Russia Investing More In Theaters Than Movies
With the Russian box office booming -- especially for Hollywood films -- the Russian government is earmarking a greater percentage of its investment in the film industry for the construction of new megaplexes rather than the production of new movies, Reuters reported on Monday. The wire service noted that attendance at Russian theaters increased 15.2 percent last year as theaters raked in a record $1 billion in ticket sales. Most film subsidies by other governments emphasize production, not exhibition. The Russian move would appear to denote an awareness that Russian filmmakers are unable to compete effectively with their Hollywood counterparts. Last year, Reuters noted, U.S. films made almost five times as much as Russian ones at the Russian box office.