2008 was a banner year for the box office. Americans blew $9.64 billion dollars on movie tickets last year falling just shy of a hotly desired $10 billion mark. This year, as the nation coped with massive unemployment and a staggering recession, we've shelled out even more to go to the movies.
As of last weekend the official total for 2009 domestic sales to date was a healthy $9.5 billion, a whopping 8% over the total for the same time last year. If sales don't take it past the current record of $9.64 billion this week, this weekend will definitely push it over the top. To boot, if upcoming major players like Avatar and Alvin and the Chipmunks: The Squeakuel do as well as expected, 2009 may be the box office's first time in to double digit billions.
How is Hollywood managing that feat? Certainly not by volume. For the last three years studios have rolled out record numbers of flicks, over 600 according to Box Office Mojo. This year the total will barely top 500.
It's also not due to the top players. This year's number one movie Transformers 2 tapped out at $402 million, lower than last year's top grosser The Dark Knight which banked over $500 million. As well, totals for 2009's top ten to date are a little lower than 2008's and well below 2007 by nearly $200 million. So where's all the extra money coming from?
The sales seem to be spread out across the board. The number of movies topping key marks like $200 million and $100 million during the year aren't very much higher this year than in years past, though there have been some surprises that helped boost the total. Comedy The Hangover became the highest ever grossing rated R movie this summer capping off at a whopping $277 million.
This fall was also a big help. According to Variety movies released during this October and November (usually a heavy dry spell for ticket sales) were up over 11% from last year, thanks in no small part to New Moon, 2010, Couples Reatreat and two other movies released in that window that have topped $100 million so far. With more and more big name movies rolling out in that time frame, fall may just be becoming the new summer. Joyous news for studios.
If you're thinking sales are up due to increased ticket prices, think again. While ticket cost has gone up, attendance is up as well, by more than 3% from last year according to Variety. So, not only are we spending more, more of us are doing it. During an economic downturn the best business to be in is the one that lets people get away from it all.
