Fri, Apr 06, 2018 - Page 10 News List

Box office receipts grow 5% worldwide as US slides

AFP, LOS ANGELES

The global box office took a record US$40.6 billion last year, industry figures showed on Wednesday, as the Chinese market resumed growth and receipts in North America declined slightly.

The worldwide figure, bolstered by globe-striding behemoths, such as Star Wars: The Last Jedi, Beauty and the Beast and Wonder Woman, marked a 5 percent rise on 2016, according to the Motion Picture Association of America (MPAA).

The figures will be seen as a relief to executives anxious over a decline in non-US revenues in 2016, the first in more than decade, with US studios increasingly relying on the burgeoning middle class in developing economies.

The association’s Theatrical and Home Entertainment Market Environment report also included new information for last year on the home entertainment market, showing consumer spending up 11 percent at US$47.8 billion.

The data shows that subscriptions to online video services around the world also jumped 33 percent to reach 446.8 million. Americans, the report concluded, now spend 49 percent of their media time on a digital platform.

“With more stories and more storytelling mediums than ever, our industry continues to adapt to an ever changing world,” MPAA chairman and CEO Charles Rivkin said. “The global entertainment market is expanding on multiple fronts, constantly innovating to deliver an unparalleled experience to audiences worldwide.”

The global box office record was driven by a 7 percent increase in non-US markets (US$29.5 billion), in large part due to a resumption of growth in China, which slowed in 2015. Japan, Britain, India and South Korea rounded out the top five international markets after China.

Cinema screens increased 8 percent globally last year, reaching just more than 170,000, led by continued double-digit growth in the Asia-Pacific region.

The all-important North American box office — which boasted 262 million moviegoers, or a large majority of the 361 million joint US and Canada population — saw receipts fall slightly from a 2016 record of US$11.4 billion, back down to the previous high of US$11.1 billion.

The good news for studios looking to the future is that audiences between the ages of 12 and 17 attended an average of 4.9 movies — more than any other age group and closely followed by 18 to 24-year-olds.

Per capita attendance in North America was highest among ethnically Latin and South American, and Asian audiences.

“With the global box office continuing to grow and movies drawing younger, more diverse audiences, we see a bright future for theatrical entertainment,” US National Association of Theatre Owners president and CEO John Fithian said in a statement.

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