Sunday, September 5, 2010

Summer Box Office

The New York Times reports that while box office revenue went up 2% this summer compared to last, attendance was actually the lowest since 1997. It's only higher ticket prices, specifically for 3D films, that's driven the increased revenue.
The worry, as seen in poor results for recent 3-D releases like Cats & Dogs: The Revenge of Kitty Galore, is that theater chains and studios have overreached on pricing. “We suspect some consumers are choosing 2-D movies solely to reduce the cost of their moviegoing experience,” wrote Richard Greenfield, an analyst at the financial services company BTIG, in an Aug. 23 research note.
The top grossing film for the summer of 2010 was Toy Story 3, which took in $405 million at the North American box office and grossed more than a billion dollars world-wide.

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