Higher ticket prices behind summer box-office record
This weekend, Hollywood will officially celebrate a summer box-office record with $4.2 billion in U.S. and Canadian grosses as the early-May-through-labor-Day season ends.
Of course, that's a little bit like saying that Michael Phelps won the 400 meter relay because they shrunk the length of the pool. The fact is Hollywood can only boast -- and barely at that -- that it set a new summer box office "record" due to higher movie ticket prices, not because more people actually went to theaters.
Although box office revenue through Monday will top last summer’s $4.18 billion by 1% or less, the estimated 586.6 million total tickets sold will be down about 3.5% from last year and 10.2% from the modern-day peak in 2002, when the first “Spider-Man” came out.
“Yeah, it’s great to have the record but it’s built on higher ticket prices,” said Paul Dergarabedian, president of the Encino-based data tracker Media by Numbers.
Movie attendance has been virtually flat over the last decade despite year-to-year fluctuations, as studios and theater owners compete with computer gaming and other industries for the hearts and wallets of consumers.
Even so, exhibitors have been able to hike ticket prices by an estimated 53% since 1998, to a national average of $7.16 (including matinees and other discounts) this year, according to the National Assn. of Theatre Owners.
Angelenos, of course, usually pay a much stiffer rate as L.A. has some of the highest ticket prices in the nation.
Warner Bros.’ “The Dark Knight” will end up accounting for about 12% of this summer’s revenue - a chunk Dergarabedian called “unprecedented.” The movie will top $500 million domestically this weekend and appears headed for at least $1 billion worldwide.
Premium ticket prices for movies like “The Dark Knight” at giant-screen Imax locations, and for 3-D movies like “Journey to the Center of the Earth” at digitally equipped theaters, also have helped boost the national average.
-- Josh Friedman
