Gower Street Analytics has increased its 2025 global box office projection to $34.1 billion, up from its original December forecast of $33 billion, largely due to the fiery performance of Chinese animated blockbuster “Ne Zha 2,” now the fifth highest-grossing film of all-time globally.

The revised numbers, released just as the film industry gathers in Las Vegas for CinemaCon (March 31-April 4), project a 13% year-on-year increase from 2024 and a marginal 0.5% increase from 2023. Despite the upward revision, the forecast still sits 13% behind the average of the last three pre-pandemic years (2017-2019) at current exchange rates.

China’s box office projection received the most significant adjustment, jumping $1 billion to $7.6 billion thanks entirely to “Ne Zha 2.” This revised estimate would place China’s theatrical market 30% ahead of 2024 but still slightly behind 2023 by 1% (though converting to a 1% increase at current exchange rates).

Meanwhile, the North American market forecast saw a slight downward revision from $9.7 billion to $9.5 billion.