring people through the doors, create excitement around moviegoing and help build momentum for the wider slate.”

Hoyts customer engagement general manager Bradley Eaton agrees.

“For us, these movies reinforce the important role cinema continues to play. When audiences are given compelling movies and an exceptional big-screen experience, they show up in significant numbers,” he says.

“The appetite is clearly there, and we’re seeing audiences embrace the opportunity to experience these major blockbuster releases together, on the big screen, as they were intended.”

The trickle-down effects of Brand New Day’s success are also being felt far from the big-city multiplexes.

“This is a turnaround moment for little independents out in the country to really make hay,” Mr Basil-Jones says.

“We had the most gratifying notes from little mum-and-pop cinemas, be they in Busselton, Bendigo or wherever, that said, ‘Oh, we were not sure how to control the crowds last Thursday and Friday, which are usually our very quiet days’.”

Beyond the sheer volume of punters flocking to cinemas this year, the demographic breakdown has been fascinating.

“Those 20 to 30-somethings that we were really struggling with are coming back (to the cinema),” Mr Basil-Jones acknowledges.

“They’re leaving the TVs, the streaming platforms, and coming out and really having a good time together.”

The communal experience phenomenon has been growing ever since A Minecraft Movie last year produced viral videos online of audiences going bonkers during screenings.

There’s no doubt social media has played a key role in bringing gen Z patrons through the door in droves.

This has been apparent in Brand New Day sessions, but the industry was acutely aware of it as the impetus behind the runaway success of Backrooms and Obsession, films from gen Z directors who both cut their teeth as popular YouTubers.

“Online communities and word-of-mouth can generate real change in the cinema industry,” Mr Eaton says.

“Both films came from creators who built audiences through social media platforms like YouTube, giving them an established community of fans and followers before their work reached the big screen.

“For the broader industry, it has highlighted that there are multiple pathways to build an audience for a film.”

The numbers don’t lie.

“Our own data backs up what we’re seeing nationally: nearly half the Backrooms audience at Event Cinemas was gen Z, and two-thirds of Cinebuzz members who saw Obsession were under 30,” Ms Gandy reveals.

“Gen Z isn’t disengaged from cinema, they’re discerning, and they respond to content with real cultural roots, whether that’s a web series turned cultural phenomenon like Backrooms or a piece of adult drama with something genuine to say like Obsession.

“Good films bring big crowds, from any generation. For the industry to reach gen Z audiences, it’s about making sure the format and the environment, such as premium formats, premium seating and the occasion of going out, gives great content an opportunity to shine.”

Mr Basil-Jones believes social media has provided a new sense of urgency around seeing a movie that is creating viral buzz online, something previously seen in 2023 with Barbie.

“There’s a cultural relevancy, and it can be to a general audience or a niche audience, and so there’s a sense of FOMO about not having seen a movie and not being able to be part of the conversation,” he says.

Harnessing that is the industry’s next challenge.

“As a cinema, this offers us a chance to step back and see what we can offer to get these online conversations to translate into real cinema admissions. We have learnt that gen Z is looking for experiences, not just content,” Mr Eaton says.

“A great film is just the starting point. Conversation, community and experience all contribute to making a theatrical release feel like an event worth being part of.”

While Brand New Day and The Odyssey have dominated the cultural zeitgeist over the Northern Hemisphere blockbuster season, the conversation will soon turn to the films still to come this year.

“Avengers: Doomsday is one of the most anticipated releases on the slate and a film the entire industry will be watching closely,” Ms Gandy says.

“In addition, we are eagerly anticipating the final chapter of the Dune trilogy, which will be a major cinematic event, especially in premium formats, and there’s no doubt there will be a few surprise breakout hits.”

It seems all but certain Brand New Day will be the year’s highest-grossing film, but Mr Basil-Jones believes Sony Pictures will deliver a few more hits to keep the box office momentum going.

“It’s going to be a record year for Sony Pictures here, there’s no doubt,” he says.

“Jumanji: Open World is the easy summer hit … the Resident Evil reinvention (from Weapons director Zach Cregger) is something special, too, and The Social Reckoning, from Aaron Sorkin, the brightest mind in Hollywood.”

Even before COVID, the cinema industry was grappling with the rise of streaming platforms, but this latest revival is helping to restore confidence in the enduring appeal of sitting in a cavernous theatre with hundreds of people, all staring in wonder at a screen far bigger than even the biggest flatscreen TV.

“We’re back, baby,” Mr Basil-Jones says with a smile.