Movie Business Expands Overseas
While the movie business remains a slow-growth affair domestically, it reached record levels overseas last year, with receipts coming in at $25.8 billion, the Motion Picture Association of America (MPAA) indicated on Tuesday. By contrast, the North American movie market produced $9.49 billion. "Film audiences around the world reminded us that they love going to the movies," MPAA chief Dan Glickman said at a news conference. Although the MPAA has long complained that it loses over $18 billion dollars of revenue annually because of online piracy, Glickman observed Tuesday that hot-wired consumers who own the latest high-tech electronic and computer gear are the most avid moviegoers. "Technologies are emerging at a fast pace, challenging our industry -- filmmakers and exhibitors alike -- to work harder and smarter to keep moviegoers coming back for more, and I think we are well on our way," Glickman remarked.