2007 roundup: US down, the rest up

The focus is shifting. Export is becoming more and more important for the entertainment industry. And while the US might be still ahead, more and more countries are developing wealthy consumers who are ready to take over.
We saw it already with movies like ‘10,000 B.C.’ and ‘The Kingdom of Heaven.’ The last made just $47 million domestically, a flop compared to its $130 million budget. But if you take into account the $164 million it made overseas, it didn’t do that bad after all.
We see the same for 2007, looking at the totals for rental dollars from movie theaters, TV fees and VHS/DVD receipts. The US ended with a negative balance of -8%, not able to grow in any way. The international markets however, were up 9%, making up for the loss in the US.
Home video sales in the US took an even worse beating, down 17% from 2006. This, while international sales were up 5%.
If this trend continues, Hollywood has to let go of the US as its main market. Simultaneous releases into their main worldwide territories would have to become a priority. Not just for some movies, like it is now, but for all movies. We already saw how Sony locked up Jeff Blake, who’s responsible for global distribution at Sony. And I wouldn’t expect it to end there. Hollywood is getting ready to become Hollyworld.
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Tags: dvd, jeff blake, overseas, rentals, sales, sony pictures, theater, vhs
Posted in Box Office, News |
