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Author Topic: Hollywood box office hits new highs?  (Read 369 times)

Offline IanSantiago

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Hollywood box office hits new highs?
« on: July 15, 2020, 07:25:03 pm »
Despite massive campaigns to inform the public of the dangers of piracy and its effect on the world economies,the Motion Picture Association of America (MPAA) has posted on their website that 2007 saw new all-time highs for both domestic and global box office sales.

The MPAA's own data figures show that the global market grew almost 5 percent$26.6 billion USD, and the US market grew 5.4 percent to $9.6 billion USD.

“From the threat and eventual reality of a writer’s strike to the global impact of film theft to concerns over the economy, the film industry faced significant challenges in 2007,” stated Dan Glickman, Chairman and CEO of the MPAA. “But, ultimately, we got our Hollywood ending. Once again, diverse, quality films and the timeless allure of the movie house proved a winning combination with consumers around the world.”

According to recent studies by the Institute for Public Innovation, movie piracy costs the US economy $20.5 billion annually including revenue loss and “related measures of economic performance." The study goes as far as to say that the movie industry could have added 45,000 new jobs had it not been for piracy. Funny how BO sales can grow at a steady pace despite the fact that the economy is seeing a "$20.5 billion USD annual loss" right?