Wang Jianlin, chairman of Dalian Wanda Group and one of China’s wealthiest investors, announced his plans to build Qingdao Oriental Movie Metropolis. The project, estimated to cost from $4.9 billion to $8.2 billion, would include film studios, resort hotels, an indoor amusement park, movie theaters and a hospital. The metropolis is a sign of China’s efforts to become a world leader in the filmmaking industry. Last year, Dalian Wanda acquired AMC Entertainment for $2.6 billion. Continue reading Chinese Investor Envisions Movie Themed Real Estate Project

With Labor Day the traditional end of summer, pundits survey the uneven landscape of a fickle summer. Disappointing openings and steep weekend-to-weekend drop-offs jarred execs and provided fodder for commentary and soul-searching. It may be easy to find irony in the titles of two financially successful movies — the low-budget “The Purge” and “This Is The End,” which spoofed the end of the world against a backdrop of contemporary Hollywood — to suggest that this summer truly marks the end for movies. But that would only happen if there were a total failure to recognize emerging trends, acknowledge this is not the first time Hollywood has faced a changing market and apply new ideas to shape the future. Continue reading EXCLUSIVE: Looking Beyond Summer Box Office as Trends Emerge

Last week, the MPAA rejected findings of a European study that suggests the shutdown of piracy site Megaupload damaged revenues for theatrical films other than blockbusters. Megaupload was shut down by the FBI in January 2012. While researchers at Carnegie Mellon found that the shutdown boosted legitimate digital sales of movies, a new study from Ludwig Maximilians University Munich and Copenhagen Business School argues that anti-piracy measures may have unintended consequences for different kinds of movies. Continue reading Megaupload Shutdown: MPAA Rejects Findings of Piracy Study

Google introduced a new report titled “Quantifying Movie Magic with Google Search” that details how effective Google searches can be in regards to predicting the future box office success of upcoming movies. If proven accurate, Google could join forces with traditional methods such as surveys, tracking polls and other analytic services. The company claims it can predict opening weekend box office revenue with up to 94 percent accuracy. Continue reading Is Google Search the Future of Predicting Box Office Numbers?

The MPAA released its 2012 theatrical statistics report last week. Among the findings, international ticket sales increased 6 percent to $34.7 billion and China is now second to the U.S. in terms of world markets for theatrical films. California and New York had the highest number of moviegoers in the U.S. Per capita attendance may be declining among teens, but the number of moviegoers across all ages was its highest since 2009. Continue reading Encouraging Numbers: MPAA Releases 2012 Theatrical Stats

Worldwide spending on watching movies last year reached $62.4 billion, up from $61.1 billion in 2011 and $60.1 billion in 2010, according to IHS Screen Digest. The numbers include theatrical releases, disc rentals, pay TV VOD and digital retail purchases and rentals. North America accounted for 41 percent of global movie revenue in 2012, although spending on physical media saw a decline. Continue reading Report: Worldwide Spending on Movies Up $1.3 Billion in 2012