CATEGORIES Movie NewsThis year, Christmas came right on time for Hollywood.
Studios not only took in a record-breaking $10.8 billion in movie earnings, but, for the first time in three years, sales have actually increased at the box office.
Ticket sales had been declining for over the past decade; in 2011 they were at their lowest level since 1995. But, thanks to gangbusters superhero and spy flicks, sales are projected to rise 5.6 percent by the end of the year. The improved figure is still below the hay-day of 2002, but with the continued emphasis on VOD and alternate viewing options, studio executives consider it a win.
"It is a victory, ultimately," Don Harris, head of distribution at Paramount Pictures, told the AP. "If we deliver the product as an industry that people want, they will want to get out there. Even though you can sit at home and watch something on your large screen in high-def, people want to get out."
Execs are hoping that 2013, with an incredible lineup that includes "Star Trek," "Catching Fire" and "Man of Steel," they will set an even higher record.
"I've been saying we're going to hit that $11 billion level for about three years now," added Paul Dergarabedian, a box-office analyst for Hollywood.com. "Next year I think is the year we actually do it."
You can read more about the increase here.
[via Hollywood.com h/t AP]