Are the box-office blues over?
Hollywood is buzzing with hopes that Thanksgiving weekend might break the 2009 domestic box-office record of $258.6 million over the five-day period.
Thanksgiving may be a groggy, food-filled memory, but movie makers are trying to keep the holiday spirit rolling forward as the U.S. film industry advances into the important last weeks of the year. Much like the retail sector, Hollywood relies on its six-week-long holiday season for a large portion of its revenue -- reportedly about 20% of annual box office receipts.
But like the rest of the nation, the film industry been going through some hard times. Last year was a disappointment for Hollywood. According to the Los Angeles Times, ticket sales in 2011 fell to $1.28 billion, their lowest level in 16 years. The rising costs of ticket sales along with competition from new entertainment technologies like video games and other social media options have been cutting into Hollywood's bottom line, and are keeping a lot of the traditional movie-going audience home.
But there are hopes that several big blockbuster films, including "Skyfall," "Lincoln," the Twilight Saga's "Breaking Dawn Part 2" and the upcoming "The Hobbit" movie will turn things around.
In fact, according to Deadline Hollywood, there is a buzz going around Los Angeles that this Thanksgiving holiday weekend might break the 2009 domestic box office record of $258.6 million for the five-day period.
At the same time, some in the industry are surprised at the lack of family-oriented holiday films this season. And in a break with tradition, "Rise of the Guardians" is the only high-profile animated film coming out over Thanksgiving.
"It feels like somebody is leaving a lot of money on the table this holiday season," Drew McWeeny, a film editor at HitFix, told Reuters. "There are no warm, fuzzy family films. Normally things like that are staked out so carefully. I'm not sure what happened this year."
Nevertheless, Hollywood seems to believe that a steady diet of action and fantasy is what movie-goers are looking for this holiday season.
"We all have a lot riding on these films, and you want people to be buying tickets," Fox 2000 Pictures president Elizabeth Gabler told the Los Angeles Times. Her studio produced "Life of Pi", another highly-anticipated film being released over Thanksgiving. Sales for that film are reportedly doing well, and "Life of Pi" could make more than $28 million over the five-day holiday period.
"The more exciting movies you can offer people will get them to the theater," Gabler said. "When there's a lot of energy there, that fosters excitement about the moviegoing experience."
More from MSN Money
Copyright © 2013 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
You don't have to sign up for Medicare. The catch? If you don't enroll when you're first eligible, you could pay some serious financial penalties later in life.
- Student loan debt climbs for 5th year in a row
- Plans revived for 'floating city' of 50,000 people
- Homeowners insurance: Bountiful coverage for bad cooking
- 3 stocks for the 3-D printing revolution
- Why restaurants are adding tablets to the tables
- America's greatest export is its debt
- True test for Obamacare: Will it make US healthier?
- Who will foot the bill for Detroit's bankruptcy?
- How to refinance without resetting the mortgage clock
[BRIEFING.COM] The S&P 500 shed 0.1%, registering its fourth consecutive decline. Today's session proved to be a bit of a roller coaster ride for stocks as the S&P 500 opened in the red, rallied into positive territory, fell to fresh lows, and regained the bulk of its losses into the close.
For the second day in a row, the early weakness coincided with heavy selling in Europe. In addition, bonds and risk assets were pressured by a better-than-expected ADP Employment report, which ... More
More Market News
For years, Todd Mills pushed Frito-Lay to make taco shells from Doritos. He died from a brain tumor on Thanksgiving.