Hollywood is singing with record revenue despite registering a five-year drop in movie attendance. According to Hollywood box-office analyst Paul Dergarabedian, the profit went up $100 million up from last year. This year, Hollywood made a staggering $4.35 billion. Huge blockbusters like Toy Story 3 and Inception came to Hollywood's rescue this year.
Low attendance has been attributed to steep rise in ticket prices, mainly due to a surge in 3-D screenings, which cost a few dollars more than a regular movie ticket.
The tickets have been sold at an average of $7.88, according to the National Association of Theatre Owners which is 38 cents extra from last year. The summer saw some great crowd puller like Disney's Toy Story 3, followed by Shrek 2 as just the second animated film to top $400 million at the domestic box office.
Similarly Paramount's Iron Man 2 shot past $300 million, while Summit Entertainment's The Twilight Saga: Eclipse has almost hit the bull's eye. Topping $200 million were the Warner Brother's release Inception, Paramount and DreamWorks Animation's Shrek Forever After and Universal's Despicable Me. Sony had three $100 million hits with The Karate Kid, Grown Ups and Salt.
However, there were a few duds that failed to live up to the hype of summer blockbuster season, among them the Warner Bros. sequel Sex and the City 2, Disney's The Prince of Persia: The Sands of Time and The Sorcerer's Apprentice, and 20th Century Fox's Marmaduke and Knight and Day.