Growing box office but stagnant domestic film business, new study projects
Movie ticket sales will boom 20% over a five-year span ending in 2016, but continuing revenue drops in the home entertainment sector will keep the overall U.S. and Canadian film business treading water, according to a new study byPricewaterhouseCoopers.
The consulting firm’s filmed entertainment outlook, set to be released Tuesday, predicts an acceleration over the next five years of trends with which Hollywood has recently been grappling. Those include growing digital revenue that can't keep pace with falling DVD sales and rentals, and faster growth of movie-related revenue in Latin America and Asia than in the rest of the world.
But a long-running trend of stagnant attendance at movie theaters will turn around as exhibitors, stung by consumers’ resistance to paying a premium price for 3-D films, will not boost prices as much as they have in the past, PricewaterhouseCoopers predicts.
See the full story here: http://www.latimes.com/entertainment/envelope/cotown/la-et-ct-pwc-film-study-20120611,0,2023536.story