Hollywood global box office touches $25 bn

MUMBAI: The US box office rebounded in 2006 to finish the year at $9.49 billion in revenues compared to $8.99 billion in 2005 – a 5.5 per cent increase from the previous year, with 1.45 billion movie tickets sold in the US, ending a three-year downward trend in ticket sales.


 


These statistics were released by the Motion Picture Association of America Inc. (MPAA) in its annual theatrical market statistics report. Global film audiences boosted the worldwide box office to an all-time high of $25.8 billion, compared to 23.3 billion in 2005 – an 11 per cent increase.


 


“Last year film audiences around the world demonstrated through strong ticket sales that they love going to the movies. Technologies are emerging at a fast pace challenging our industry – filmmakers and exhibitors alike – to work harder and smarter to keep moviegoers coming back for more and I think we are well on our way,” said MPAA chairman and CEO Dan Glickman.


 


In 2006, 63 films grossed more than $50 million at the box office, a 12.5 per cent increase from the previous year, and Pirates of the Caribbean: Dead Man’s Chest exceeded the $400 million mark. The number of new movies released has been steadily growing over the last several years with total releases topping another all time high of 607 in 2006, compared to 549 in 2005, an 11 per cent increase. Consistent with 2005 figures, PG- 13 films comprised the majority of top grossing films for the industry, with PG and PG-13 films accounting for 85 per cent of the top 20 films of 2006.


 


The overall cost for MPAA member companies to make and market a major motion picture in 2006 remained essentially flat at $100.3 million – a 0.6 per cent increase from 2005; a decrease in marketing costs offset a slight increase in production costs. Member companies also focused more of their marketing dollars on non-traditional media and spent almost as much on on-line/Internet advertising per film as they did on movie trailers.


 


Technology continues to provide new opportunities for the film industry, according to an analysis conducted by Nielsen Entertainment /NRG which indicates that moviegoers who owned or subscribed to four or more home technologies (i.e. DVR service, large television, DVD player and video on demand) were actually more avid moviegoers who see an average of three more movies per year than the moviegoer who owns or subscribes to fewer than four home entertainment technologies.


 


Overall, according to the Nielsen research, the vast majority of moviegoers who saw at least one movie in 2006 believed the experience was one of time and money well spent. And MPAA research shows that moviegoers went to the theater more frequently in 2006 than in the previous year. Movies continue to be the overwhelming choice for entertainment drawing more people to movie theaters than theme parks and the major professional sports leagues combined.

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