“Record” Box Office Declarations are Hollywood Fiction

Authored by Scott Goldberg on August 9, 2007 - 7:19am.
Hollywood FluffHollywood loves to tell a story, and if you read the box office news this week you know that The Bourne Ultimatum set the August record for an opening weekend with its $70 million haul.  But which Hollywood news outlet kicked off the “Best Summer Ever” chant is uncertain, though the momentum picked up and became the mandatory addition to any reports of the latest box office results.  Initially I was charged with exploring the reasons for that success, beyond the obvious (namely the “Summer of the Trilogy”: Spiderman, Pirates of the Carribean, Shrek, and Bourne).  Why, in other words, are more tickets being sold this summer than perhaps ever before?  But after doing some research on the most recent summers, it appears the Hollywood bandwagon is telling its typically fluffy tale.

According to MovieWeb, which breaks down box office results in several ways, only one of the past four years has fallen off the pace.  Totaling the results of the top 10 films of each week, beginning with the first week in May through the first week in August, 2003 – 2007 went as follows:

2003: $1.887 billion

2004: $1.922 billion

2005: $1.745 billion

2006: $1.909 billion

2007: $1.913 billion

And just as this year’s high praise appears contrived, so too it seems does the death knell of previous years. 

If Hollywood loves to tell a story, the media loves doom and gloom, and can go on and on whenever there’s a scent of disaster.  But with praise, things become a little hazier.  How many publications included the “What a summer for Hollywood!” line this week?  Yet no one wanted to take the leap and predict why we’re seeing the success, not to mention the absence of anyone pointing out that the praise was undeserved until your’s truly.

But in previous years when the media momentum centered on doom and gloom, everyone had an opinion.  Someone said opinions are like…?  I can’t remember, but supposedly everybody has one.

The internet was killing the movie business.  Piracy was killing the movie business.  A lack of Hollywood creativity was killing the movie business.  TiVo was killing the movie business.  The Iraq war was killing the movie business.  YouTube was killing the movie business.  China was killing the movie business. 

You name it, and someone had written a lengthy theory on why the movie business was dead.

Now we’re all supposed to sing the movie business’s praises – and even I was supposed to do so today – but no one can explain it. 

Turns out no explanation’s necessary: Hollywood is floating along just fine, right in line with previous years.  And the skeptics who will say its franchises are the only thing holding the business together, you can consider that more a rule than a trend.  According to MovieWeb, sequels have driven summer box office success for a while.  Here’s the number of films that were #1 for the first week of May through the first week of August from 2003 – 2007:

2003: 8 sequels

2004: 3 sequels

2005: 1 sequel

2006: 4 sequels

2007: 6 sequels

And if Hollywood execs needed any more reason to keep pumping out the franchises, the worst summer of the past five years had the fewest sequels, 2005.

Hollywood media analysis always tells extreme stories; either it’s failing miserably or succeeding dramatically.  Why we throw a more conservative, rational perspective out the window, I’m not sure.  Perhaps we feel better about the world when we paint an overly dark or an overly colorful picture of Hollywood. 

It’s far more fun to contribute to Tinsel town’s drama after all than it is for, say, the fertilizer industry.

So here’s my best attempt to explain the Summer Success: if success is defined by hitting your numbers, it's been one hell of a summer in Hollywood.

Scott Goldberg



Comments

Movie Business or Box Office?

It's a very provocative article, but I think you made a mistake by equating the Box Office with the movie business. It's certainly part of the movie industry, but the real money is made on the DVD sales and if you look at that data for the first 6 months, things don't look promising. While there are difference between the music and the movie business, all you have to do is look at the CD business and it's clear that there are still rough times ahead. You might think that the doom and gloom has been over done, but I wouldn't go as far as to call it fiction when DVD revenues are already down 5% ytd. http://www.bizofshowbiz.com/2007/08/dvd_sales_and_rentals_down_alm.html

adjusted for inflation?

"Record" box office, record opening weekend, biggest movie ever . . . I've never fully understood these as a measure of a particular film's popularity (or in the context of this article, the growth or decline of Hollywood), as no-one ever seems to talk about two key factors - the ever-increasing price of a movie ticket, and larger and larger populations in the U.S. and worldwide that are available to watch movies. Is anyone surprised that just about every year a new record is set, when a typical movie ticket costs over $10., and the U.S. population is now over 300 million?

Re: adjusted for inflation

About as well said as possible Sean.

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