Global box office hits record high while U.S. staggers

How Hollywood can be going old to look brand new

The global box office hit a record high last year, nevertheless there were declines in revenue in North America, according to a brand new report.

The report, which was released by the Motion Picture Association of America on Wednesday, showed of which the worldwide box office hit a record $40.6 billion in 2017, which can be a 5% increase by 2016.

of which’s the not bad news for Hollywood filmmakers. The bad news can be of which the growth around the earth was stymied by declines back home.

The US along with Canada box office dipped by 2% by the record high of $11.4 billion in 2016. The more concerning drop for Hollywood isn’t box office totals, nevertheless rather with how many people are actually going to the movies.

The U.S. along with Canada sold more than 1.2 billion tickets last year, a 6 percent drop by last year.

The reason of which the box offices didn’t see a bigger drop in revenue can be likely due to rising ticket prices. The average ticket cost went up 32 cents to $8.97 in 2017, according to the report.

So in terms of moviegoers, where did all those eyeballs potentially go? Well, one culprit appears to be online video services, which saw overall subscriptions increase to 157 million domestically in 2017, a whopping 21% increase by the year prior.

Yet, despite its declines, the box office of U.S. along with Canada last year still saw 263 million people go to the cinema at least once. of which’s more than three-quarters of the population for those two countries.

“of which’s no surprise of which the number of people watching streaming services can be growing at a breakneck pace,” said Paul Dergarabedian, senior media analyst at comScore (SCOR). “nevertheless the fact of which the big screen experience remains an essential part of the entertainment diet proves of which no matter how many competitors have come along, going to the movies can be a habit of which can be not going to be broken anytime soon.”

Related: Diversity can be dominating the 2018 box office

Last year was a mix bag for Hollywood of which included huge box office hits like “Star Wars: The Last Jedi,” “Beauty along with the Beast” along with “Wonder Woman” amid what can be currently the worst summer movie season in 20 years.

Despite the the success of “Black Panther” of which year, 2018’s box office can be trailing last year by 4.6% so far, according to comScore.

“Hollywood cannot just rely on home runs at the box office like ‘Star Wars’ along with ‘Black Panther,” Dergarabedian added. “of which data shows of which needs more doubles along with triples as well.”

sy88pgw (brand new York) First published April 4, 2018: 5:57 PM ET

Global box office hits record high while U.S. staggers

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