Planet Earth Loved Going to the Pictures in 2007

By Jane Ivory
12:00, March 6th 2008
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Planet Earth Loved Going to the Pictures in 2007

Moviegoers around the world spent a total of $26.7 billion in 2007, the highest box office revenues ever, with “Spider-Man 3,” “Shrek the Third,” “Transformers” and “Pirates of the Caribbean: At World’s End,” being North American favorites, the Motion Picture Association of America said Wednesday.

Last year saw the global box office revenue reach an all-time high at $26.7 billion, with box office revenue outside North America reaching $17.1 billion, nearly two-thirds of all ticket sales, the MPAA said.

The group explained that the increase is partly due to rising ticket prices and a weakening dollar.

Revenues outside North America climbed 4.9 percent to the above-mentioned $17.1 billion, while revenues in the United States and Canada increased 5.4 percent to a record $9.6 billion.

Dan Glickman, chief executive of the association, called the increase a sign of a “healthy” industry but acknowledged that a weakening dollar significantly helped boost figures.

“There’s no question that a significant portion of that increase is due to the currency situation,” he told reporters during a conference call.

Major studios, such as Walt Disney Co., 20th Century Fox and Paramount Pictures, also experienced an increase in the cost of making and marketing their films. They spent an average of $106.6 million producing and marketing a movie, up 6.3 percent from the previous year.

Subsidiaries such as Miramax and New Line saw an even more spectacular increase last year, with the average cost of producing and advertising a movie being $74.8 million, a 54 percent jump from 2006’s average cost of $48.5 million.

The biggest blockbusters of 2007 in North America were Sony Pictures’ “Spider-Man 3,” Paramount’s “Shrek the Third” and “Transformers,” and Disney’s “Pirates of the Caribbean: At World's End.” Each brought in more than $300 million.

Box-office admissions remained unchanged at 1.4 billion tickets sold, with higher ticket prices leading to increased revenue, the MPAA said.

For the MPAA’s complete report, go to www.mpaa.org\



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