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.
Quotes are real-time for NASDAQ, NYSE and AMEX. See delay times for other exchanges.
Fundamental company data and historical chart data provided by Thomson Reuters (click for restrictions). Real-time quotes provided by BATS Exchange. Real-time index quotes and delayed quotes supplied by Interactive Data Real-Time Services. 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 SIX Financial Information.
While some consumers are newly furious over old comments from the edgy retailer's CEO, shareholders drive the stock higher.
- Meet the class of 2013, the most indebted yet
- Welcome to the future: 3-D printable pizza
- Apple's stock is slipping, but its brand value isn't
- Oklahoma tornado losses could top $2 billion
- Target blames weather for soggy results
- Canada grabs for America's foreign skilled workers
- Chick-fil-A thrown back into gay marriage debate
- States fall short on helping struggling citizens
- Some of France's richest taxed more than 100%
[BRIEFING.COM] Recent action saw the key indices slip to fresh afternoon lows. The S&P 500 now trades with a gain of 0.1% while the Nasdaq has slid into the red.
The Nasdaq trails behind the broader market as major tech names like Google (GOOG 897.25, -9.72) and Oracle (ORCL 34.43, -0.67) weigh. However, the largest index component, Apple (AAPL 444.27, +4.61), has been able to outperform its peers.
Chipmakers outperformed in ... More
More Market News
The tech giant should step out of a politically charged debate on taxation and into growth mode.