We seem to end up posting stories like this every year, but it just keeps on happening. Hollywood whines and whines and whines about how piracy is killing the movie business… and then announces yet another record year at the box office.
Recent numbers show that the movie industry just broke the magic $11 billion barrier, generating more revenue than ever before at the North American box office. The revenue for 2015 totals $11.3 billion, which is roughly a 9% change compared to last year.
The worldwide grosses also reached an all-time record according to research from Rentrak, which estimates the global grosses at a staggering $38 billion based on data from 25,000 theaters across the globe.
Of course, sometimes people argue back that this is only because tickets are more expensive and that fewer people are actually buying tickets to go to the theater. About that…
Another sign that business is going well, at least for some, is the increase in the number of tickets that were sold. In 2015 theaters increased their ticket sales by more than 5% in North America.
I imagine that some will respond that this was really only because of the desire to see the new Star Wars flick, but isn’t that simply proof that if you deliver what the public wants, they’ll pay to go to the theater?
The other response, then, is that the real problem is that the home video market has declined. Sure, but that’s the same home video market that Hollywood tried desperately to kill, so I’m not sure that’s a legitimate argument if you’re defending Hollywood.
But, even if we accept the question of the home video market, I’ll just point out that, last I checked, Netflix had a valuation over $45 billion. So, at least Wall Street doesn’t seem to be too up in arms about the state of the “home video” market.
Of course, every time we post this kind of thing, we’re left asking if Hollywood will finally recognize that, maybe, just maybe, piracy isn’t the issue they should be focused on. And it never happens. However, let’s be optimistic this year and hope that maybe Hollywood will finally come around to realize that the thing it’s been saying will kill it hasn’t done anything of the sort.
Jan 11th 2016