Hollywood Sees Record Box Office Revenue Amid Lower Ticket Sales
· Entertainment · Fortune, Times of India
Cinemas across the US and Canada generated $4.765 billion between May 1 and Labor Day, surpassing the all-time record set in 2013 by $9.3 million. However, rising ticket prices drove the revenue milestone while overall ticket sales dropped by nearly 249 million compared to 2019. Industry analysts note that inflation-adjusted earnings remain 17% below pre-pandemic levels. Paul Dergarabedian of Rentrak attributed the shift to an evolving post-pandemic business model that relies on premium screenings and higher prices. He also pointed to demographic shifts, noting that younger, drinking-averse audiences are increasingly choosing cinema visits over traditional nightlife.
Why it matters
The shift highlights how Hollywood studios are generating record revenue from smaller audiences through higher ticket prices and premium screenings.
Read the original report — Fortune
Join us on Telegram
Breaking news the moment it lands. At 10,000 members we ship the Android app.