Rich Fiscus
1 Sep 2007 14:48
Despite concerns about the extent of piracy, the movie business has pulled in record revenues this summer, earning more than $4 billion in box revenues in the US alone.
Media by Numbers, which tracks such things, estimates that the industry will rake in $4.15 billion by the end of Labor Day. That's despite record-high average ticket prices of $6.85, up $0.30 from a year ago. That's even despite claims that piracy is on the rise, and it's harming the industry.
As you may recall, the movie business has been publicly obsessed with piracy since 2005, when US box office revenues dropped 5.7 percent in a single year. To hear Hollywood tell it, piracy sapped that revenue straight out of the industry, and the industry has focused on little since.
The extent of the studios' concern is easy to gauge: just look at the MPAA homepage. Nearly every featured item on the home page (apart from a box allowing visitors to type in their favorite movie) concerns piracy. The three stories currently showing under "news and issues"? They're all about piracy. The four boxes beneath the "Magic of the Movies" picture? They're all about piracy. Parental resources? It's about... oh, never mind.
Despite this focus on piracy, it apparently isn't having a serious affect on their bottom lines. In order to believe otherwise, you'd need to expect the studios to do record business every year.
Source: Ars Technica