Sunday, December 15, 2019

WITH DOLLAR UP, EUROPEAN FILM BUYERS WARY OF BUYING U.S. MOVIES

October 22, 2012 by · Leave a Comment 

The steady rise of the dollar against the euro represents a two-edged sword for U.S. film studios, Daily Variety observed today (Monday) in a report preceding the opening of this year’s American Film Market in Santa Monica, CA on Oct. 31. With the dollar climbing 10 percent against the euro this year alone and 20 percent since 2008, it now costs European film buyers significantly more to buy American-made films, something that will likely make some of them hesitant about doing so, Variety suggested. (The weaker currency in the 17 euro-zone countries also translates to less revenue from the foreign box office when euros are converted into dollars.) On the other hand, Variety observed, the dollar now goes further for studios when it comes to production costs in European countries and auxiliary expenses like hotel and other travel costs.