2010: The year Hollywood made a lot of money
Some startling news out of Hollywood today. Despite the very much noticed drop in total Movie Box Office ticket sales (down 5% to 1.34 Billion tickets sold in 2010, from 2009) The total worldwide Box Office sales set a new record of 31.8 Billion dollars. This is an 8% growth over last years box office total.
The reason? 3D. That 1.34 billion tickets also contained roughly 270 million 3D movie ticket sales, and with the average price for a 3D movie hovering around $3.00 more expensive, you can see how a small drop in total ticket sales was absorbed by the larger increase in ticket prices.
According to John Fithian, CEO of the National Association of Theater Owners, “I think the most historic thing of 2010, which predicts what will be the headlines in the coming years, is the growth of digital cinema and 3D”
So what does this mean for us movie goers? Expect more and crappier 3D movies, just because Hollywood now has proof that it will make more money. Expect more 3D adaptations of classic movies, such as Star Wars (released in 3D) or Jaws (in 3D) or god knows what else. It’s a sad day when you can foresee that next year a movie will cost you more, and you will get less out of it. Thanks Hollywood. Thanks.