In North America, the box office revenue dipped by 2.3 percent for 2017; however, the numbers by the international box office have shown there was a growth of three percent. To say the least, the performance that was seen from the box office around the world was somewhat of a up and down ride throughout 2017.
The North American Box Office Plummet
According to statistics, in North America, attendance to new movies in theaters was at a 27-year low; however, an official tally isn’t going to be available until the average ticket price for 2017’s fourth quarter has been calculated and released by the officials from the National Association of Theater Owners. Even though the sales for domestic tickets crossed the $11 billion mark for just the third time ever, with the official amount being $11.12 billion, the actual revenue fell by 2.3 percent from the record set in 2016 of $11.4 billion. It was also short of the 2015 revenue amount, which was $11.14 billion, according to information from comScore.
What is Going on With the Global Box Office?
On the global level, however, the revenue saw an uptick of three percent, after it reached an all-time high that equated to $39.9 billion. This significant amount of growth was due to the six percent increase that was seen at the international box office, which is where the ticket sales were estimated to reach $28.8 billion. During the year 2016, the worldwide amount of revenue reached up to $38.6 billion, which was just one percent over what was achieved in 2015. There is no question that this gain for 2017 is one that is very welcome in the film business.
Why the Revenue Issues in North America Could Have Been Worse?
According to statistics and experts, the downturn of revenue in North America may have been significantly worse if there weren’t a number of huge hits around the holidays, including “Jumanji: Welcome to the Jungle,” and “Star Wars: The Last Jedi.” Before the Christmas-time corridor, the revenue in the box office was down by over four percent. According to information that is available now, this 2.3 percent reduction that was seen in North America occurred due to one of the absolute worst summer seasons in recent history, even though there were several successful films, such as “Spider-Man: Homecoming,” “Guardians of the Galaxy Vol. 2,” “Dunkirk,” and “Wonder Woman.”
What Were the Top Grossing Movies of 2017?
The movies that were at the top of the chart in regard to revenue for 2017 included “The Last Jedi,” from Lucasfilms’ and Disney that earned $1.04 billion, “The Fate of the Furious,” from Universal that grossed $1.23 billion and “Beauty and the Beast” from Disney that grossed $1.26 billion. The film industry is hoping for a better 2018 with a number of exciting films set to be released. In the end, the numbers will tell whether or not the film industry is going to have a profitable year or see attendance go down even further. Let us know what you think in the comments below.
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