[opendtv] Business Insider: Hollywood Has Become Incredibly Dependent On Overseas Viewers
- From: Albert Manfredi <albert.e.manfredi@xxxxxxxxxxx>
- To: "opendtv@xxxxxxxxxxxxx" <opendtv@xxxxxxxxxxxxx>
- Date: Sat, 3 Aug 2013 19:42:41 -0400
There's interesting graphics with the article.
The only reason I'm posting this is, what holds for movies also holds for TV,
and the networks could use the Internet to their advantage. Yes, believe it or
not, EVEN for sports. There's even demand for US football overseas, strange as
that might seem to me.
Remember that recent article that explained why sports franchises prefer MVPD
distribution, so they can have that captive home audience? Just like the rest
of TV content, that might just be like cutting off your nose to spite your
face. Those old notions probably do not hold anymore, in this connected world.
My bet is that there's a huge audience out there for unaltered, untranslated US
TV shows, and that old notions are keeping lots of potential revenue untapped.
Many around the world are not as averse to learning other languages as many
English speakers seem to be!!
Bert
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http://www.businessinsider.com/overseas-audiences-helping-us-box-office-2013-3
Hollywood Has Become Incredibly Dependent On Overseas Viewers
Kirsten Acuna Mar. 8, 2013, 3:53 PM
With the box office in a slump this season, Hollywood could use some hits.
While analysts are hoping for the first U.S. hit of 2013 with this weekend's
"Oz the Great and Powerful," the answer for a quick box-office turnaround may
be appealing to the right audience overseas.
Last year, Hollywood had its best year ever to date earning a record $10.8
billion.
It wouldn't have come anywhere close to record numbers, however, if it weren't
for the foreign box office.
With international grosses added into the mix, the top ten 2012 box office
movies earned $9.2 billion at theaters. Without overseas earnings, the same
films earned $3.2 billion.
Even bombs benefited from overseas.
"Journey 2: The Mysterious Island" earned $222 million abroad while barely
surpassing the $100 million mark at home. The "Total Recall" remake earned more
than three times its $58.9 million domestic gross overseas.
And Tom Cruise's weak box-office performance with "Jack Reacher" at home ($79.7
million) earned $136.5 million in foreign grosses.
"Battleship" may have seen earnings of only $65 million here, but went on to
earn a massive $303 million worldwide. Despite Disney's $200 million write down
on "John Carter" last year the film made nearly 75 percent of its earnings
overseas.
With the foreign box office acting as a cushion for poor-performing U.S. films,
it gives incentive for Hollywood studios to take a gamble on big budget films.
If movies don't perform well at home, there's always the chance they will pick
up abroad.
But don't expect overseas earnings to save a total flop.
"Foreign box office took some of the sting out of major misses like
'Battleship' and 'John Carter,' but both films still lost tens of millions for
their studios when you factor in prints and advertising," Jeff Gomez, CEO of
Starlight Runner Entertainment, tells Business Insider.
"John Carter," for instance, resulted in Walt Disney Studios President Rich
Ross stepping down and a $200 million write-off.
So, what explains the overseas surge?
"Two significant markets have opened wider to Hollywood product." Gomez tells
Business Insider. "Russia and China are both nurturing theatrical growth
industries, and American movies will always be held as the gold standard there."
In the past year, five American-made films have surpassed the $50 million mark
in China while another nine have crossed $25 million.
Last year, China overtook Japan to become the second-biggest box-office market
in the world. A new report by Ernst & Young pits the country to overtake the US
film market by 2020.
Worldwide president of distribution at Sony Pictures, Rory Bruer, told TheWrap
one reason its films do well overseas is because of the storylines.
“If you look at the stories that we’re telling, like ‘The Amazing Spider-Man,’
these pictures are meant for every person on the planet,” said Bruer. “They’re
not U.S.-centric. They’re relatable for everyone.”
Gomez says another reason foreign box office has been booming is because of the
increase of 3D and IMAX abroad in recent years.
"One of the major factors in the foreign box office boom is that overseas
filmgoers have embraced 3D, far more so than their American counterparts," says
Gomez.
"Action and spectacle have always been big winners internationally, and
elements like 3D and IMAX boost the wow factor and continue to be enormously
popular."
With the box office hurting right now, "Oz the Great and Powerful" could be
the right combination both domestically and abroad with IMAX and 3D showings.
"Although the 'Wizard of Oz' story world has been relatively dormant for the
past decade, it ranks with 'Star Wars' among the most highly recognized story
worlds in all of global popular culture," says Gomez. "The film is tracking to
be a hit domestically, and its huge international will be icing on the cake."
Read more:
http://www.businessinsider.com/overseas-audiences-helping-us-box-office-2013-3#ixzz2ax3UZVEn
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