CINEMA BOX OFFICE:Affirming the view that movies not only survive but prosper in a recession, cinema attendances are on the rise across the world. While other US industries are running for cover during the economic crisis, the thriving international box office has made the US film business a powerful growth industry.
That was the upbeat message at the recent annual convention of the Motion Picture Association of America (MPAA). It helps significantly that going to the movies costs substantially less than concerts, sporting events, Broadway shows and restaurants.
“Movies have become an extraordinary escape valve,” says MPAA chairman Dan Glickman. “It’s a communal experience.”
Box office revenue is up by 9 per cent in the US this year, with corresponding increases around the world. That follows a record-breaking year in 2008, when international cinema ticket sales exceeded $28.1 billion, a 5 per cent increase on 2007.
The Hollywood studios confidently expect a further boost over the summer, when the schedule is packed with expensive blockbusters, and from the revival of screen musicals, of which 10 are on the way, including a new version of My Fair Lady starring Keira Knightley, and Nine, whose cast is led by Daniel Day-Lewis.
However, a cautionary note has been struck by the returns for the year's first blockbuster, Watchmen, which has taken just over two-thirds of the earnings made by either Taken, the thriller starring Liam Neeson, or the comedy , Paul Blart: Mall Cop. Both films cost far less to make than Watchmen.
Irish cinema ticket sales for January this year exceeded 1.7 million, the highest January admissions on record, according to data compiled by Nielsen EDI for Carlton Screen Advertising. Irish cinema admissions in February were more than 1.5 million, representing an increase of 8.2 per cent on the same month in 2008.
