As the entire world continues to experience a global economic meltdown, those of us living in North America have apparently decided to throw some financial support behind one of our leading exports; movies. Box office tracker Media By Numbers is reporting that January’s box office figures top out at USD $1.03 billion, up 19% from the January of last year when a measly USD $867.2 million was taken in. This is the first time on record. . . or ever. . . that box office revenue has surpassed USD $1 billion in January.
These figures only account for movie tickets, not concessions sold in theatres, and of course there will be skeptics who claim that the price of a movie ticket rose from one year to the next which accounts for the revenue increase. According to Media By Numbers however, the average price of a ticket only rose 1.5% from USD $7.18 to USD $7.29, while the number of tickets sold to moviegoers rose from 121 million in January of 2008 to 141 million this year. That’s an increase of 16%. Go figure, one of the few industries that can report an increase in revenue and customers in these troubled times is the movie business.