News

Global Boxoffice Revenue Edges Up 1% in 2016

   March 22 2017—Global box office rose one percent in 2016 to $38.6 billion, as a de-acceleration in high-flyer China dampened results compiled by the Motion Picture Association of America (MPAA). Given the proliferation of video-on-demand for the
 
same movies in theaters, it can be argued that any growth in cinema ticket revenue is relatively good.
    In the U.S., which is the largest box office territory, climbed 2% to $11.4 billion while China edged up 1% to $6.6 billion. Looking at overseas alone (thus excluding the domestic market), box office slipped to $27.2 billion, from $27.3 billion in the year prior, according to the MPAA. The overseas revenue is depressed by currency exchange. The U.S. dollar has appreciated in 2016, so then foreign currencies lose value in conversion to dollars. Thus, even when foreign currencies remain constant, their value declines when expressed in dollars.
   “The robust 2016 global box office was accompanied by continued investment in cinema infrastructure,” says an MPAA press release. “The total number of cinema screens worldwide increased by eight percent in 2016 to nearly 164,000, due in large part to continued double digit growth across the Asia Pacific region.”
For full text, click links below; this website’s text is searchable via searchbox on upper right of webpages:
http://www.mpaa.org/press/global-box-office-remains-strong/#.WNL3EPkrKMo
http://nypost.com/2017/03/22/hollywood-takes-a-hit-overseas-with-strong-us-dollar/
http://variety.com/2017/film/news/box-office-record-china-1202013961/
http://www.marketingmovies.net/news/ages-12-17-lead-moviegoing/
http://www.marketingmovies.net/chapters/chapter-9-exhibition-theaters/