Posted by: youngragingbull | December 26, 2012

Hollywood rakes in record $10.8B in 2012

Ticket sales at U.S. theatres are up for the first time in three years as Hollywood studios took in a record $10.8 billion domestically in 2012, driven by blockbuster superhero flicks.

The industry rebounded this year, with ticket sales projected to rise 5.6 percent to 1.36 billion by Dec. 31, according to box-office tracker Hollywood.com. That figure is still well below the modern peak of 1.6 billion tickets sold in 2002, but given the current economic climate as well as advancements in home-media technology and internet piracy, studios consider it a success.

U.S. domestic revenue should finish up nearly 6 percent from 2011’s $10.2 billion and top Hollywood’s previous high of $10.6 billion set in 2009.

Success this year has been driven by a pair of superhero sagas that drew in millions of moviegoers, both at home and abroad. Disney’s The Avengers took in $623 million domestically and $1.5 billion worldwide while Warner Bros. The Dark Knight Rises took in $448 million domestically and $1.1 billion worldwide.

Studios and analysts alike expect 2013 to be another record box-office year with more superhero movies set for release including two more instalments of Iron Man and Thor as well as a new Superman movie, Man of Steel.

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