Summer Box Office Flying High
By Lisa K. on July 19, 2009
Things are looking up at the box office for movie studios this summer despite the world recession. Variety is reporting Harry Potter and the Half-Blood Prince cleared nearly $400 million in its worldwide debut, conjuring up the biggest overseas opening of all time at $237 million and grossing $159.7 million domestically. This is truly impressive for an aging franchise, however is just proves the loyalty of the series fanbase. So far plenty has gone right this summer season as it remains on track to set a box office record when final grosses are tallied after Labor Day in early September.
Things are looking up at the box office for movie studios this summer despite the world recession. Variety is reporting Harry Potter and the Half-Blood Prince cleared nearly $400 million in its worldwide debut, conjuring up the biggest overseas opening of all time at $237 million and grossing $159.7 million domestically. This is truly impressive for an aging franchise, however is just proves the loyalty of the series fanbase. So far plenty has gone right this summer season as it remains on track to set a box office record when final grosses are tallied after Labor Day in early September.
Nielsen EDI data show industry grosses up 5% compared with a year ago, despite the summer featuring one fewer weekend because of calendar fluctuations. Four films have surpassed $200 million domestically (Star Trek, Transformers: Revenge Of The Fallen, The Hangover, Harry Potter & The Half-Blood Prince, and Up), compared with three at a similar point last summer. Pleased with the season's theatrical performance to date, industry leaders are optimistic about prospects for a solid close to the summer with further box office hits yet to be released including the Universal's Judd Apatow comedy Funny People, starring Adam Sandler and Seth Rogen, Paramount's G.I. Joe: The Rise of Cobra,and Quentin Tarantino's war picture Inglourious Basterds.
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Comments
3 February 2008
2 days 5 hours
I wonder if the box office boon has anything to do with the wet, rainy summer the Northeastern U.S. has had? Here in Upstate NY, we've barely had any days warmer than 80 degrees all summer. Certainly not beach or pool weather here. When it's raining out, we go to the mall or to a movie. And since no one has any money due to the economy, that leaves movies as a cheaper, more certain source of enteratinment than amusement parks, ball games, concerts etc. that depend on decent weather.
I'm also surprised that things are looking so rosy considering that I don't think there are as many movies people were really excited to see this summer as compared to past summers. No Shrek, no Simpsons movie, no Pirates, No Spiderman, etc. And of the 5 movies you listed as going over $200 million in ticket sales, 3 of them (Star Trek, Transformers, Harry Potter 6) were sequels or had a built-in fan base. The 4th, Up!, had the Pixar brand of quality attached to it. Ohly The Hangover is what I'd consider a movie that really had to sell itself to reach that feat. Personally, I'm only looking forward to 2 other movies this summer: The Ugly Truth, and Funny People, and I may wait until they come out on DVD.
It will be interesting to see how the rest of the summer box office plays out.
20 September 2007
40 weeks 3 days
Yes no kidding! I'm actually looking forward to G.I. Joe...loved the classic 80's cartoon. I'm not expecting oscar-worthy material...just taking it for what its worth.
I think this has been a trend for previous recessions/depressions....the only thing to withstand the dreary and glum economic realities has been the movies. Something to take the minds off the sad reality people are suffering through and like you mentioned it still is a lot cheaper than other forms of entertainment (who can afford paying for major sporting event tickets now a days?)