Box Office: Global Expanded, Domestic Contracted in 2017
$DIS, $CMCSA, $TWX
Revenue in North America for Y 2017 dipped 2.3%, but growth at the international box office resulted in a 3% uptick worldwide box.
The performance of the Y 2017 worldwide box office was a roller-coaster ride.
Attendance fell in North America to a likely 27-year low, although an official tally willnot come in until the average ticket price for Q-4 is calculated by the National Association of Theater Owners.
And while domestic ticket sales crossed $11% for the 3rd time in history at $11.12-B, revenue dipped 2.3% from last year’s record $11.4-B, and was behind Y 2015’s $11.14-B, according to comScore.
Globally, cinema box-office revenue was up 3% after reaching an all-time high of $39.9-B, according to comScore. The growth was thanks to a 6% uptick at the international box office, where ticket sales came in at an estimated $28.8-B.
In Y 2016, worldwide revenue reached $38.6-B, 1% ahead of Y 2015. The gain in Y 2017 is welcome news for the film business.
And the revenue downturn in North America could have been far worse without such year-end holiday titles as Star Wars: The Last Jedi or Jumanji: Welcome to the Jungle. Heading into the Christmas Holiday frame, revenue was down by more than 4%.
The 2.3% downturn in North America was due in large part to 1 of the worst Summer seasons in recent memory, despite such success stories as Wonder Woman, Guardians of the Galaxy Vol. 2, Spider-Man: Homecoming and Dunkirk.
Topping the Y 2017 worldwide box-office chart were Disney’s Beauty and the Beast ($1.26-B), Universal’s The Fate of the Furious ($1.23-B) and Disney and Lucasfilms’ The Last Jedi, which has earned $1.04-B to date.
The latest Star Wars installment is well on its way to becoming the Top grossing release of Y 2017. Other highlights of Y 2017 include a crop of smaller budgeted films that stretched the boundaries, including Warner Bros.’ and New Line’s It, which grossed $698-M Vs a $34-M production budget.
Going to the movies is a worldwide phenomenon
The big screen experience was bolstered by a unique and compelling slate of titles in Y 2017 that sparked an exceptional level of enthusiasm by patrons who flocked to movie theaters around the globe.
In North America, the disparity between the fall-off in movie attendance and the far less dramatic revenue downturn is due to the fact that attendance is calculated by dividing overall revenue by the average ticket price, which is ever on the rise, not adjusting for inflation.
In Europe and elsewhere internationally, theater owners keep track of how many people walk through the door, but that’s not the case in the US and Canada.
Rounding out the chart of the 5 Top grossing films at the Y 2017 global box office are Universal/Illumination’s Despicable Me 3 ($1.03-B) and Sony/Marvel’s Spider-Man: Homecoming($880-M).
Have some fun, see a movie this week.
Have a terrific New Year!
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