With a stronger second half performance in the summer months by films than was expected, researcher Media By Numbers LLC projects the Hollywood studios will break the U.S. record for sales this year, reaching the $4.15 billion mark, said a Bloomberg report. The existing record came in 2004, which ended at $3.95 billion. That would be a 7.8 percent increase if the projections hold.
While overall ticket sales rose by 3.1 percent over last year, they dropped 7.3 percent from the record year of 653.4 billion sold in 2002, finishing at 605.8 billion tickets sold.
The record for overall sales comes partly from the increase in ticket prices, as they grew by 4.6 percent from 2006, averaging $6.85 per movie.
Three films accounted for almost a quarter of US sales, being led by "Spider-Man 3," which has $336.5 million in sales; "Shrek the Third" was second with $321 million; and finishing third was "Pirates of the Caribbean: At World's End," drawing $306.7 million.
This will be used as a marketing tool of course, but the profits and quarterly results will tell us if this really has made a difference in the industry. For theater owners it has been a good year, no matter which way you look at it.
The problem is, with 14 sequels being released this year, and 14 films reaching the $100 million mark or better, what will Hollywood do for an encore next year?
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