U.S. movie studios increasingly rely on emerging foreign markets

From L. A. TIMES:

…Box-office growth in countries such as Russia, Brazil and China (Europe and Japan have long been fertile ground for American movies) comes as theater attendance in the U.S. and Canada has flattened and once-lucrative DVD sales have plummeted…

Overseas ticket buyers now account for nearly 70% of Hollywood’s box-office revenue, and it’s quite possible for a movie to flop in the U.S. yet still be a hit because of its international appeal. For example, the Johnny Depp-Angelina Jolie thriller “The Tourist” earned only $68 million domestically after its December debut. But the movie, directed by a German, filmed in Venice and Paris, featuring a largely British supporting cast and remade from a popular French film, did a healthy $211 million overseas.

“When it comes to casting decisions … we certainly take into account how well the character will play in international markets,” said Neal Moritz, a producer of “Green Hornet.”

Click here to read the full article.

Share