Bloomberg: Hollywood Looks to Potter in 2009 to Stem Decline in Movie Attendance

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Dec 30, 2008

Posted by SueTLC
Uncategorized

Bloomberg.com has a new article online, detailing the concern Hollywood has over declining movie attendance and
ticket sales. The piece notes that many are looking toward Harry Potter and the Half-Blood Prince and other sequels to turn the tide in 2009. Quotage:

Hollywood’s fortunes may improve next year with the return
of proven franchises, including Warner Bros.’ “Harry Potter and
the Half Blood Prince’ the sixth in a film series that has
generated $1.41 billion in U.S. ticket sales, according to Box
Office Mojo LLC. Familiar titles may keep theaters filled as the
industry faces recession and the risk of an actors strike
.

The article continues to note that while ticket sales are down this season, Hollywood studios plan to release 17 sequels next year, and hopes rest on the success at the box office for these, including Half-Blood Prince:

Hollywood would probably have surpassed 2007’s record if
Time Warner Inc.‘s Warner Bros. hadn’t changed the release date
of the new “Harry Potter” film from November to July 2009,
Media By Numbers President Paul Dergarabedian said in an
interview. The first five films in the series have generated an
average of $282 million in sales.

Warner Bros. said in August it was moving the film to fill
a schedule gap created by the 100-day strike by the Writers
Guild of America. The studio is closing out 2008 in first place,
with record box office sales for the year, according to Dan
Fellman
, head of distribution.

Along with its New Line Cinema unit, Warner had taken in
$1.83 billion in U.S. sales as of Dec. 21, according to Burbank,
California-based Box Office Mojo.

Harry Potter and the Half-Blood Prince will be released in theaters July 17, 2009.





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