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A POSITIVE STATE-OF-THE-MOVIE-BUSINESS ASSESSMENT

April 9, 2014 by · Leave a Comment 

Despite numerous reports that piracy and a growing reluctance of governments to continue to woo producers with lucrative tax incentives, motion picture production continues to rise in most parts of the world, according to IHS media analyst Ben Keen — even in the U.S., where the major studios have cut back on the number of films they are releasing each year. According to Keen, who was quoted in Britain’s Screen Daily, independent film companies have more than offset the majors’ cutbacks. And although box-office revenue remains virtually flat in North America from year to year, it is on the rise almost everywhere else, particularly in China, he said. “We’ve seen rising ticket prices everywhere,” he added, “We’ve seen the growth of digital and 3D pushing up ticket prices.” And while in the past theater owners had been reluctant to convert to digital, 87 percent of all screens globally have now switched over, he observed. By the end of next year, he predicted, “celluloid … will be a thing of the past.”