Despite Lousy Summer Box Office, the Sky Is Not Falling

September 3, 2014 8:55 PM

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Despite Lousy Summer Box Office, the Sky Is Not Falling

Alarming press reports that summer movie box office fell 21 percent suggest a death knell because consumers are infatuated with digital media ranging from smart phones to video-on-demand. The 21 percent drop in ticket revenue to just over $3.8 billion translates to around $1 billion less in box office than a record summer haul last year.

That box office drop is painful, but cinema has suffered through dry spells over the years and bounced back. Unit ticket sales range from 1.3-1.5 billion per year recently, after cinema was said to be in a death spiral in the 1970s due to inroads from TV viewing. Admissions had been under 1 billion ...

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