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ContentAgenda Staff,
Theatrical Revenues Up In 07 - March 5, 2008
In its annual theatrical market statistics, MPAA reports that domestic box office was up 5.4% in 2007 to $9.6 billion. Worldwide box office revenues hit a record $26.7 billion.
Other interesting tidbits:
*More independents released films in theaters in 2007. MPAA companies released 179 new release films, or 30% of the total, down from 203 films, 34% of the total, in 2006. Indies stepped up from 396 new release theatricals in 2006 to 411 in 2007.
* Marketing and production costs grew for both MPAA companies and their specialty subsidiaries, with subsidiaries getting hit with a 60% increase in production and 44% increase in marketing costs.
* The Internet has become one of the leading ways consumers hear about movies, with 73% getting their info online. Not surprisingly Internet ad-spending also increased and now accounts for 4.4% of ad spending. -J.N.
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