Disney's "Guardians of the Galaxy Vol. 3" (DIS) exceeded box office expectations this past weekend, securing $118.4 million domestically to bring its global total to $289.3 million.

Those results, on top of Universal's "The Super Mario Bros. Movie," which surpassed $500 million domestically, adds to early momentum heading into the hotly anticipated summer box office season.

"I think it's going to rival the pre-pandemic levels for summer box office," Paul Dergarabedian, Comscore senior media analyst, told Yahoo Finance Live on Monday.

Dergarabedian called out upcoming films like Pixar's "Elemental," Disney's "The Little Mermaid," Universal's "Oppenheimer," and Warner Bros. "Barbie" as just some of the many films that will drive box office dollars.

"This is just a bevy of riches on the way at the multiplex," he said.

According to the latest data from Comscore, total domestic box office grosses have hit $2.85 billion so far this year, 23.3% below 2019's $3.74 billion over that same time period.

For context, the 2022 domestic box office brought in an estimated $7.5 billion, representing a roughly 70% year-over-year increase but still 30% below pre-pandemic levels, when total North American ticket sales hit $11 billion.

But Dergarabedian argued the industry is heading in the right direction with 30 more wide-release films slated for release this year compared to 2022: "More movies more often is my [mission] statement for the industry for 2023."

Currently, the box office is on track to finish off 2023 above $9 billion.

'Lean and mean'

Box office insiders have questioned the longevity of the current theatrical business model as pre-pandemic levels appear harder and harder to reach against the rise of streaming.

As a result, rumors of consolidation within the industry have skyrocketed, especially following Cineworld's chapter 11 bankruptcy filing and AMC's shaky balance sheet.